Santander Consumer Bank results for Q3 2025

13 Nov 2025 12:08 CET

• Profits before tax for the Group amounted to 2 544 MM NOK, -0.3% compared to
the same period last year.
• Net interest income was 5 667 MM NOK, -1.6% compared to Q3 2024.
• The Group’s gross outstanding loans to customers ended at 183 681 MM NOK.
• Customer deposits amounted to 101 813 MM NOK for Q3 2025, an increase of 3 017
MM NOK compared to Q3 2024.

The Group’s Profit before tax for the Group amounted to 2 544 MM NOK, slightly
down (-0.3%) compared to the same period last year. The main reason for the
decrease was lower net interest income and lower other operating results, offset
by lower operating expenses.

Per Q3 2025, the Group’s financial results showed a net interest income of 5 667
MM NOK, representing a slight decrease of -92 MM NOK (-1.6%) compared to Q3
2024. The change in net interest income was due to lower interest income of -1
309 MM NOK (-12.1%), offset by lower interest expenses of 1 217 MM NOK (24.2%)
compared to Q3 2024.
Comparing the periods, both interest income and interest expenses have
substantially decreased due to lower assets after the sale of credit card
business in the end of 2024. FX had a positive impact on net interest income of
69 MM NOK compared to Q3 2024.

Net impairment losses ended 121 MM NOK lower in Q3 2025 vs Q3 2024, due to
negative non-recurring items last year and overall better performance on the
portfolio.

Other operating expenses was 605 MM NOK in Q3 2025 vs 326 MM NOK in Q3 2024. The
increase is related to our operational leasing business where the Group has
taken higher amounts of depreciations and had losses on remarketing of vehicles
due to residual value performance.

Operating expenses for the period amounted to a total of 2 117 MM NOK compared
to 2 493 MM NOK per Q3 2024. The decrease was mainly driven by cost reduction
initiatives as well as some one-off items.

The Group’s gross outstanding loans to customers ended at 183 681 MM NOK per
September 2025. This is a decrease of -2.2% (-4 189 MM NOK) compared to December
2024. Gross outstandings in Auto had a reduction of -1 935 MM NOK (-1.2%) driven
by lower new business volumes and lower Stock Finance volume. Gross outstandings
in Unsecured is also showing a decrease of -2 255 MM NOK (-9.7%) driven by lower
new business volumes as well as higher level of repayments.

Total outstanding deposit volume for the Group is 101 813 MM NOK for Q3 2025,
representing an increase of 3 017 MM NOK compared to Q3 2024. The Group operates
deposit platforms in three of its four home markets: Denmark, Norway, and
Sweden.

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, is the market
leader within auto finance and offers a range of loan products, deposits and
insurance.

More information:
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659549_Q3 report 2025.pdf