SpareBank 1 SR-Bank ASA (SRBANK): A good annual result characterised by solid underlying operations, one-off income and a high level of activity
SpareBank 1 SR-Bank achieved a pre-tax profit of NOK 3,817 million for 2019 compared with NOK 2,892 million in the preceding year. This profit is characterised by significant one-off income, increased operating income and increases in costs as a result of high levels of activity during the year when compared with 2018. The return on equity after tax was 14.0 % compared with 11.3 % in 2018. With the effects of the Fremtind Forsikring AS merger taken into account, the return on equity after tax was 12.1 %. Impairment losses on loans and guarantees totalled NOK 235 million for the full