Investor Relations

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Investor Relations


Preliminary annual result for 2017

Pre-tax profit: NOK 2,610 million (NOK 2,158 million)
Return on equity after tax: 11.0% (10.0%)
Net interest income: NOK 3,162 million (NOK 2,871 million)
Operating costs: NOK 2,167 million (NOK 2,032 million)
Impairment losses on loans: NOK 543 million (NOK 778 million)
Common equity tier 1 capital ratio: 15.1% (14.7%)
(As at 31 December 2016 in brackets) 

Strong result with significant income growth, good cost control and lower losses


Strong result with significant income growth, good cost control and lower losses

"I am very pleased that all of the business areas in the group have contributed to the good return on equity we have delivered in spite of the fact that total impairments for 2017 remain above what we regard as a normalised level," said the chief executive Arne Austreid.

SpareBank 1 SR-Bank achieved a pre-tax profit of NOK 2,610 million for 2017 compared with NOK 2,158 million for 2016. The result was characterised by a good increase in ordinary operating income, a moderate increase in the group's operating costs and significantly lower impairment losses on loans compared with 2016.

The return on equity after tax was 11.0% compared with 10.0% in 2016. The common equity tier 1 capital ratio had improved from 14.7% to 15.1% as at 31 December 2017.

Impairment losses on loans and guarantees totalled NOK 543 million for the year, compared with NOK 778 million in 2016. 

"We have invested heavily in new technology in the last few years and were one of the first banks to use robots. We did this so we could both handle various types of customer enquiries better and increase the efficiency of manual, in-house processes. We are now seeing the effects with significantly better customer services and greater operating efficiency," said Arne Austreid.

 


Contacts

Inge Reinertsen
Konserndirektør økonomi og finans
+47 909 95 033
Stian Helgøy
Direktør Investor Relations
+47 906 52 173