NONG - Earnings guidance Q4 result 2011
(Thomson Reuters ONE) -
The following information is disclosed in connection with the financial accounts
for 2011:
* Announcement to Oslo Stock exchange dated 8 April 2011 notified recognition
of an unrealised gain on the Group's shareholding in the company Front
Exploration AS (FrontX) of NOK 189 million.
Subsequent to a review and evaluation of the shareholding in FrontX and in order
to take account of factors involving risk and caution, the unrealised gain on
the shareholding has been written down by NOK 128 million as of 31 December
2011.
* The Financial Supervisory Authority of Norway (FSAN) issued a letter dated
22 November 2011 requesting Norwegian banks and finance institutions
specifically to evaluate the level of collective write-downs for impaired
value on loans. This was due to the expected impact of the international
debt crisis and expectations of a lower rate of growth in a number of
countries.
The bank has very low individual losses reported in 2011, but has decided, on
the background of the letter from the FSAN, to increase its collective write-
downs for impaired value on loans and guarantees in Q4 2011.
* As a result of the two above-mentioned factors, the Group's pre-tax result
after loan losses for Q4 in isolation will be close to zero.
* The bank's core operations remain good, and the Group's annual pre-tax
result after loan losses for 2011 will be in the region of NOK 770 million.
This constitutes a return on equity of approx. 10 %. The group's Tier 1
capital ratio is very good.
Contact persons at SpareBank 1 Nord-Norge
CEO Hans Olav Karde +47 90 15 19 81
CFO Rolf Eigil Bygdnes: +47 90 51 97 74
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Source: SpareBank 1 Nord-Norge via Thomson Reuters ONE
[HUG#1580791]
Unternehmensinformation / Kurzprofil:
Datum: 27.01.2012 - 14:00 Uhr
Sprache: Deutsch
News-ID 108541
Anzahl Zeichen: 2456
contact information:
Town:
Tromsø
Kategorie:
Business News
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