Automatic translation: Originally published in Danish 28/10/2026, 14:26 GMT. Give feedback here.

Skjern Bank has published its Q3 2026 financial report this afternoon, delivering a satisfactory period profit with continued strong momentum in business volume and double-digit lending growth. The upgraded full-year guidance from early September is reiterated unchanged.

For the first 9 months of the year, profit before tax landed at DKK 257.6 million (256.1), and profit after tax represents a return on opening equity of 13.8% p.a. In Q3 alone, profit before tax was DKK 78.3 million vs. DKK 87.4 million in the same quarter last year.

Net interest and fee income rose by 5.0% to DKK 514.1 million (489.4) for the first 9 months, and in Q3 alone, the increase was ~11% to DKK 168.6 million (151,9). The core earnings landed at DKK 254.2 million (252.8), which in Q3 alone corresponds to DKK 83.3 million vs. DKK 74.7 million last year – an increase of ~11.5% following an H1 where core earnings were impacted by lower sector dividends. Market value adjustments totaled DKK 28.8 million (20.7), while loan impairment charges remained at a low level of DKK 8.7 million (7.3). Management's estimate was maintained unchanged at DKK 100 million.

On the balance sheet side, lending grew by 14.3% y/y to DKK 8,292 million, while deposits rose by 9.8% y/y to DKK 10,772 million. The total capital ratio was 24.1% and the Common Equity Tier 1 (CET1) capital ratio was 22.5% vs. a solvency need of 10.1%.

Skjern Bank upgraded its guidance for 2026 on September 2 and continues to expect core earnings in the range of DKK 330–350 million (previously DKK 315–335 million) and profit before tax in the range of DKK 330–355 million (previously DKK 310–335 million). With DKK 257.6 million in the books after 9 months, this implies a Q4 profit before tax of DKK 72–97 million vs. DKK 88.2 million in Q4 2025. By comparison, the bank generated a profit before tax of DKK 344.3 million for the full-year 2025.

You can read Skjern Bank's full financial report here: https://www.inderes.dk/releases/tilfredsstillende-perioderesultat-5

Remember that tomorrow – October 29 at 1:00 PM – you can tune in when we host CEO Thomas Baun at a virtual event for a review of the quarterly report and a discussion on recent developments. Sign up here: https://www.inderes.dk/videos/skjern-bank-praesentation-af-regnskabet-for-3-kvartal-2026

Disclaimer: HC Andersen Capital receives payment from Skjern Bank for a Digital IR subscription agreement. /Rasmus Køjborg, CFA at 3:15 PM on October 28, 2026.