[ad_1]
The Sbanken Group recorded strong loan growth in the second quarter of 2018. Net profit rose to NOK 209.2 million, compared to NOK 154.7 million in the second quarter of the previous year.
Profit before tax was 254.7 million
Operating profit before loan losses amounted to 268.1 million NOK against 214.4 million NOK at the previous crossroads
Operating expenses amounted to NOK 168.3 million in the quarter, compared to NOK 203.6 million the previous year. Net interest income amounted to NOK 327.5 million compared to NOK 310.6 million in the second quarter of 2017. This result is due to the increase in loans to customers, but partially offset by a reduction in the net interest margin. The margin of interest was 1.47%, compared to 1.57% in the second quarter of 2017 and 1.66% in the first quarter of 2018.
At the end of the quarter, total customer lending was increased to NOK 76.8 billion compared to NOK 71.1 billion at the end of the second quarter of 2017.
Return on equity was 15.3% compared to 12.4% at previous crosses. The increase in earnings is mainly attributable to gains from the merger between Vipps, BankAxept and BankID, as well as Visa Norway's transition from partnership to public limited company.
Net loss amounted to NOK 13.5 million during the quarter. The loss ratio was 0.07%
At the end of the quarter, Sbanken had a core capital ratio of 14.8%, a core capital ratio of 16.2% and an equity ratio of own funds of 18.0%
. 19659011] – We continue our strong growth, delivering strong results this quarter. In addition to a solid financial performance, Sbank has again been proclaimed by the Norwegian Customer Barometer so that Norwegian banking customers are the most satisfied. We have an agreement with Apple to distribute their Apple Pay pay to our customers. This consolidates Sbanken's position as an innovative bank and leader in digital solutions. Our strong capital position combined with an evolving business model and attractive products support continued earnings growth, "said Magnar Øyhovden, managing director of Sbanken ASA in a message.
See here live presentation of kl. 08.30
Quarterly Report
Introduction
[ad_2]
Source link
