01 Nov 2024 07:00 CET

Issuer

Instabank ASA

Instabank ASA, the Nordic challenger bank, achieved a profit before tax of 35.2
MNOK in Q3-2024 and successfully accelerated growth in its most profitable
segments, mortgages and business lending. Additionally, Instabank sold a
portfolio of non-performing loans in Finland that not only confirmed the
valuation of non-performing loans but also enhanced the bank's capital ratios.

Key Highlights for Q3-2024:

• Profit before tax was 35.2 MNOK, a slight decrease of 0.7 MNOK compared to
Q2-24.

• Profit after tax was 26.4 MNOK, with a return on equity of 11.5 %

• Strong growth in business lending and mortgages: Business lending grew by 107
MNOK, while mortgages increased by 228 MNOK

• A successful sale of non-performing loans of 302 MNOK, positively impacting
operating profit and confirming the valuation of impaired loans.

• Strategic diversification: Business lending and mortgages now account for over
50% of total lending after solid growth in those segments and the sale of
non-performing consumer loans in Finland.

• Instabank is making significant progress in its geographical expansion efforts
in Germany and expects to launch a competitive credit card product in the first
half of 2025.

About Instabank ASA:

Instabank ASA is the Nordic challenger bank for corporate and private customers.
We believe in challenging established norms and finding flexible solutions where
others create complexity. Instabank operates in Norway, Finland and Sweden,
offering competitive savings, insurance, credit cards, mortgages and unsecured
loan products to consumers and small and medium-sized businesses. Instabank also
offers deposits in Germany through a partnership with Raisin Bank. Instabank is
a proud sponsor of the Norwegian Athletics Federation. Instabank is admitted to
trading at Euronext Growth at Oslo Børs, ticker INSTA.

For more information, please see the full interim report for Q3-2024, which is
enclosed in this message.

For further information, please contact:
Robert Berg, CEO, robert.berg@instabank.no
Per Kristian Haug, CFO, perkristian.haug@instabank.no

This information is subject to the disclosure requirements of section 5-12 the
Norwegian Securities Trading Act


630974_Instabank_Interim_Report_Q3-24.pdf
630974_Instabank_Q3_2024_Presentation.pdf

Source

Instabank ASA

Provider

Oslo Børs Newspoint

Company Name

Instabank ASA 19/PERP FRN C Hybrid, Instabank ASA 20/30 FRN C SUB, Instabank ASA 22/PERP ADJ C HYBRID, Instabank ASA 22/33 ADJ C SUB, Instabank ASA 23/PERP ADJ C HYBRID, Instabank ASA 23/33 ADJ C SUB, INSTABANK

ISIN

NO0010871577, NO0010874522, NO0012761602, NO0012761628, NO0012860941, NO0012860958, NO0010762792

Symbol

INSTA

Market

Nordic Alternative Bond Market Euronext Growth