GrønlandsBANKEN: Strong Q2 2026 results
Summary
- GrønlandsBANKEN reported a pre-tax profit of DKK 97.4 million for H1 2026, up from DKK 84.4 million in H1 2025, driven by lower markdowns and stable core earnings.
- Q2 2026 pre-tax profit was DKK 61.2 million, significantly higher than Q1 2026's DKK 36.3 million, reflecting strong quarterly performance.
- The bank maintains its raised pre-tax profit guidance for 2026 at DKK 195-220 million, with expected H2 2026 profit between DKK 98-123 million, indicating annual growth of 8-21% from 2025.
- GrønlandsBANKEN's financial progress includes a decrease in costs to DKK 126.2 million and a capital ratio of 27.3%, with loans increasing by DKK 115 million to DKK 5.0 billion in H1 2026.
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Automatic translation: Originally published in undefined 19/08/2026, 20:12 GMT. Give feedback here.
GrønlandsBANKEN published its H1 2026 financial results this evening, showing solid progress on the bottom line compared to the previous year. A strong Q2 offsets a weaker Q1, and the bank maintains the guidance that was raised in July.
GrønlandsBANKEN thus achieved a pre-tax profit of DKK 97.4 million in H1 2026, compared to DKK 84.4 million in the same period in 2025. In Q2 2026 alone, the pre-tax profit was DKK 61.2 million vs. DKK 36.3 million in Q1 2026 and DKK 45.3 million in Q2 2025.
The progress is primarily driven by significantly lower markdowns of DKK 3.9 million vs. DKK 14.5 million in H1 2025, while the core earnings are largely unchanged at DKK 95.5 million vs. DKK 94.7 million. Net interest and fee income marginally decreased by DKK 0.9 million to DKK 218.8 million—but returned to growth in Q2—and costs, including depreciation, decreased to DKK 126.2 million from DKK 128.4 million. Loans grew by DKK 115 million to DKK 5.0 billion in the first half of the year, and the capital ratio is 27.3%.
GrønlandsBANKEN maintains its expectation of a pre-tax profit for 2026 of DKK 195-220 million, which was raised from DKK 180-205 million in a stock exchange announcement on July 20, 2026, on the back of the positive development in the bank's activities in H1. The expected positive effect from the sale of the ownership stake in BEC to Nykredit is already included in the expectations, as it triggered the upward revision back in April, while the actual implementation is still awaiting conditions and regulatory approvals. The current guidance indicates a pre-tax profit in H2 2026 of DKK 98-123 million and an overall annual growth of 8-21% compared to DKK 181.4 million in 2025.
You can read the full financial report here: https://www.banken.gl/da/om-os/investor-relations/regnskaber/
Remember that tomorrow – Thursday, August 20, at 11:00 AM – we have the great pleasure of inviting you to a review of the half-year report and the latest developments. From GrønlandsBANKEN, we will have bank director Martin Kviesgaard, who will also answer questions from the audience. Register here: https://www.inderes.dk/videos/gronlandsbanken-praesentation-af-regnskabet-for-2-kvartal-2026
Disclaimer: HC Andersen Capital receives payment from GrønlandsBANKEN for a Digital IR subscription agreement. /Rasmus Køjborg, CFA at 10:10 PM on 08/19-2026.