Annual accounts 2014

  • Profit of NOK 1,782 after tax
  • Return on equity 15.1 per cent
  • Common tier 1 ratio 11.2 per cent
  • Growth in lending 7.3 per cent and growth in deposits 8.5 per cent
  • Loss on loans NOK 89m
  • Earnings per equity certificate (EC) NOK 8.82
  • Book value per EC NOK 62.04
  • Recommended dividend NOK 2.25 per EC
Årsrapport 2014

Statement by the Group CEO

2014 was another good year for SpareBank 1 SMN with a profit of NOK 1,782m after tax, an increase of NOK 382m over the previous year. This is the Bank's best ever performance measured in kroner.

Read the statement by the Group CEO

Report of the Board of Directors

The directors are highly pleased with the performance for 2014. The core business has achieved good income growth while at the same time cost growth is moderate and losses are being kept to very low levels. The directors are highly satisfied with the employees' achievement in 2014. The Bank strengthened its market position in the retail segment in 2014, and shows sound growth in all business areas. The intention is to attain the CET1 target of 13.5 per cent in 2016 without carrying out an ordinary equity capital issue. Through the project SMN 2020, new service concepts are being developed and the cost level adapted to ensure that SpareBank 1 SMN is seen to be best for customer experience, thereby maintaining its competitive power.

Read the report of the Board of Directors

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