| 30.04.03 | << back |
| Sparebanken Midt-Norge: First quarter accounts 2003 | |
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| Sparebanken Midt-Norge recorded a net profit of NOK 26 million in the first quarter compared with NOK 90 million in the same period last year. The profit reduction compared with last year's first quarter is ascribable to losses on securities trading and higher loan losses. The reduction is also related to last year's excellent first-quarter result which featured high securities gains (NOK 25 million) and gains on sales of long-term shareholdings (NOK 29 million).
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Highlights
- Pre-tax profit: NOK 38 million (127 million)
- Net interest income: NOK 216 million (213 million)
- Return on equity: 5% (16.4%)
- Lending growth over last 12 months: 6.7%
- Deposit growth over last 12 months: 3.9%
- Portfolio of equity funds and other savings products down
NOK 44 million; insurance portfolio continues to increase
- Net capital losses and dividend on short-term term investments: -NOK 4 million (+NOK 24 million)
- The SpareBank 1 Group reports a loss of NOK 30 million, of which SpareBank 1 Midt-Norge's share is -NOK 4 million (-6 million).
Key figures at end-march 2003, figures for 2002 in parenthesis
Interest income 645 (630)
Interest expenses 428 (418)
Net interest income 216 (213)
Other operating income, net 65 (85)
Total income 281 (297)
Operating expenses 183 (176)
Result before losses and gains 99 (122)
Losses on loans etc. 60 (24)
Gain on long-term financial assets 0 (29)
Result of ordinary operations 38 (127)
Tax charge 12 (37)
Net profit 26 (90)
Gross loans to customers 31 448 (29 464)
Other assets 3 973 (3 506)
Total assets 35 422 (32 970)
Total liabilities 33 288 (30 731)
Total equity 2 133 (2 239)
Total liabilities and equity 35 422 (32 970)
For more information, contact:
Man. director Finn Haugan, tel. + 47 73 58 64 87
Group director Kjell Fordal, tel. + 47 73 58 64 71 |
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