Santander Consumer Bank results for Q2 2026
• Profit before tax amounted to 1 705 MM NOK as of Q2 2026, an increase of 11.1% compared to the same period last year. • Net interest income amounted to 3 415 MM NOK, a decrease of -4.4% compared to the same period last year. • The Group’s gross outstanding loans to customers ended at 173 536 MM NOK. • Customer deposits amounted to 92 535 MM NOK.
In Q2, the Group experienced a decline in outstanding loans and new business volumes, while profitability substantially improved despite difficult market conditions and lower assets.
The Group’s profit before tax amounted to 1 705 MM NOK as of Q2 2026, an increase of 11.1% compared to the same period last year. The improvement is mainly driven by better risk performance, as well as being supported by lower operating expenses following successful cost reduction initiatives.
Per Q2 2026, the Group’s financial results showed a net interest income of 3 415 MM NOK, representing a decrease of 158 MM NOK (-4.4%) compared to Q2 2025. The change in net interest income was due to lower interest income of -606 MM NOK (-9.8%), partly offset by lower interest expenses of -448 MM NOK (-17.0%) compared to Q2 2025. Comparing the periods, both interest income and interest expenses have substantially decreased due to lower assets and lower market rates.
Net impairment losses ended 113 MM NOK lower in Q2 2026 vs Q2 2025, due to strong risk management driven by lower write offs and non-performing loans.
As of Q2 2026, the Group’s gross outstanding loans decreased with 12 034 MM NOK (-6.5%) compared to year end 2025. Auto shows a decrease of 9 247 MM NOK (-5.6%), driven by lower new business volumes and negative FX impacts. Unsecured loans are also showing a decrease of 2 716 MM NOK (-13.4%) driven by lower new business volumes and negative FX impacts.
Customer deposits decreased with 6 932 MM NOK (-7.0%) vs. year-end 2025, reflecting planned portfolio optimization.
Contact information: pressnordics@gruposantander.com
Santander Consumer Bank is a part of Banco Santander. In the Nordics Santander employs around 1200 people. The bank has 1.3 million customers in the Nordics, is market leader within auto finance and offers a range of loan products, deposit and insurance.
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