Press Release, January 30, 2026: Northmill Group AB (publ) reported all-time high earnings for Q4 and full-year 2025, breaking records across key growth and performance metrics. The fourth quarter was marked by accelerating growth for the B2B lending portfolio which reached ~ 1 BSEK, B2C lending outpacing market growth and consumer card customers surpassing 200,000. EBT for Q4 increased 92% YoY, with 56% growth for the full year 2025. During the year, Northmill has consistently launched new solutions and services for both its consumer and business clients, cementing its position as a leading tech-fuelled challenger bank in the Nordics.
Julie Chatterjee, CEO of Northmill Group, commented: "In 2025, Northmill has delivered transformational growth, strengthening our position as a leading digital challenger bank across both consumer and business segments. By accelerating digital innovation and execution, we turned commercial initiatives and a relentless focus on customer experience into real market impact. Our outstanding Q4 and full-year results confirm the strength of our strategy and our ability to deliver sustainable, profitable growth."
Exceptional growth in the B2B segment
Northmill Bank continued to grow its B2B segment, delivering significant growth in the B2B lending portfolio which increased 4.5x compared to Q4 2024, now reaching ~1 BSEK in disbursed volume. B2B clients rose to 4,700 at the end of Q4 and business accounts saw an increase of 63% during full-year 2025. Transaction income for B2B reached 15 MSEK during Q4, an uplift of 88% YoY.
"The growth of our B2B segment in 2025 signals more than strong performance, it reflects the confidence and trust that SMEs and entrepreneurs have in us. As businesses face new challenges and opportunities, we're committed to delivering financial solutions that support every stage of their journey and help shape the future of the business landscape", said Julie Chatterjee.
High traction within the bank's B2C offerings
During Q4 and full-year, Northmill solidified its role as a digital and user-friendly bank with outstanding satisfaction ratings among consumers. The B2C gross portfolio grew 13% during 2025, while the market increased by 4%. The number of card customers continued to increase at a rapid pace, reaching 211 K at the end of year, an increase of 3.5x compared to 2024. In 2025, the bank expanded its B2C offering with the launch of a flexible and innovative mortgage product for the Swedish market. The bank continues to receive high user ratings with 4.8 out of 5 on Apple App Store and 4.6 out of 5 on Trustpilot.
"We design our offerings to make everyday personal finances easier driven by our vision of improving people's financial lives. The sustained adoption of our digital-first products highlights a broader shift in consumer behavior, with users increasingly seeking tools that give them control, transparency, and flexibility", said Julie Chatterjee.
Strong business model and execution powers all-time high results
Gross portfolio increased 30% in 2025, powered by B2B lending, and operating income rose 18% to 881 MSEK, driven by higher net interest income and transaction-related income. To promote continued strong growth and further enhance the platform, Northmill made intentional investments that increased OPEX by 18% for the full year 2025 compared to the previous year. EBT still surged with an increase of 56% for the full year to 224 MSEK.
In November 2025, Northmill Group successfully issued its inaugural Tier 2 bond of 100 MSEK, further strengthening the bank's robust capital position. In addition, the Group is evaluating a capital raise to accelerate growth across its verticals.
"Our strong 2025 operating income and EBT growth of 18% and 56% respectively, combined with a solid return on equity of 18.5%, demonstrate the strength of our business model and execution. Following a year of targeted investment in our platform, we are now at an inflection point in our growth journey. The platform is geared for scalable expansion across both of our verticals, positioning us well for the next phase. This momentum is further reinforced by strong investor confidence, reflected in the successful issuance of our attractively priced Tier 2 bond", said Emil Folkesson, CFO of Northmill Group.
Key highlights Q4 2025
- Operating income: 239 MSEK (+21% vs 198 MSEK Q4 2024)
- Transaction income B2B: 15 MSEK (+88% vs 8 MSEK Q4 2024)
- Credit losses: 5.2% (-2 vs 7.2% Q4 2024)
- EBT: 63 MSEK (+92% vs 33 MSEK Q4 2024)
Key highlights FY 2025
- Gross portfolio: 5,561 MSEK (+30% vs 4,264 MSEK FY 2024)
- B2B portfolio reached 964 MSEK (+357% vs 211 MSEK FY 2024)
- B2C portfolio reached 4,597 MSEK (+13% vs 4,054 MSEK FY 2024)
- Card customers reached 211 K (+252% vs 60 K FY 2024)
- Operating income: 881 MSEK (+18% vs 748 MSEK FY 2024)
- Transaction income B2B and B2C: 94 MSEK (+16% vs 81 MSEK FY 2024)
- EBT: 224 MSEK (+56% vs 144 MSEK FY 2024)
- 19 consecutive years of profitable growth
Contacts:
IR: Emil Folkesson, CFO, ir@northmill.se, +46 08 - 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 January 30 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 twice been ranked 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/
