2013 proved to be another good year for SpareBank 1 SMN. We achieved a profit of NOK 1,400m, an increase of NOK 323m from the previous year. Return on equity was 13.3 per cent, an improvement of 1.6 percentage points from 2012.
The 2013 profit performance was excellent and confirms that steps taken under the Group's capital plan are having good effect. The core business is on a very positive trend and shows the Group's ability to generate satisfactory return on the increased capital. The aim is attain a Group core capital ratio of 13.5 per cent without opting for a stock market flotation.