Grønlandsbanken A/S

The BANK of Greenland’s report for the first half of 2026

Result for the first half of 2026
The BANK of Greenland’s profit before tax amounts to DKK 97.4 for the first half of 2026, compared to DKK 84.4 million for the first half of 2025. The profit before tax gives a return of 13.1 % p.a. on opening equity after disbursement of dividend.

The profit before value adjustments and write-downs amount to DKK 95.5 million compared to DKK 94.7 million for the previous year. The profit exceeds expectations at the beginning of the year, with improvement in both net interest and expenses.

Lending has increased by DKK 115 million since the end of 2025, amounting to DKK 5.037 million at the end of the first half-year. It was expected that the declining level of interest rates in 2025 would increase the Bank's customers' appetite for investment, resulting in moderate growth in the Bank’s lending in 2026. Guarantees at the same time increased by DKK 6 million from DKK 1.276 million at the end of 2025 to DKK 1.282 million at the end of the first half of 2026.

After positive development in net interest and fee income in Q2, this item only decreased by DKK 0.9 million to DKK 218.8 million in the first half of 2026.

Total expenses including depreciation amounted to DKK 126.2 million at the end of the first half of 2026, compared to DKK 128.4 million for the same period of 2025. The decrease concerns IT expenses, with a reduction in the Bank's development costs in BEC Financial Technologies a.m.b.a in the first half-year of 2026.

At the end of the first half of 2026, value adjustments show a capital gain of DKK 5.8 million, compared to a capital gain of DKK 4.3 million for the same period of 2025. 

Impairments of loans and guarantees amounted to DKK 3.9 million in the first half of 2026, compared to DKK 14.5 million in the first half of 2025. For the period, write-downs and provisions was 0.1 % of the BANK’s total lending and guarantees.

Solvency ratio was of 27.3 and the capital requirement of 10.4 %.

In the stock exchange announcement of 20 July 2026, the forecast profit before tax for 2026 was adjusted upwards to a range of DKK 195-220 million, which remains unchanged.

Attachments

• 11.Kvartalsrapport Q2 2026_UK
• 11.Kvartalsrapport Q2 2026_UK