1st quarter 2012

(Consolidated figures. Figures in parentheses refer to the same period of 2011 unless otherwise stated)  

• Profit before tax: NOK 340m (325m)
• First quarter profit: NOK 272m (255m)
• Return on equity: 13.0% (13.2%)
• Lending growth: 9.9% (11.4%) over past 12 months
• Deposit growth: 14.2% (14.1%) over past 12 months
• Tier 1 capital adequacy: 10.3% (10.6%). When stock issues carried out are included, tier 1 capital stands at 11.3%
• Earnings per equity capital certificate (ECC): NOK 1.42 (1.52) 

Good profit performance for the first quarter 2012

 Highlights:

• Profit growth compared with the same period of 2011
• Lending margins strengthened over the quarter
• Positive income trend in core business, good return on financial investments and positive development in SpareBank 1 Gruppen
• Very low loan losses
• Robust financial position and good funding
• High growth in home mortgage lending and high growth in both retail and corporate deposits