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.
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.