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A good first quarter for SpareBank 1 Østlandet
SpareBank 1 Østlandet’s consolidated accounts for Q1 2021 showed a net profit of NOK 439 (266*) million. “Considering the coronavirus pandemic, this is an excellent net profit for the quarter. The net profit is characterised by net reversal on loan losses, high contributions from subsidiaries, fees and commission income, as well as good cost control,” says Richard Heiberg, Group CEO of SpareBank 1 Østlandet.
SpareBank 1 Østlandet’s operations in 2020 were characterised by high activity levels, interactive customer contact and strong customer growth. The consolidated profit amounted to NOK 1,608 (1,928) million after tax.