Annual accounts 2016
- Profit before tax: NOK 1,983m
- Net profit: NOK 1,647 m
- Return on equity: 11.3 per cent
- CET1 ratio: 14.90 per cent
- Growth in lending: 8.0 per cent and in deposits: 4.8 per cent
- Loan losses: NOK 516m
- Earnings per equity certificate (EC): NOK 7.91. Book value per EC incl. dividend proposed for 2016: NOK 73.26
- Proposed dividend: NOK 3.00 per EC and NOK 220m to be allocated to non-profit causes
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Statement by the Group CEO
SpareBank 1 SMN has contributed to the development of Trøndelag for almost 200 years, and in the past decade the same goes for Møre and Romsdal. We do this both by knowledge-based funding of businesses and private individuals, and by allocating parts of the bank’s net profit to good causes in the spheres of business development, culture and the arts, and sports. In that way we are more than a bank for our customers.
Report of the Board of Directors
The bank has shown a satisfactory trend with a strengthened market position and a strong financial result, and CET1 capital adequacy has climbed to 14.9 per cent. The Board expects changing customer behaviour and new technology to set the stage for further cost efficiencies.The board is pleased with the Group’s achievements and results for 2016.
