SpareBank 1 SMN

Increased net profit by NOK 414m - Seite 2

 

"Møre and Romsdal have for some years been hit by the oil price fall in 2014, but our own economic barometer shows that business and industry in the county are recovering at full pace. We also see signs of improved prospects for offshore companies. Trøndelag has managed to steer clear of these challenges in the period, and businesses continue to show good, profitable growth. The barometer confirms increased optimism and greater belief in the future across the entire region," says Finn Haugan.

 

Greater optimism than in the last six years

This year's edition of SpareBank 1 SMN's economic barometer for Trøndelag and Møre and Romsdal was presented earlier in the week. The main points of the year's barometer are:

• Optimism on the part of business and industry is greater than at any time in the last six years according to a questionnaire survey of 600 business leaders
• Møre and Romsdal have recovered after the oil price fall and SpareBank 1 SMN sees positive prospects for the overall region for the first time since 2013
• Analysis of the 2017 accounts of a total of 35,000 mid-Norwegian businesses shows stable turnover growth and increased earnings. Slightly lower growth is noted in Trøndelag, whereas Møre and Romsdal show a turnround from negative to positive growth. Both counties show increased earnings.

 

Read more about Economic Barometer 2018 at smnkb.no

 

Accounts for the first nine months of 2018 - key figures:

• Pre-tax profit: NOK 1,937m (1,601m same period 2017)
• Post-tax profit: NOK 1,689m (1,275m)
• Return on equity: 13.3% (10.8%)
• Growth in lending: 7.3% (9.4%)
• Growth in deposits: 6.1% (10.3%)
• Loan losses: NOK 196m (263m)
• CET1 ratio: 14.9% (14.6%)
• Earnings per equity certificate: NOK 8.07 (6.08)

Trondheim, 26 October 2018

Contact persons at SpareBank 1 SMN:

Group CEO Finn Haugan on [phone]

Executive Vice President, Finance, Kjell Fordal on [phone]

Executive Vice President, Corporate Communications, Hans Tronstad on [phone]

 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

http://quarterlyreport.smn.no/2018/

Presentation
Supplementary information
Report

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Source: SpareBank 1 SMN via Globenewswire