Annual accounts 2021

Net profit: 2,902 million

  • Profit before tax: NOK 3,501 million
  • Return on equity: 13.5 per cent
  • CET1 ratio: 18.0 per cent
  • Growth in lending: 6.9 per cent and in deposits: 14.1 per cent
  • Loan losses: NOK 161 million
  • Earnings per equity certificate (EC): NOK 13.31. Book value per EC incl. dividend proposed for 2021: NOK 103.48
  • Proposed dividend: NOK 7.5 per EC and NOK 547 million to be allocated to non-profit causes

Statement by the Group CEO 

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.

Read the statement by the Group CEO

Report of the Board of Directors

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.

Read the report of the Board of Directors

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