Annual accounts 2022

Net profit: 2,785 million

  • Profit before tax and result investment held for sale: NOK 3,324 million
  • Return on equity: 12.3 per cent
  • Growth in lending: 8.1 per cent and in deposits: 9.6 per cent
  • Net result of ownership interests: NOK 442m 
  • Net result of financial instruments (incl. dividends): minus NOK 61m
  • Net recovery of losses on loans and guarantees: NOK 7m
  • Earnings per equity certificate (EC): NOK 12.82
  • Proposed dividend: NOK 6.5 per EC and NOK 474 million to be allocated to non-profit causes

Statement by the Group CEO 

I often reflect on the legacy managed by SpareBank 1 SMN and the responsibility we hold. On the one hand it’s about continuing our DNA – about maintaining our presence, local-level decision making and active social commitment. On the other it’s about evolving to meet a world in rapid change and more uncertain than for a long time.

Read the statement by the Group CEO

Report of the Board of Directors

SpareBank 1 SMN delivered an excellent result in 2022, and is on target in terms of profitability and capitalisation. The business lines have performed well and the group’s market position has strengthened.

At the start of 2023 uncertainty in the economy persists with a reduction in households’ purchasing power and increased pessimism in business and industry. Unemployment nonetheless remains extremely low in Mid-Norway, at the same time as there are signs that inflation is levelling off and expectations that the base rate is close to peaking.

Read the report of the Board of Directors

© SpareBank 1 SMN