Santander Consumer Bank results for Q1 2026

15 May 2026 12:01 CEST

• Profit before tax amounted to 740 MM NOK as of Q1, an increase of 21.2%
compared to the same period last year
• Net interest income amounted to 1 769 MM NOK in Q1, a decrease of -3% compared
to the same period last year.
• The Group’s gross outstanding loans to customers ended at 173 980 MM NOK.
• Customer deposits amounted to 93 126 MM NOK.

In Q1 2026, the Group’s profitability significantly improved despite challenging
market conditions.

The Group’s profit before tax amounted to 740 MM NOK as of Q1 2026, an increase
of 21.2% 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 Q1 2026, the Group’s financial results showed a net interest income of 1 769
MM NOK, representing a slight decrease of 53 MM NOK (-3.0%) compared to Q1 2025.
The change in net interest income was due to lower interest income of -334 MM
NOK (-10.5%), partly offset by lower interest expenses of -280 MM NOK (-20.5%)
compared to Q1 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 104 MM NOK lower in Q1 2026 vs Q1 2025, due to
strong risk management driven by lower writeoffs and non-performing loans.

As of Q1 2026, the Group’s gross outstanding loans decreased with 11 590 MM NOK
(-6.2%) compared to year-end 2025. Auto shows a decrease of 9 609 MM NOK (-5.8%)
driven by lower new business volumes and lower Stock Finance volume. Consumer is
also showing a decrease of 1 981 MM NOK (-9.7%) driven by lower new business
volumes as well as a higher level of repayments.

Customers deposit decreased with 6 340 MM NOK (-6.4%) vs. year-end 2025.

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,
deposits and insurance.

More information:
Access the news on Oslo Bors NewsWeb site

673596_Q1 Financial Report 2026.pdf