1st quarter 2015

First quarter 2015

(Consolidated figures. Figures in parentheses refer to the same period of 2014 unless otherwise stated).

  • Pre-tax profit: NOK 567m (597m)
  • Net profit first quarter: NOK 441m (500m)
  • Return on equity: 14.1% (17.7%)
  • Growth in lending 10.0% (4.4%) in past 12 months
  • Growth in deposits 10.9% (5.4%) in past 12 months
  • CET1 capital ratio: 12.3% (11.1%)
  • Earnings per equity certificate: NOK 2.18 (2.48)
  • Book value per equity certificate: NOK 61.95 (56.39)

Good performance first quarter 2015

Main points:

  • Profit from core business strengthened by 8%. Increased net interest income from both the retail and corporate segment
  • Group profit down NOK 59m compared with first quarter 2014
  • High capital gains in first quarter 2014
  • Moderate cost growth
  • Low loan losses
  • CET1 ratio: 12.3% (11.1%). Advanced IRB and higher risk weights on home mortgage loans implemented in first quarter
  • Strong growth in lending and deposits
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