Press Release
Monday, April 20, 2026 08:00 CET
Northmill Group AB (publ) today provides a financial update based on preliminary figures for Q1 2026, reinforcing its position as a leading Nordic digital challenger bank. EBT increased 68% year-on-year, the total gross portfolio amounted to almost 6.4 BSEK and the total active customers reached 276 000. During the quarter, the bank successfully launched new digital solutions across both its B2B and B2C segments. In March, Northmill Bank was recognised in the Financial Times' FT1000 2026 ranking as one of the fastest-growing companies in Europe, which marks the third time on the list.
Julie Chatterjee, CEO of Northmill Group, commented: "The first quarter was marked by sustainable growth across the business, as we continued to execute effectively on our long-term strategic plan. We see ongoing robust performance in both our consumer and business segments, reinforcing our position as a leading Nordic digital challenger bank. The recognition by the Financial Times as one of Europe's fastest-growing companies further validates the momentum we are building."
Solid growth in the B2C segment
During Q1 2026, the B2C portfolio grew by 23% to almost 5 BSEK, while the number of card customers increased by 233% year-on-year to 240,000. The bank maintains strong user ratings, with 4.8 out of 5 on the Apple App Store and 4.6 out of 5 on Trustpilot, reinforcing its position as a digital and user-friendly bank. Driven by customer demand, the bank further enhanced its consumer offering during the quarter through the introduction of a premium plan for its popular card.
Accelerating momentum in the B2B segment
The bank has built further on its trust among its business clients with B2B transaction income increased by 373% year-on-year and the B2B lending portfolio, which is mostly secured, grew by 253% over the same period. B2B clients amounted to 4,300 at the end of Q1 and business accounts increased by 18% during the quarter.
At the beginning of the quarter, Northmill Bank launched the opportunity for businesses and entrepreneurs to set up business accounts directly with the bank. In February, the bank announced a strengthening of its lending offering through a guarantee agreement with the European Investment Fund (EIF), an important step in supporting growth among Sweden's small businesses. During the quarter, Northmill Group AB also decided to divest its business arm Northmill Flo AB. Northmill will continue to own a minority position in a joint company with Purspot AB. This was a strategic decision to focus resources and efforts on further developing and growing the banking business.
Profitable growth and reduced risk
EBT grew by 68% during Q1 2026 compared to the same period last year, and gross portfolio increased by 43% year-on-year driven by B2B lending. Portfolio growth was complemented by a 39% increase in transaction income, resulting in a 28% increase in the Group's operating income to 252 MSEK.
"The strong first quarter of 2026, with EBT growth of 68% and a total lending portfolio now exceeding 6 BSEK, demonstrates our ability to deliver strong and profitable growth. In addition, our consistent reduction in credit losses, down by 1.8 pp, reinforces our underwriting capabilities and reflects our risk-appetite as we continue to grow", said Emil Folkesson, CFO of Northmill Group.
As previously communicated the Group is evaluating a capital raise to support the accelerated growth trajectory.
The numbers are presented excluding discontinued operations unless stated otherwise.
The company's complete Q1 2026 report will be published on April 29, 2026, as previously announced. The financial information presented in this press release is preliminary.
Key highlights Q1 2026
? Gross portfolio: 6,381 MSEK (+43% vs 4,464 Q1 2025)
? B2B portfolio: 1,383 MSEK Q1 2026 (+253% vs 392 MSEK Q1 2025)
? B2C portfolio: 4,998 MSEK Q1 2026 (+ 23% vs 4,072 MSEK Q1 2025)
? Adjusted operating income: 252 MSEK Q1 2026 (+28% vs 197 MSEK Q1 2025)
? Adjusted EBT: 74 MSEK Q1 2026 (+68% vs 44 MSEK Q1 2025)
? Adjusted transaction income: 23 MSEK Q1 2026 (+64% vs 14 MSEK Q1 2025)
? Credit losses: 4.9% (-1.8pp vs 6.8% Q1 2025)
? Card customers: 240 K Q1 2026 (+233% vs 72 K Q1 2025)
? New products launched: business accounts, premium card plan, EIF guarantee loan
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 April 20, 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 been ranked three times 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/
