Financial Statement Q3 2014 SpareBank 1 Nord-Norge

SpareBank 1 Nord-Norge accounts for 3rd quarter 2014.

Highlights:

•Profit before tax: NOK 1,269 million (NOK 856 million)
•Profit after tax: NOK 1,061 million (NOK 692 million)
•Return on equity after tax (annualised) of 15.9% (12.9%)
•Earnings per equity certificate: NOK 5.01 (NOK 4.35) (Group, year-to-date) 
•Net income from financial investments of NOK 551 million (NOK 261 million)
•Cost ratio 41.8% (47.4%)
•Loan losses NOK 85 million (NOK 122 million)
•Lending growth in the last 12 months 6.2% (5.9%), including intermediary loans  
•Retail market 6.9% (8.4%)  
•Corporate market 4.5% (0.6%)
•Growth in deposits in the last 12 months 3.3% (1.6%)  
•Retail market 8.1% (6.1%)  
•Corporate market 9.0% (0.9%)  
•Public sector market -21.5% (-10.0%) 
•Deposit coverage ratio: 75.2% (77.6%)
•Common equity tier 1 capital ratio Group (transition scheme), including 50 % of profit for the year 13.24 % (10.79 %)
•In the Board's opinion, the Bank's financial strength suggests a faster normalisation of the dividend payout ratio. Assuming no unforeseen events, the plan therefore is to increase the payout ratio of the Group's profit for 2014 and 2015.
•Very good liquidity