January - June 2026 compared with July - December 2025
Operating profit decreased by 17% to SEK 2,809m (3,388).
Net interest income was unchanged by 0% and?amounted to SEK 4,902m (4,903).
Loans to the public increased by 0% to SEK 1,572bn (1,570).
Return on equity was 6.9% (7.8).
The credit loss ratio was 0.00% (-0.00).
The common equity tier 1 ratio was 13.1% (12.8).
January - June 2026 compared with January - June 2025
Operating profit decreased by 28% to SEK 2,809m (3,883).
Net interest income went down by 12% to SEK 4,902m (5,598).
Loans to the public were unchanged and?amounted to SEK 1,572bn (1,572).
Return on equity was 6.9% (9.4).
The credit loss ratio was 0.00% (0.00).
The common equity tier 1 ratio was 13.1% (12.6).
January - June 2026 compared with July - December 2025
Stadshypotek's operating profit decreased by SEK 579m, or 17%, to SEK 2,809m (3,388). Net interest income was unchanged at SEK 4,902m, (4,903), mainly due to the ongoing downward trend for margins which are offset by increased lending volume in Sweden.
In Sweden, net interest income increased by SEK 150m, while in the Norwegian branch net interest income decreased by SEK 112m.
Of the net interest income, SEK 384m (496) was attributable to the branch in Norway and SEK 34m (73) to the branch in Finland. Net gains/losses on financial transactions decreased by SEK 61m to SEK 216m (277).
Expenses rose by SEK 513m to SEK -1,645m (-1,132). This increase was mainly attributable to an increase in the compensation paid to the parent company for services rendered on behalf of Stadshypotek in the Bank's branches, relating to the sale and administration of mortgage loans. The model for calculating sales over-heads in the branch operations was updated during the first half of the year, which explains the rise in expenses.
Net credit losses totalled SEK -22m (-17), mainly due to provisions for Stage 1 and Stage 2. The credit loss ratio corresponded to 0.00% (0.00) of lending.
Lending
Loans to the public increased by SEK 2bn, or 0%, during the period, to SEK 1,572bn (1,570). In Sweden, loans to the public increased by SEK 8bn, or 1%, to SEK 1,434bn (1,426).
Financing
Issues of Stadshypotek's bond programme in Swedish kronor totalled a nominal SEK 61bn (33) during the period. During the period, a nominal volume totalling SEK 92bn (83) matured or was repurchased. The carrying amount of outstanding Swedish kronor bonds was SEK 521bn (552) at the end of the period.
Issues of foreign currency bonds under the EMTCN programme totalled EUR - bn (-). The outstanding volume at the end of the period was nominally EUR 7bn (8).
Issues in NOK totalled NOK 7bn (-). The outstanding volume at the end of the period totalled a nominal NOK 22bn (23).
Capital adequacy
The total capital ratio was 18.1% (17.9) while the common equity tier 1 ratio calculated was 13.1% (12.8). Further information on capital adequacy is provided in note 20, Capital adequacy.
Rating
Stadshypotek's ratings remained unchanged during the entire period.
Stadshypotek | Covered bonds | Long-term | Short-term |
Moody's | Aaa | - | P-1 |
S&P | AA- | A-1+ | |
Fitch | AA | F1+ |
January - June 2026 compared with January - June 2025
Stadshypotek's operating profit decreased by SEK 1,074m, or 28%, to SEK 2,809m (3,883). Net interest income fell by SEK 696m to SEK 4,902m, (5,598), mainly due to the ongoing downward trend for margins on Swedish loans.
In Sweden, net interest income decreased by SEK 475m, while in the Norwegian branch net interest income decreased by SEK 163m.
Of the net interest income, SEK 384m (547) was attributable to the branch in Norway and SEK 34m (92) to the branch in Finland. Net gains/losses on financial transactions increased by SEK 140m to SEK 216m (76).
Expenses rose by SEK 481m to SEK -1,645m (-1,164). This increase was mainly attributable to an increase in the compensation paid to the parent company for services rendered on behalf of Stadshypotek in the Bank's branches, relating to the sale and administration of mortgage loans.
Net credit losses totalled SEK -22m (-3), mainly due to provisions for Stage 1 and Stage 2. The credit loss ratio corresponded to 0.00% (0.00) of lending.
Lending
Compared to the close of the corresponding period during the previous year, loans to the public were unchanged, amounting to SEK 1,572bn (1,572). In Sweden, loans to the public increased by SEK 20bn, or 1%, to SEK 1,434bn (1,414).
Financing
Issues of Stadshypotek's bond programme in Swedish kronor totalled a nominal SEK 61bn (57) during the period. During the period, a nominal volume totalling SEK 92bn (20) matured or was repurchased. The carrying amount of outstanding Swedish kronor bonds was SEK 521bn (605) at the end of the period.
Issues of foreign currency bonds under the EMTCN programme totalled EUR - bn (1). The outstanding volume at the end of the period was nominally EUR 7bn (9).
Issues in NOK totalled NOK 7bn (-). The outstanding volume at the end of the period totalled a nominal NOK 22bn (23).
Capital adequacy
The total capital ratio was 18.1% (17.6) while the common equity tier 1 ratio calculated was 13.1% (12.6). Further information on capital adequacy is provided in note 20, Capital adequacy.
Discontinued operations
A process to discontinue Stadshypotek's operations in Finland has been ongoing since 2021. As of Q1 2026, the operations in Finland are no longer considered to comprise discontinued operations according to IFRS 5 (Noncurrent Assets Held for Sale and Discontinued Operations). During Q2 2026, the remaining operations in the form of loans to the public were transferred to Handelsbanken.
Stockholm July 15, 2026
Cecilia Hasselbo
Chief Executive Stadshypotek AB
This information is of the type that Stadshypotek is obliged to make public pursuant to the Swedish Securities Markets Act. The information was submitted for publication through the agency of the contact person set out above, at 11:00 a.m. CET on 15 July 2026.
For more information about Stadshypotek please go to www.handelsbanken.com
