Santander Consumer Bank results for Q3 2026
- Profit before tax amounted to 2 516 MM NOK as of Q3 2026, a decrease of 1 % compared to the same period last year. - Net interest income amounted to 5 074 MM NOK, a decrease of 10 % compared to the same period last year. - The Group's gross outstanding loans to customers ended at 167 623 MM NOK. - Customer deposits amounted to 89 432 MM NOK.
In Q3, the Group's profitability remained stable despite challenging market conditions, primarily driven by lower losses on loans following solid risk management, as well as lower operating expenses driven by cost reduction initiatives.
The Group's profit before tax amounted to 2 516 MM NOK as of Q3 2026, a slight decrease of 1.1% compared to the same period last year. The decrease is mainly driven by lower net interest income and lower gross margin resulting from reduced portfolio volumes and lower insurance income.
Per Q3 2026, the Group's financial results showed a net interest income of 5 074 MM NOK, representing a decrease of 592 MM NOK (-10.5%) compared to Q3 2025. The change in net interest income was due to lower interest income of 1 123 MM NOK (-11.8%), partly offset by lower interest expenses of 530 MM NOK (-13.9%) compared to Q3 2025. Comparing the periods, both interest income and interest expenses have substantially decreased due to lower assets and lower market rates.
Net impairment losses ended 311 MM NOK lower in Q3 2026 vs Q3 2025, due to strong risk management driven by lower write-offs and non-performing loans.
As of Q3 2026, the Group's gross outstanding loans decreased with 17 946 MM NOK (-9.7%) compared to year end 2025. Auto shows a decrease of 13 868 MM NOK (-8.4%), driven by lower new business volumes across several Nordic markets. Unsecured loans are also showing a decrease of 4 079 MM NOK (-20.0%) mainly driven by lower new business volumes and portfolio run-off.
Customer deposits decreased with 10 035 MM NOK (-10.1%) vs. year-end 2025, reflecting planned portfolio optimization.
Contact information: pressnordics@gruposantander.com
Santander Consumer Bank is a part of Banco Santander. The bank has 1.3 million customers in the Nordics, is market leader within auto finance and offers a range of loan products, deposit and insurance.