Net profit: 2,902 million
In 2021 we learned to live with the constant twists and turns of the Covid-19 pandemic, at the same time as our commitment to the people and businesses in the region stands firm. Increased market shares and economic growth mean we can look back on another unusual but good year.
In 2021 SpareBank 1 SMN delivered its best ever profit of NOK 2,902m after tax and a return on equity of 13.5 per cent. All business lines are performing well and strengthening their market position. This provides a good basis on which to realise the group’s ambitions.
Despite high infection rates the outlook for the Norwegian economy is good. The omicron variant of the virus brings high infection rates but few hospital admissions, and infection protection measures have been considerably relaxed. Unemployment has been further reduced and a general optimism is in evidence in the business sector in the Norwegian and regional economies. However, labour shortages in some sectors pose a challenge and may curb growth.
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