SpareBank 1 Nord-Norge: Result First Quarter 2011
(Thomson Reuters ONE) -
Very good result and financial strength
The quarterly accounts that are presented today show a profit before tax of NOK
381 million.
There has been significant growth in deposits of 11 per cent over the last 12
months.
The bank's focus on the public sector has also shown good results with growth in
deposits of 18 per cent.
- Competence, good solutions and good terms have been decisive for the bank's
ability to strengthen its position in the market, says CEO Hans Olav Karde.
The Group's core operations is on par with last year and show a profit before
losses of NOK 149 million, which is an improvement of NOK 4 million compared to
the same period last year (adjusted for non-recurring effect of pension scheme
changes in 2010).
The losses are at a very low level, with net losses of only NOK 10 million,
which is NOK 11 million lower than the corresponding period previous year.
The bank is financially sound with a core capital adequacy ratio of 10.7 per
cent.
The combined profit attributable to the Group's subsidiaries was NOK 195 million
before tax, which is a significant improvement compared with first quarter 2010.
The Bank's important improvement in net gains compared to the same period in
2010 is mainly due to the adjustment in values of SpareBank 1 Nord-Norge Invest
AS' shareholding in Front Exploration AS.
- We are very satisfied and our employees have reason to be proud of the results
we are presenting today. Our advisers have been more active in the market and
have met with more retail and corporate customers than ever before. In addition,
our advisers are in the final phase of a demanding competence boost that will
further improve the customers' perception of SpareBank1 Nord-Norge as the
adviser bank, says Karde.
In Q1 2011, a bonus issue was carried out together with a split of the Bank's
equity certificates. Furthermore, the Bank's Supervisory Board has passed a
resolution to strengthen the Bank's equity by way of new issues for up to NOK
600 million.
SpareBank 1 Nord-Norge can point out with its vision of "For Northern Norway"
that around 90 per cent of its profits remain in the region. The bank has 74
branch offices in Northern Norway and Svalbard.
Key accounting figures can be found on page 1 in the enclosed memorandum. Any
questions may be directed to CEO Hans Olav Karde, tel. +47 901 51 981 or Deputy
CEO Oddmund Åsen, tel. +47 906 72 757. See also the bank's website atwww.snn.no.
Tromsø, 28 April 2011
for SpareBank 1 Nord-Norge
Stig-Arne Engen
Director of Communications
About SpareBank 1 Nord-Norge: SpareBank 1 Nord-Norge is a leading provider of
financial products and services within the retail banking and corporate banking
markets and public sector throughout the region. The Bank has a total customer
base of around 244,000 retail banking customers, around 36,500 corporate
customers, including public sector agencies, clubs and associations, and around
101,000 insurance customers. The Bank has 74 branch offices in Finnmark, Troms,
Nordland and Svalbard.
In September 2010, SpareBank 1 Nord-Norge established banking operations in
Russia through North-West 1 Alliance Bank. SpareBank 1 Nord-Norge holds a
75 per cent ownership interest in the bank, while the remaining 25 per cent of
the shares is owned by SpareBank 1 Nord-Norge's Russian partner Bank Tavrichesky
in St. Petersburg. The new bank is headquartered in St. Petersburg and has a
branch office in Murmansk.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Presentation of 1st Quarter 2011:
http://hugin.info/147/R/1510046/445018.pdf
1st Quarter 2011:
http://hugin.info/147/R/1510046/445017.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: SpareBank 1 Nord-Norge via Thomson Reuters ONE
[HUG#1510046]
Unternehmensinformation / Kurzprofil:
Datum: 28.04.2011 - 11:03 Uhr
Sprache: Deutsch
News-ID 53992
Anzahl Zeichen: 4821
contact information:
Town:
Tromsø
Kategorie:
Business News
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