Strong results characterised by good underlying operations and significantly lower impairment provisions
SpareBank 1 SR-Bank ASA (SRBNK) achieved profit growth of 52% with a pre-tax profit of NOK 1,073 million for the fourth quarter of 2021, compared with NOK 705 million for the same quarter in 2020. The results were characterised by increases in net interest income, commissions, and financial income, as well as lower losses, compared with the same period in 2020. The return on equity after tax was 14.0% for the quarter, compared with 9.7% for the fourth quarter of 2020, and up from 11.7% in the third quarter of 2021. A net NOK 24 million of impairments on loans and financial liabilities