Growth in lending: 7.0% (5.7%) and in deposits: 8.9% (7.7%) over last 12 months
Growth in lending to retail borrowers: 7.9% (6.7%) over last 12 months
Growth in lending to corporate borrowers: 5.2% (3.6%) over last 12 months
Lending to retail borrowers accounts for 68% (68%) of total lending
Losses on loans and guarantees: NOK 478m (126m), 0.16% (0.16%) of gross outstanding loans
Earnings per EC: NOK 4.53 (8.23). Book value per EC: NOK 90.37 (87.04)
SpareBank 1 SMN recorded a post-tax profit of NOK 719m in the second quarter of 2020 compared with NOK 290m in the previous quarter. The second quarter brought higher growth, good financial earnings and lower losses. The group is gearing up to face sharp competition, lower economic growth and continued uncertainty about the corona pandemic.