Solid profit through prudent banking

13 Feb 2025 07:30 CET

SpareBank 1 Nord-Norge delivers a result for 2024 of NOK 4,512 million before
tax. For 2023 this was NOK 3,273 million.

– Although the result is to some extent influenced by one-off effects, this also
indicates good underlying operations, says Group CEO Hanne Karoline Kræmer.

The CEO emphasizes that the group's relative ownership share in the SpareBank 1
Alliance pays off.

– We own almost 20 percent of the Alliance, and I have high expectations that
this will yield good results. In 2024, we see these effects clearly. Both from
the high relative ownership share, but also from the one-off effects that come
after the insurance merger between Fremtind and Eika.

Kræmer reports continued growth in both the corporate and retail markets.

– The annual growth is 3.8 percent in the corporate market and 5.6 percent in
the retail market. 4 out of 10 of the people living in Northern Norway have
chosen us as their financial partner, and it makes me immensely proud. At the
same time, losses are kept at a low level, she says.

High Dividends and Solid Returns

SpareBank 1 Nord-Norge is well-capitalized, and 53.7 percent of the surplus is
therefore distributed as dividends.

– We propose a dividend of NOK 8.75 per equity certificate. We can do this
without weakening our growth opportunities. The dividend also ensures a
community dividend of more than NOK 1,000 million. Parts of this will go to the
foundation Stiftelsen for Nord-Norge, which will secure equity for solid
northern Norwegian businesses that need capital to grow in and for Northern
Norway. As a savings bank, we are very concerned with contributing to the
development of the region, and the community dividend enables us to do so. A
strong region is essential for a strong bank, says Kræmer.

The profitability of the group is also good.

– The group has a goal, when speaking of return on equity, at the top among
comparable financial groups. We are of course very satisfied with 21.8 percent,
and SpareBank 1 Nord-Norge is the most profitable bank in the Nordics, measured
by ROE the past 10 years.


Key Figures:

• Pretax profit: NOK 4,512 million (3,273)
• Return on equity: 21.8% (16.4%)
• C/I ratio: 30.2% (35%)
• Losses: NOK 110 million (116)
• Core capital ratio: 16.8% (17.1%)
• Dividend: NOK 8.75 per equity certificate (7)
(Comparable figures for 2023 in brackets)

Contacts:

• CEO Hanne Karoline Kræmer, phone 414 70 483
• CFO Bengt Olsen, phone 975 89 560
• COS Stein Vidar Loftås, phone 951 26 576

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act. This stock exchange announcement was
published by Morten Tønder Albertsen, Head of Communications at SpareBank 1
Nord-Norge, on February 13, 2025 at 07:30 CET.

More information:
Access the news on Oslo Bors NewsWeb site

638524_Quarterly presentation 4Q24 - SpareBank 1 Nord-Norge.pdf
638524_Quarterly Report 4Q24 - SpareBank 1 Nord-Norge.pdf