Q2 and H1 2026 Results
Continued organic earnings growth and MedMera Bank acquisition completed.
Investor Relations
Morrow Bank is a specialized consumer finance bank that offers a wide range of attractive and flexible financing solutions. We follow a strategy of product-wise and geographical expansion focused on the attractive Nordic markets.Performance per Q2 2026
18.0 billion
Gross loans: SEK 18.0 billion, up 19 per cent year-on-year²27.7%
Cost/income ratio, excluding one-offs, vs 25.8% in Q2 2025, temporarily elevated by preparations for the MedMera integration²0.31
Earnings per share: SEK 0.31, vs SEK 0.27 in Q2 2025²16.3%
Return on target equity (ROTE): 16.3%, vs 12.2% in Q2 2025² ⁴Our investment case
Pure-play Nordic consumer finance
Proven platform scalability - 42% EPS CAGR 2022-2025
Swedish-domiciled, listed on Nasdaq Stockholm
Accretive MedMera acquisition – loan book +~65%
Ambition to more than double EPS from 2025 to 2028
Our long-term ambitions
>10% annual loan growth Targeting a loan book of SEK ~23bn
Increased efficiency Cost/income ratio of ~22%
Reduced loan lossesLoan loss ratio of ~4%
