KBN / Stable earnings and an increased share of green loans
29 October 2026KBN’s net interest income totalled NOK 633 million in the third quarter of 2026, compared to NOK 588 million in the same period in 2025.
KBN’s green loan portfolio increased by NOK 2 billion in the third quarter of 2026, compared to NOK 1 billion in the same period in 2025. At the end of the third quarter of 2026, KBN’s green lending represented 22 % of its overall lending portfolio.
Results for the third quarter
KBN’s core earnings1 totalled NOK 336 million in the third quarter of 2026, compared to NOK 308 million in the same period in 2025. KBN’s net interest income totalled NOK 633 million in the third quarter of 2026, as compared to NOK 588 million in the same period in 2025.
- KBN continues to see good earnings from hedging contracts used to convert exposures into Norwegian kroner. This is the main driver of the increase in income compared with last year, says KBN CEO Jannicke Trumpy Granquist.
Lending
KBN’s lending portfolio totalled NOK 382 billion2 at the end of the third quarter of 2026, while aggregate customer financing3 totalled NOK 396 billion4 at the end of the third quarter of 2026. KBN's aggregate customer financing increased by NOK 5 billion in the third quarter of 2026, as compared to a decrease of NOK 2 billion in the third 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 nine months of 2026 totalled approximately NOK 96 billion through 66 bond issues in 11 currencies, as compared to NOK 114 billion in the same period in 2025.
See the full report for Q3 2026
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