SRBNK: A stronger quarterly result with higher income and lower impairment losses
SpareBank 1 SR-Bank ASA (SRBANK) achieved a pre-tax profit of NOK 705 million for the fourth quarter of 2020, compared with NOK 626 million for the same quarter last year. The quarter’s results were characterised by growth, good profitability, efficient operations and a lower level of impairment losses compared with the year’s other quarters. The return on equity after tax for the quarter was 9.7%, compared with 8.3% for the same quarter last year, which is also an improvement from the previous quarter when the return on equity after tax was 8.2%. Impairment losses on loans and