Solid first quarter for SpareBank 1 Nord-Norge
SpareBank 1 Nord-Norge is posting a result of almost half a billion Norwegian kroner for the first quarter of 2014.
Pressemelding engelsk Regnskap 1 kvartal 2014 Sparebank 1 Nord-NorgePressemelding engelsk Regnskap 1 kvartal 2014 Sparebank 1 Nord-NorgePressemelding engelsk Regnskap 1 kvartal 2014 Sparebank 1 Nord-Norge
"The first quarter result was very good. This was partly due to strong operations and partly due to the profit from the sale of the bank's stake in the payment systems company, Nets," says Jan-Frode Janson, chief executive of SpareBank 1 Nord-Norge.
The operating profit before tax was NOK 473 million, compared with NOK 235 million for the first quarter of 2012.
Solid equity
SpareBank 1 Nord-Norge used its strong performance in 2013 to build up solid equity. SpareBank 1 Nord-Norge's tier 1 capital ratio has increased from 12.30% to 12.86% since the beginning of last year to today.
"The level of capital in SpareBank 1 Nord-Norge is one of the highest of the Norwegian major banks. This development is in line with the authorities' requirements and means that we can grow significantly in the future. Northern Norway's estimated GDP growth for 2014 is 4%, which is double the national average. It is important to SpareBank 1 Nord-Norge that it can participate in the growth this region is enjoying," says Janson.
Strengthened position as the region's bank
SpareBank 1 Nord-Norge focused on the Group's core business last year. The Group's regional directors have been given greater authority and short decision chains have been implemented for Northern Norwegian banking customers. This has strengthened SpareBank 1 Nord-Norge's position as the region's bank.
"With NOK 100 billion under management and more than 920 full time equivalents in our 94 offices and local branches, SpareBank 1 Nord-Norge enjoys a dominant role in Northern Norway. With the region as our largest owner, 90% of our profits remain in the region," says Janson.
Stronger mandate for the regional offices
In order to strengthen its role as Northern Norway's own financial group, SpareBank 1 Nord-Norge is simplifying the organisation of corporate functions and strengthening the mandates of the regional offices. The new structure will result in fewer senior group general managers with more functions and give stronger mandates to the bank's five regional offices in Finnmark, Troms, Hålogaland, Salten and Helgeland.
"SpareBank 1 Nord-Norge has put a lot of effort into simplifying the organisation and making it more customer-oriented. As part of this work, it was recently decided to reduce the number of units and improve coordination between the business areas. The number of managers has therefore been reduced," says Janson.
Tromsø, 6 May 2014
Contact people:
CEO Jan-Frode Janson, Mobile no.: (+47) 909 75 183
Head of Communication Geir Håvard Hanssen, Mobile no.: (+47) 950 52 001