SpareBank 1 SR-Bank (SRBANK); Strong result with significant income growth, good cost control and lower losses
SpareBank 1 SR-Bank achieved a pre-tax profit of NOK 2,610 million for 2017 compared with NOK 2,158 million for 2016. The result was characterised by a good increase in ordinary operating income, a moderate increase in the group's operating costs and significantly lower impairment losses on loans compared with 2016. The return on equity after tax was 11.0% compared with 10.0% in 2016. The common equity tier 1 capital ratio had improved from 14.7% to 15.1% as at 31 December 2017. Impairment losses on loans and guarantees totalled NOK 543 million for the year, compared with NOK 778