Storebrand Bank ASA: Annual report 2016

The bank group achieved a profit before taxes of NOK 203 million for 2016 compared with NOK 86 million in 2015 for continued operations. Lower volume due to the planned winding up of the corporate market portfolio and lower lending margins in the retail market is reducing net interest income.

Other income increased due to a dividend recognised as income from the membership in Visa Norge FLI of NOK 25 million in connection with the sale of Visa Europe. In addition, other income is positively influenced by changes in value and realisation of financial instruments. The bank group achieved a profit after tax of NOK 158 million in 2016, compared with NOK 59 million in 2015.  

For further information contact:

CEO, Bernt Uppstad, mobile +47 901 68 821

Head of IR, Kjetil Ramberg Krøkje, mobile +47 934 12 155