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Sweden's Enity Holding Q3 net interest income rises 11%

By Reuters News


Overview

  • Sweden-based mortgage lender's Q3 net interest income rose 11% yr/yr, lending up 11%

  • Q3 profit rose 5% yr/yr, with EPS up 8%

  • Commission income surged after Uno acquisition, but fell qtr/qtr due to slow market


Outlook

  • Company did not provide specific guidance for future quarters or the full year in its press release


Result Drivers

  • LENDING GROWTH - Lending rose 11% yr/yr, or 5% adjusted for currency effects, supporting higher net interest income

  • UNO ACQUISITION - Commission income increased following the Uno acquisition, though it declined qtr/qtr due to a slow market

  • CREDIT QUALITY - Credit quality improved and the credit loss ratio remained broadly stable, according to the company


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Income

SEK 119 mln

Q3 Net Interest Income

SEK 342 mln

Q3 Adjusted Operating Income

SEK 170 mln

Q3 Net Commission Income

SEK 63 mln

Q3 Net Interest Margin (%)

4.20%


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the consumer lending peer group is "buy"

  • Wall Street's median 12-month price target for Enity Holding AB (publ) is SEK106.50, about 36.5% above its November 4 closing price of SEK78.00


Reuters Recommended Reads

  • Nov 3 - Sweden's NOBA Bank Group Q3 loan portfolio rises on growth across segments

  • Nov 3 - Singapore's United Overseas Bank Q3 profit falls from previous quarter

  • Nov 3 - Sweden's Flat Capital Q3 NAV falls as Klarna share decline weighs


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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