Nordiska reports operating income of 217.4 MSEK and a profit of 67.0 MSEK for the second quarter. Lending grew to 11.2 MDSEK and the capital ratios were strengthened — at the same time, two one-off effects pulled the result in opposite directions.
Operating income
vs April–June 2025
Lending to the public
vs 30 June 2025
Total capital ratio
+3.5 percentage points vs 30 June 2025
| Q2 2026 | Q2 2025 | |
|---|---|---|
| Operating income | 217.4 MSEK | 170.1 MSEK |
| Profit before credit losses | 99.2 MSEK | 85.0 MSEK |
| Operating profit | 57.9 MSEK | 48.4 MSEK |
| Profit for the period | 67.0 MSEK | 38.1 MSEK |
| Earnings per share | SEK 1.13 | SEK 0.68 |
Real estate, leasing and portfolio acquisitions drove growth
Lending to the public amounted to 11,184.4 MSEK as of 30 June, an increase of 11.0 per cent compared with the same date the previous year. According to the company, growth was driven mainly by Real Estate and Leasing as well as portfolio acquisitions within Consumer Finance. Within Real Estate, lending increased 56.5 per cent to 3,252.6 MSEK and within Leasing 29.1 per cent to 2,455 MSEK. Within Embedded Finance, lending decreased 24.3 per cent to 3,623 MSEK after a larger partnership ended and some partners reduced their volumes, while the segment's operating income increased to 55.5 MSEK (47.4). Nordiska emphasises that the development underlines the value of diversification in the strategy.
Bliq acquisition completed in May
On 20 May, Nordiska completed the acquisition of all shares in Bliq AB, a Swedish consumer credit institution with brands including Tryggkredit and Equilo. The purchase price of 185.9 MSEK, excluding acquisition-related costs, was paid in full through 6,910,025 new ordinary shares in Nordiska, valued at SEK 26.9 per share. According to the company, the acquisition adds a consumer credit portfolio of approximately SEK 1 billion. The third quarter will be the first to include Bliq for the whole reporting period.
Two one-off effects in opposite directions
Credit losses amounted to 47.0 MSEK (36.5), of which approximately 35 MSEK is an accounting IFRS 9 effect attributable to the credit portfolios included in the Bliq acquisition. Working in the opposite direction was the divestment of 9.9 per cent of the holding in Nordiska Financial Partner Norway AS, which had a positive effect on profit of approximately 40 MSEK in the quarter. The C/I ratio was 54.4 per cent (50.1).
Capital strengthened during the quarter
During the quarter, Nordiska issued additional tier 1 capital instruments (AT1) of 200 MSEK to strengthen the capital ratios and refinance existing AT1 bonds of 100 MSEK, which were redeemed on 1 July. The new bonds have been admitted to trading on Nasdaq Stockholm. The total capital ratio was 21.4 per cent as of 30 June against a combined capital requirement of 13.6 per cent. Nordiska thereby states that the target of a 300 basis point margin to the statutory requirements has been achieved.
A broader platform ahead of the autumn launches
On 23 June, Nordiska also acquired Nordic Bridge Services Oy and has established a branch in Finland. Together with SAS, a new card programme for small and medium-sized enterprises in Scandinavia was announced during the quarter, where the first offering will be the premium corporate card SAS EuroBonus Executive Business Card. According to the company, the focus during the autumn is on launching consumer financing in Sweden and Finland, supported by the platforms established through the acquisitions.
Source: Nordiska's interim report January–June 2026.
