SpareBank 1 SMN has another good year behind it. Over the course of 2015 CET1 capital rose by NOK 1.5bn to NOK 12.2bn. At year-end the CET1 ratio stood at 13.6%.
The directors are well satisfied with the performance for 2015. This is despite the decline in profit from 2014 which is mainly due to substantial extraordinary revenues in 2014. The Group achieved good growth in a highly competitive retail market and strengthened its market position. Reduced loan demand from the corporate segment in combination with a stronger focus on risk has enabled the bank to reduce lending growth in keeping with the assumptions of the capital plan. The board of directors has adopted a new target of 14.5% to be attained by 31 December 2016.