Eiendomskreditt's Q3 2025 profit falls on rising operating costs

Eiendomskreditt AS reported a Q3 2025 after-tax profit of NOK 24.40 million, down from NOK 25.91 million in the same period last year. Net interest income also saw a slight decrease to NOK 36.95 million (Q3 2024: NOK 37.09 million), attributed to lower money market rates despite higher loan volumes. Operating expenses as a percentage of income increased significantly to 24.54% (Q3 2024: 18.98%), largely due to higher personnel costs from organizational strengthening and expenses related to new office premises.

For the year-to-date 2025, after-tax profit stands at NOK 72.55 million, compared to NOK 75.92 million in the previous year. Loan growth over the last 12 months reached 11.20%, with gross loans totaling NOK 6,068 million as of September 30, 2025. The company's capital adequacy remains solid, with a common equity tier 1 ratio of 21.42%.

Despite the decline in Q3 profitability, the company notes a stable Norwegian economy and an improved commercial real estate market in Q2 and Q3. Impaired loans have increased but are expected to see solutions in Q4, potentially reducing the volume of Level 3 engagements under IFRS 9.