SpareBank 1 Nord-Norge - Accounts Q1 2012
(Thomson Reuters ONE) -
GREAT ACTIVITY IN THE FIRST QUARTER
SpareBank 1 Nord-Norge is moving ahead and delivered good results in Q1 2012.
The bank's financial strength is very good.
"There is a great deal of activity in the market and there has been a great
growth in lending in the first quarter. Growth in lending to the corporate
market over the last 12 months was 12.8 per cent, against 4.1 per cent for the
same period the preceding year. Lending to the private market grew by 8.9 per
cent, compared with 7 per cent in the first three months last year," says CEO
Hans Olav Karde of SpareBank 1 Nord-Norge.
Operating result before tax at the end of the first quarter 2012 amounted to NOK
232 million. The amount for the same period in 2011 was NOK 381 million. Last
year's result was affected by a book value increase in the shareholding in
FrontX amounting to NOK 189 million. Underlying banking operations are
satisfactory, posting a profit before losses of NOK 125 million, NOK 24 million
less than the corresponding quarter in 2011.
The deposit coverage ratio is 77.9 per cent, compared with 79.4 per cent at the
end of Q1 2011. The group is financially sound with a core capital ratio (group)
of 11.6 per cent (10.7 per cent) and total capital adequacy of 12.4 per cent
(11.7 per cent). SpareBank 1 Nord-Norge continues to have satisfactory
liquidity.
"This shows that the Group is financially very strong and is well equipped to
meet the requirements of the market and the authorities," says Karde
Return on equity after tax ended at 12.1 per cent (23.3 per cent for the same
period in 2011). Earnings per equity certificate (Group) were NOK 1.23 (NOK
2.41).
The Group's net losses on loans at the end of Q1 2012 totalled NOK 42 million.
The net losses are divided between NOK 43 million from the corporate market and
NOK 1 million from the retail market. Of the losses in the corporate market,
NOK 31 million refers to loss on one single commitment.
"SpareBank 1 Nord-Norge's authorised advisers have devoted a high level of
customer activity to contributing to lending growth in the private and corporate
markets. This means that the bank is contributing to the positive development of
the region and is in a position to contribute to even further growth in future.
At the same time, tough competition has put pressure on the bank's interest
margin, which means that it is still important to focus on costs in distribution
and staffing," says Karde.
Key figures from the accounts (see attached note page 1). Any questions may be
directed to CEO Hans Olav Karde, tel. (+47) 901 51 981 or deputy CEO Oddmund
Åsen, Tel. (+47) 906 72 757. Please also see the Bank's website at www.snn.no.
Tromsø, 26 April 2012
for SpareBank 1 for Nord-Norge
Stig-Arne Engen
Director of Communications
About SpareBank 1 Nord-Norge: SpareBank 1 Nord-Norge is a leading provider of
financial products and services within the retail banking and corporate banking
markets throughout the region. The bank has a total customer base of some
244,000 retail banking customers, approximately 36,500 corporate customers
including the public sector, organisations and associations, as well as
around 101,000 insurance customers. The bank has 74 branches in Finnmark, Troms,
Nordland and on Svalbard.
In September 2010, SpareBank 1 Nord-Norge established banking operations in
Russia through North West 1 Alliance Bank. SpareBank 1 Nord-Norge holds a
75percent ownership interest in the bank, whilst the remaining 25percent of the
shares are owned by SpareBank 1 Nord-Norge's Russian partner Bank Tavrichesky in
St. Petersburg. The new bank's head office will be in St. Petersburg and it
will have a branch in Murmansk.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
Presentation of 1st Quarter 2012:
http://hugin.info/147/R/1606372/509200.pdf
1st Quarter 2012:
http://hugin.info/147/R/1606372/509199.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: SpareBank 1 Nord-Norge via Thomson Reuters ONE
[HUG#1606372]
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 26.04.2012 - 08:17 Uhr
Sprache: Deutsch
News-ID 1107638
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
Tromsø
Phone:
Kategorie:
Business News
Anmerkungen:
Diese Pressemitteilung wurde bisher 62 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"SpareBank 1 Nord-Norge - Accounts Q1 2012
"
steht unter der journalistisch-redaktionellen Verantwortung von
SpareBank 1 Nord-Norge (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
