Northmill reports record-breaking second quarter 2026 – profitable growth across both B2B and B2C

Press Release
Wednesday, August 26, 2026, 08:00 CET
Northmill Group AB (publ) posted record breaking results for Q2 2026 with strong profitable growth across its entire business, reinforcing its standing as a leading Nordic digital challenger bank. The B2B portfolio accelerated significantly during the quarter, reaching nearly 2.5 BSEK, up from 551 MSEK in the same period last year, while the B2C portfolio showed an increase of 27% to almost 5.3 BSEK. EBT grew by 54% compared to Q2 2025 to 86 MSEK and the total gross portfolio climbed to close to 7.8 BSEK with 284,000 active customers in total.

“Delivering yet another record quarter proves our ability to consistently create real value for both consumers and businesses with smart and modern products. The strong earnings reflect our long-term strategy driving sustainable growth, cementing our position as a leading Nordic digital challenger bank. With a continuously growing customer base, high customer satisfaction and a solid financial position, we are exceptionally well-positioned to scale further”, said Julie Chatterjee, CEO of Northmill Group. 
Exceptional growth in the B2B segment 

During the second quarter of 2026, the bank is showcasing real momentum within the B2B segment, as the business portfolio reached almost 2.5 BSEK, up from 551 MSEK in the same period last year. B2B is now approximately 32% of the total portfolio, versus approximately 12% a year ago. Northmill is successfully capturing market share within B2B lending through an experienced team, innovative products, accessibility and a human yet digital approach. This while scaling the portfolio in a disciplined manner with a strong focus on credit risk management and diversification. The expansion is further underpinned by robust demand for business credit in the structurally underserved SME segment.

B2C segment showing record numbers 

The B2C segment continued to grow during Q2, where the total B2C portfolio increased by 27% year-on-year to nearly 5.3 BSEK. The strong momentum is fueled by the bank’s vision of improving financial lives with simpler, smarter and accessible products. Northmill’s tailored solutions enable clients to leverage products like mortgages in multiple ways, including consolidating existing debt into secured loans to significantly reduce monthly costs.
Total card customers reached 262,000, an increase of 208% compared to the same period last year. For the second consecutive year, the bank’s flexible card was named the best debit card for travel in 2026 by independent comparison site Kortio. The position as a user-friendly bank is further reinforced by currently strong user ratings, with 4.8 out of 5 on the Apple App Store and 4.8 out of 5 on Trustpilot.
Delivering profitable growth while managing risk
EBT grew by 54% during Q2 2026 compared to the same period last year, and gross portfolio increased by 64% year-on-year mainly driven by the exceptional B2B growth. At the same time, the bank strengthened its adjusted return on equity to 20.5%, an increase of 3.7pp from the previous year. The credit quality in the portfolio is continuously improving and the net credit-loss ratio decreased with 1pp to 4.6% during the quarter. At the beginning of the second quarter, Northmill further strengthened its capital base through a successful issuance of an Additional Tier 1 bond of 275 MSEK. 
“I am very pleased with our performance this quarter as it shows that our sustainable roadmap continues to deliver strongly over time. We are growing the balance sheet with greater profitability and a higher quality portfolio, as demonstrated by the lowering of our cost of risk. At the same time, improvements in our cost of risk and cost-to-income ratio reflect a platform that is becoming more efficient as it scales. The successfully issued Additional Tier 1 issuance of 275 MSEK also leaves us strongly placed to maintain momentum”, said Emil Folkesson, CFO of Northmill Group.
The numbers are presented excluding discontinued operations unless stated otherwise.
Key highlights Q2 2026

• Gross portfolio: 7,765 MSEK (+64% vs 4,725 Q2 2025)
  • B2B portfolio: 2,483 MSEK Q2 2026 (+351% vs 551 MSEK Q2 2025)
  • B2C portfolio: 5,282 MSEK Q2 2026 (+27% vs 4,175 MSEK Q2 2025)
• Operating income from continued operations: 281 MSEK Q2 2026 (+37% vs 205 MSEK Q2 2025)
• EBT from continued operations: 86 MSEK Q2 2026 (+54% vs 56 MSEK Q2 2025)
• Transaction income B2B and B2C from continued operations: 27 MSEK Q2 2026 (+42% vs 19 MSEK Q2 2025)
  • B2B transaction income: 8 MSEK Q2 2026 (+60% vs 5 MSEK Q2 2025)
  • B2C transaction income: 19 MSEK Q2 2026 (+36% vs 14 MSEK Q2 2025)
• Credit losses: 4.6% (-1pp vs 5.6% Q2 2025)
• Card customers: 262 K Q2 2026 (+208% vs 85 K Q2 2025)

Contacts:
IR: Emil Folkesson, CFO, ir@northmill.se, +46 8 - 400 070 40

Press: Frida Almgren, PR, press@northmill.se, + 46 76 - 19 98 300

This information is information that Northmill Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication on August 26 2026 at 08:00 CET.
About Northmill Bank

Northmill Bank is a Nordic tech-fuelled digital challenger bank with the vision of improving people’s financial lives. With a full Swedish banking license, the bank offers financial services for both consumers and businesses. Northmill became the EU-based bank receiving the most awards at the Banking Tech Awards 2025 and has been ranked three times as one of Europe’s fastest-growing companies by the Financial Times. In Q4 2024, it became the first Swedish bank to complete a payment through the Swedish Riksbank’s new infrastructure for real-time account to account payments, RIX-INST. Northmill Group’s CEO Julie Chatterjee was one of only two executives from a Swedish bank invited to speak at the most recent annual FT Global Banking Summit in December. In October 2025, her peer-reviewed publication on AI in banking, was published in the Journal of Digital Banking.www.northmill.com/se/