Q4: Strong result, strengthened banking operations and good customer growth
CORRECTION: The new revised target for common equity tier 1 ratio is 16.8 per cent.
Fourth quarter of 2019 (Consolidated figures. Figures in brackets concern the corresponding period in 2018)
• Profit before tax: NOK 406 (347) million
• Profit after tax: NOK 291 (322) million
• Return on equity: 7.3 (9.1) per cent
• Net interest income: NOK 584 (544) million
• Net commissions and other operating income: NOK 333 (313) million
• Net result from financial assets and liabilities: NOK 11 (7) million
• Total operating costs: NOK 490 (506) million
• Loan losses: NOK 33 (11) million
• Lending growth, inclusive of mortgages transferred to the covered bond companies, was 2.3 (0.7) per cent for the quarter. • Deposit growth was 2.1 (1.8) per cent for the quarter.
Reports can be found here.
See Preliminary financial statements 2019 below
Preliminary financial statements 2019
(Consolidated figures. Figures in brackets concern 2018)
• Profit after tax: NOK 1,928 (1,414) million
• Return on equity: 12.8 (10.5) per cent
• Earnings per equity certificate: NOK 11.55 (8.46)
• Net interest income: NOK 2,166 (2,074) million
• Net commissions and other operating income: NOK 1,388 (1,286) million
• Net result from financial assets and liabilities: NOK 735 (291) million
• Total operating costs: NOK 1,930 (1,881) million
• Loan losses: NOK 32 (35) million
• Common equity tier 1 ratio: 17.2 (16.8) per cent
• Lending growth in 2019, inclusive of mortgages transferred to the covered bond companies: 7.5 (8.2) per cent
• Deposit growth in 2019: 9.8 (8.4) per cent
• The Board of Directors is proposing to the Supervisory Board of the Bank a cash dividend of NOK 5.72 (4.12) per equity certificate, totalling NOK 663 (477) million. A customer dividend of NOK 266 (222) million and provisions of NOK 26 (6) million for donations are also proposed. Details concerning SpareBank 1 Østlandets results can be found here.
Election meeting for equity capital certificate holders in SpareBank 1 Østlandet
Election meeting for equity certificate holders in SpareBank 1 Østlandet (SPOL) on Thursday 13 February 11.30 in the Bank’s premises at Strandgata 15, Hamar.
Solid quarter from SpareBank 1 Østlandet
Third quarter of 2019
(Consolidated figures. Figures in brackets concern the corresponding period in 2018)
• Profit after tax: NOK 409 (362) million
• Return on equity: 10.7 (10.8) per cent
• Net interest income: NOK 554 (524) million
• Net commissions and other operating income: NOK 350 (316) million
• Net result from financial assets and liabilities: NOK 103 (90) million
• Total operating costs: NOK 457 (457) million
• Loan loss provisions: NOK 24 (12) million
Year to date as of 30 September 2019
(Consolidated figures. Figures in brackets concern the corresponding period in 2018)
• Profit after tax: NOK 1 637 (1 092) million
• Return on equity: 14.8 (11.1) per cent
• Earnings per equity certificate: NOK 9.72 (6.85)
• Net interest income: NOK 1 582 (1 530) million
• Net commissions and other operating income: NOK 1 055 (973) million
• Net result from financial assets and liabilities: NOK 724 (284) million
• Total operating costs: NOK 1 441 (1 375) million
• Loan loss provisions: NOK 0 (24) million
• Core equity tier 1 ratio: 16.7 (15.9) per cent
Annual report 2018
Very strong results for SpareBank 1 Østlandet in its first whole year of operation after the merger.
A quick overview
Contact
Geir-Egil Bolstad
CFO
+47 918 82 071
Runar Hauge
Portfolio Manager/IR
+47 482 95 659
