SpareBank 1 Nord-Norge earns NOK 168 million in the first quarter of 2005
SpareBank 1 Nord-Norge today presents its interim accounts for the first quarter of 2005. The Group's operating result, before tax, but after credit losses, totalled NOK 168million, 10 per cent up on the corresponding interim period last year. Credit losses for the first quarter totalled NOK 11 million, down from NOK 56 million 12 months ago.
The main Board of Directors is very pleased with the first quarter result for 2005. It is particularly encouraging that the work aimed at enhancing the quality of the lending portfolio continues to produce positive results. The Bank will continue its work to reduce credit risk within certain commercial and industrial sectors. In the immediate future, every effort will also be made in order to boost revenue generation for the Group as a whole. The Bank will try to achieve this by increasing the level of risk-free income through the sale of other products and services, and also through increased growth within the lending area.
More details relating to the Group's various operational areas can be found in the attached financial information.
The full report including tables can be downloaded from the following link:
The presentation can be downloaded from the following link:
Any questions in this connection should be directed to Hans Olav Karde, Chief Executive Officer, telephone number: 77 62 24 01, or Oddmund Aasen, Deputy Chief Executive Officer, telephone number: 77 62 20 94. <!-- hugin-supplied --><br> <!-- hugin-supplied --><br> We would also refer to the Bank's home page: www.snn.co <!-- hugin-supplied --><br> <!-- hugin-supplied --><br> <!-- hugin-supplied --><br> Tromso, 28 April 2005 <!-- hugin-supplied --><br> For and on behalf of Sparebanken Nord-Norge <!-- hugin-supplied --><br> <!-- hugin-supplied --><br> Kjell Kolbeinsen <!-- hugin-supplied --><br> Director, Information and Public Relations Department