Instabank

Earnings Release • Aug 15, 2024

Instabank ASA reports strong Q2 2024 results and is well positioned for future growth

Instabank ASA reports strong Q2 2024 results and is well positioned for future growth

Instabank ASA, the Nordic challenger bank, has announced its interim results for the second quarter of 2024, showcasing a robust financial performance and strategic advancements that position the bank for continued growth.

Financial Highlights:

• Profit before tax: 35.9 MNOK, an increase of 5.8 MNOK compared to Q2-23.

• Profit after tax: 26.9 MNOK, with a return on equity of 12.0%.

• Total income: 120.8 MNOK, up 18% from the same quarter last year.

• Operating expenses: Remained stable at 46.0 MNOK.

• Loan losses: Decreased to 38.9 MNOK from 46.3 MNOK in the previous quarter.

• Enhanced capital ratios: Common Equity Tier 1 Capital (CET1) ratio at 19.3%, up 0.9% points from the end of Q1-24.

Strategic Achievements:

• Successful sale of non-performing loans of 167 MNOK: The transaction was operating profit-positive and confirms the valuation of impaired loans.

• Business lending: The credit line product for small and medium sized businesses, launched one year ago, has become a proven success and challenges mortgages as Instabank’s most profitable product.

Instabank is well-positioned for lending growth in the second half of 2024, with a diversified range of products and a robust capital situation. The bank anticipates approximately 800 MNOK in gross loan growth and a profit after-tax of 90 MNOK for 2024.

About Instabank ASA: Instabank, established as a fully digital bank in 2016, operates in Norway, Finland, and Sweden, offering competitive savings, insurance, point of sales (POS) financing, credit cards, mortgages, and unsecured loan products to consumers and small and medium-sized businesses. Instabank is a proud sponsor of the Norwegian Athletics Federation. The bank is listed on Euronext Growth at Oslo Børs, ticker INSTA.

For more information, please see the full interim report for Q2-2024 that are enclosed to this message.

For further information, please contact:

Robert Berg, CEO, robert.berg@instabank.no

Per Kristian Haug, CFO, perkristian.haug@instabank.no

This information is subject to the disclosure requirements of section 5-12 the

Norwegian Securities Trading Act