Strong quarterly results supported by contributions from hedging contracts
KBN’s net interest income totalled NOK 615 million in the second quarter of 2026, compared to NOK 568 million in the same period in 2025.
KBN’s green loan portfolio increased by NOK 2 billion in the second quarter of 2026, compared to growth of NOK 1 billion in the same period in 2025. At the end of the second quarter of 2026, KBN’s green lending represented 21 % of its overall lending portfolio.
Results for the 2nd quarter
KBN’s core earnings1 totalled NOK 352 million in the second quarter of 2026, compared to NOK 305 million in the same period in 2025. Net interest income totalled NOK 615 million in the second quarter of 2026, as compared to NOK 568 million in the same period in 2025.
Results for the first six months of 2026
KBN’s core earnings1 for the first six months of 2026 totalled NOK 669 million, compared to NOK 597 million in the first six months of 2025. KBN’s net interest income in the first six months of 2026 was NOK 1 208 million, as compared to NOK 1 121 million in the first six months of 2025.
– We are pleased with our net interest income in the first half of 2026. Stronger earnings from hedging contracts used to convert exposures into Norwegian kroner were the main drivers of the increase in income, says CEO Jannicke Trumpy Granquist.
Lending
KBN’s lending portfolio totalled NOK 377 billion2 at the end of the second quarter of 2026, while aggregate customer financing3 totalled NOK 390 billion4 at the end of the second quarter of 2026. KBN's aggregate customer financing increased by NOK 4 billion in the second quarter of 2026, as compared to an increase of NOK 2 billion in the second quarter of 2025. Competition remains high, particularly from the capital markets.
Funding
KBN enjoyed good access to the international capital markets and completed all its funding transactions as planned. KBN’s new borrowings in the first six months of 2026 totalled approximately NOK 74 billion through 43 bond issues in 9 currencies, as compared to NOK 103 billion in the same period in 2025.
1 Profit after tax adjusted for net unrealised gain/(loss) on financial instruments (in accordance with note 2) adjusted for estimated tax at 25% tax rate, and adjusted for Portion allocated to owners of additional Tier 1 capital. This result measure is included to give relevant information about the company's underlying operations.
2 Principal amount
3 Aggregate customer financing is the sum of KBN’s lending portfolio and KBN’s portfolio of municipal bonds in the liquidity portfolio, which are included as a part of KBN’s financing of customers.
4 Principal amount
