Enity Holding AB/Skr ENITY

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About Enity Holding AB

Enity Holding AB, formerly known as Bluestep Bank AB, is a specialist mortgage provider operating in Sweden, Norway, and Finland. The company offers mortgage products, including first and second charge mortgages, equity release loans, and savings accounts, utilizing a cloud-based digital banking platform. Founded in 2004 and headquartered in Stockholm, Sweden, Enity serves approximately 33,000 customers across the Nordic region. In June 2025, Enity was listed on Nasdaq Stockholm, with its initial public offering priced at SEK 57 per share, resulting in a market capitalization of SEK 2.85 billion. The company has expanded its footprint through strategic acquisitions, such as the purchase of Bank2 in Norway in 2023 and Eiendomsfinans AS in 2025, enhancing its position in the Nordic mortgage market.
Ticker
Skr ENITY
Sector
Finance
Primary listing
XSTO
Employees
361
Headquarters
Stockholm, Sweden
Website
www.enity.com

Enity Holding AB Metrics

BasicAdvanced
kr 3.8B
10.97
kr 6.92
-
kr 1.40
1.84%

Bulls say / Bears say

Q2 showed solid operating momentum, with lending up 8% year on year, net interest income up 10% and a stable 4.2% net interest margin. The rolling 12-month return on tangible equity improved to 21%, while the credit-loss ratio remained low at 0.27%. (Enity)
Full ownership of Uno Finans strengthens an important distribution channel: partners already generate about 69% of sales. Enity expects the acquisition to support customer acquisition and profit generation, giving the group another route to grow beyond direct lending. (Inderes)
The shares look inexpensive if earnings forecasts hold. SB1 Markets initiated coverage with a Buy rating, citing a P/E of about 8 on underlying 2026 earnings, a fully secured SEK32 billion mortgage book and a SEK100 price target. (MarketScreener)
Reported profit rose, but underlying momentum was weaker: Q2 adjusted operating profit fell 4.6% year on year, while expenses rose 12% and the credit-loss charge doubled. The adjusted cost-to-income ratio also worsened to 45.6% from 41.4%. (Enity)
Housing activity remains subdued and the margin may come under pressure. Management expects the net interest margin to move back towards 4% as lending and deposit repricing takes effect, while Q2 lending was flat against the first quarter. (Yahoo Finance, Enity)
The Uno Finans acquisition used capital and temporarily pushed CET1 below Enity’s target buffer above regulatory requirements. Although the ratio recovered to 13.9% in Q2, it remained below the company’s stated 200–300 basis-point target buffer. (Enity, Exa)
Data summarised monthly by Lightyear AI. Last updated on 17 Sept 2026.
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Market data provided by CBOE Europe and Deutsche Börse.