Transcript

Operator

Welcome to the Enity Q2 2026 report presentation. For the first part of the conference call, participants will be in listen-only mode. During the questions and answers session, participants are able to ask questions by dialing pound key five on their telephone keypad. Now I will hand the conference over to CEO Björn Lander and CFO Pontus Sardal. Please go ahead.

Björn Lander — CEO

Good morning, everyone, and welcome to Enity and our presentation of the second quarter. This is Björn Lander speaking. I am here today together with Pontus Sardal. Starting with some quarterly highlights. We delivered a very strong second quarter result, and I am very pleased to see the development throughout the quarter. We achieved solid progress across a number of important key areas. First of all, net interest income increased significantly and recovered from the adverse timing effect we saw in the first quarter. NII is up 16% compared to the first quarter this year and up 10% compared to the same quarter last year. We delivered a strong profit, operating profit, actually one of the best quarters ever. If you adjust for the result from financial transaction, this is the best operating result ever for the bank. If you look at the returns, we continue to deliver strong returns with a return on tangible equity of 21% rolling 12 months and 28% in the quarter. Credit losses remain stable at around 27 basis points. What is actually very good to see in the second quarter is that our Stage 2 loan decreased by more than 20% compared to the first quarter. Our CET1 ratio that came down a bit after the Q1 following the acquisition of Uno progressed well and strengthened by approximately one percentage point in the quarter. Now we are operating just below the targeted level of 200-300 basis points above the regulatory requirement. Very good to see the progress in terms of capital. During the quarter, we issued two senior unsecured bonds, one in SEK and one in NOK at attractive funding spreads, further strengthening our balance sheet and supporting future growth. Housing markets, however, remain subdued. Growth was softer during the quarter, but on the other hand, our net interest margin rebounded to 4.2%. To summarize, it was a strong quarter that highlights the resilience, disciplined execution, and continued progress across a number of key areas. If you look at the market, starting overall, as I