Investor Relations
Financial calendar
11 August
2nd quarter 2020: Publishing of results
30 October
3rd Quarter 2020: Publishing of results
Annual report
SpareBank 1 SMN intends to be a digital bank with a personal and local signature.
Financial information
1st quarter 2020
- Operating profit before losses and return on financial assets: NOK 564m (496m)
- Pre-tax profit: NOK 357m (1,155m)
- Post-tax profit: NOK 290m (1,046m)
- Return on equity: 5.7% (23.3%)
- CET1 ratio: 16.3% (14.8%)
- Growth in lending: 6.0% (6.6%) and in deposits: 8.7% (6.8%)
- Lending to retail borrowers accounts for 69% (68%) of total lending
- Losses on loans and guarantees: NOK 308m (67m)
- Gain of NOK 340m on sales of personal risk products to Fremtind Forsikring (460m)
- Negative return on financial investments after increase in credit spreads in the liquidity portfolio of NOK 124m (plus 169m)
- Share of loss recorded by SpareBank 1 Gruppen: NOK 115m (gain of NOK 169m)
- Earnings per EC: NOK 1.26 (5.02). Book value per EC: NOK 86.85 (83.86)
SpareBank 1 SMN maintains a sound liquidity position and is well capitalised. The group has a strong foundation in the shape of a broad and well-diversified earnings platform. Core business excluding loan losses delivered good results in the first quarter with a strong revenue performance and moderate cost growth. The overall result nonetheless reflects the times of crisis by increased loan losses, losses on securities and losses recorded by SpareBank 1 Gruppen.
Sustainability
SpareBank 1 SMN aims to contribute to society’s value creation through responsible banking operations that instil public confidence in the bank.
