Sparebanken Sogn og Fjordane Reports Q2 2024 Financial Highlights: Net Interest Income Rises Despite Profit Decline

Highlights 2nd quarter 2024 (Figures in parentheses are same quarter last year):

• Net interest income NOK 394 million (NOK 356 million)

• Results of financial instruments DKK 24 million. SEK (60 million)

• Operating costs DKK 159 million. SEK (128 million)

• Expense percentage 34.2% (27.7%)

• Loan loss NOK 19 million (reversed / recognized as income NOK 11 million)

• Profit before tax NOK 287 million (NOK 345 million)

• Profit after tax NOK 221 million (NOK 270 million)

• Profit after tax per EK Certificate NOK 9.78 (NOK 12.03)

• Return on equity after tax 12.8% (16.6%)

• Capital adequacy ratio 20.7% % (20.4%)

Key definitions so far in 2024 (Figures in parentheses are the same period last year):

• Net interest income NOK 781 million (NOK 706 million)

• Results of financial instruments DKK 51 million. SEK (74 million SEK)

• Operating costs DKK 316 million. SEK (255 million SEK)

• Expense percentage 34.5% (29.6%)

• Loss on loan NOK 8 million (reversed / recognized as income NOK 16 million)

• Profit before tax NOK 593 million (NOK 623 million)

• Profit after tax NOK 453 million (NOK 479 million)

• Result of each EC Certificate 20.04 (21.38)

• Return on equity 13.1% (14.8%)

Source: Sparebanken Sogn og Fjordane