Stronger result driven by growth and solid underlying operations
SpareBank 1 SR-Bank (SRBNK) posted a pre-tax profit of NOK 1,225 million for the fourth quarter of 2022. The return on equity after tax for the quarter was 14.6%. Profit increased by NOK 152 million compared with the fourth quarter in 2021, and was driven by lending growth, good underlying operations and low impairment provisions. NOK 106 million of the increase was linked to the sale of a subsidiary, Bjergsted Terrasse AS. The return on equity increased from 14.1% in the same quarter in 2021. The group saw total lending growth of 9.8%, NOK 22.7 billion, in the past 12 months. A