A good result despite of continued pressure on net interest income
SpareBank 1 SR-Bank achieved a profit before tax of NOK 336 million as at 31 March 2011. The NOK 59 million reduction in profit compared with the same period last year is attributed to the effect of the contractual pension (AFP) items totalling NOK 73 million last year. The return on equity after tax was 11.2 per cent, compared with 14.8 per cent for the same period last year. "This is a good result marked by generally good underlying operations in the bank and our subsidiaries. It is satisfying to see an increasing loan demand and noticeably higher level of activity in the business