SpareBank 1 Nord-Norge's results for the first quarter of 2024 show916 million NOK before tax. This is13 million kroner higher than the same quarter in 2023. CEOHanne Karoline Kræmer comments on the numbers: - I am very pleased that we are growing while managing to reduce our costs. Our costs are105 million NOK lower than in the fourth quarter of 2023. Overall, the situation is pretty much like what we have seen in recent years. The business climate inNorthern Norway is generally positive. Bankruptcy rates are low, and so are unemployment figures. All of this positively impacts our results.SpareBank 1 Nord-Norge has experienced growth both in the retail market and the corporate market. - Over the past 12 months, growth in the retail market has been 3.7%, and in the corporate market, it's 13.8%. Looking at the first quarter, the annualized growth rates are 2% and 6.4%, respectively, according to Kræmer. The bank has, for some time, also served customers outside the region, primarily consisting of people who have moved away from northernNorway . Now, this effort is strengthened. - We see that traditional market boundaries are fading. This is because most transactions can be handled digitally, erasing geographical limitations. We receive inquiries from people buying homes further south in the country who want us to be their bank. These customers include both former northern residents and individuals with no ties toNorthern Norway .SpareBank 1 Nord-Norge offers competitive terms and has garnered attention for its green loans. To accommodate profitable growth without establishing physical offices in the south, we now have set up a dedicated team to serve customers outside our region. OnWednesday, May 8th at 09:00,SpareBank 1 Nord-Norge will present the results for the 1st quarter in a webinar. The broadcast can be followed at www.snn.no/investor. The presentation will only be held in Norwegian.Key Figures (Comparable to 2023 numbers in parentheses): o Pre-tax result:916 million NOK (903 million NOK ) o Return on equity: 17.8% (19.1%) o C/I-ratio: 33.9% (33.2%) o Losses:36 million NOK (-57 million NOK ) o CET1: 17% (17.3%) Contact Persons atSpareBank 1 Nord-Norge : o CEOHanne Karoline Kræmer , phone: +47 414 70 483 o CFOBengt Olsen , phone: +47 975 89 560 o CCO Stein Vidar Loftås, phone: +47 951 26 576 This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. Thisstock exchange announcement was published by Morten Tønder Albertsen, Head of Communications atSpareBank 1 Nord-Norge , onMay 8, 2024 at07:00 CET .
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