March 02, 2015 4:35 PM ET

Banks

Company Overview of Gjensidige Bank ASA

Company Overview

Gjensidige Bank ASA provides banking services to retail customers in Norway. The company offers mortgages, unsecured loans, car financing, savings, and credit cards, as well as Internet, mobile, and tablet banking services. It serves private persons and the agricultural market. The company was founded in 2007 and is headquartered in Oslo, Norway. Gjensidige Bank ASA is a subsidiary of Gjensidige Bank Holding AS.

Schweigaards gate 14

Oslo,  0185

Norway

Founded in 2007

139 Employees

Key Executives for Gjensidige Bank ASA

Chief Executive Officer
Chief Financial Officer
Director of Operations
Chief Executive Officer of Gjensidige Bank Boligkreditt AS
Director of Treasury and Branch Manager of Førde
Compensation as of Fiscal Year 2014.

Gjensidige Bank ASA Key Developments

Gjensidige Bank Announces Group Earnings Results for Third Quarter and Nine Months Ended September 30, 2014

Gjensidige Bank announced group earnings results for third quarter and nine months ended September 30, 2014. For the quarter, the company reported interest income of NOK 330,531,000, net interest income of NOK 145,530,000, profit before tax expense of NOK 71,488,000, profit of NOK 52,186,000 or NOK 59.6 per basic and diluted share compared to the interest income of NOK 293,445,000, net interest income of NOK 139,776,000, profit before tax expense of NOK 49,822,000, profit of NOK 35,872,000 or NOK 40.9 per basic and diluted share for the same quarter a year ago. For the year to date, the company reported interest income of NOK 984,651,000, net interest income of NOK 440,774,000, profit before tax expense of NOK 204,942,000, profit of NOK 149,084,000 or NOK 110.60 per basic and diluted share compared to the interest income of NOK 816,471,000, net interest income of NOK 398,455,000, profit before tax expense of NOK 140,838,000, profit of NOK 101,403,000 or NOK 74.80 per basic and diluted share for the same period a year ago. Net cash outflow from operating activities compared to NOK 529,962,000 compared to NOK 3,721,729,000 a year ago. Net purchase of intangible assets and fixed assets were of NOK 5,784,000 compared to NOK 21,908,000 a year ago.

Gjensidige Bank (Norway) to Report Q4, 2014 Results on Feb 04, 2015

Gjensidige Bank (Norway) announced that they will report Q4, 2014 results on Feb 04, 2015

Gjensidige Bank Announces Unaudited Consolidated and Parent Earnings Results for the First Quarter Ended March 31, 2014

Gjensidige Bank announced unaudited consolidated and parent earnings results for the first quarter ended March 31, 2014. For the quarter, on consolidated basis, the company reported interest income etc. of NOK 325,472,000 against NOK 252,881,000 a year ago. Net interest income was NOK 148,184,000 against NOK 126,420,000 a year ago. Net commission income and other operating income was NOK 16,513,000 against NOK 10,417,000 a year ago. Total income was NOK 164,696,000 against NOK 136,836,000 a year ago. Profit before loan losses was NOK 61,891,000 against NOK 47,928,000 a year ago. Profit before tax expense was NOK 61,891,000 against NOK 47,928,000 a year ago. Profit for the period was NOK 45,181,000 or NOK 51.6 per basic and diluted share against NOK 34,508,000 or NOK 39.4 per basic and diluted share a year ago. Net cash flow from operating activities was NOK 341,323,000 against NOK 652,328,000 a year ago. Net purchase of intangible assets and fixed assets was NOK 1,001,000 against NOK 4,608,000 a year ago. Return on equity was 13.5% against 14.2% a year ago. The positive development was mainly a result of increased net interest income, coming from the growth in customer lending. Increased expenses driven by business growth partially off set the improvement. For the quarter, on company basis, the company reported interest income etc. of NOK 245,646,000 against NOK 204,797,000 a year ago. Net interest income was NOK 108,484,000 against NOK 104,435,000 a year ago. Net commission income and other operating income was NOK 17,470,000 against NOK 10,707,000 a year ago. Total income was NOK 125,954,000 against NOK 115,142,000 a year ago. Profit before loan losses was NOK 40,953,000 against NOK 42,043,000 a year ago. Profit before tax expense was NOK 22,883,000 against NOK 28,313,000 a year ago. Profit for the period was NOK 16,704,000 or NOK 19.1 per basic and diluted share against NOK 20,385,000 or NOK 23.3 per basic and diluted share a year ago.

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