July 25, 2016 11:57 PM ET

Banks

Company Overview of SpareBank 1 Nord-Norge

Company Overview

SpareBank 1 Nord-Norge supplies various financial products and services to the retail and corporate markets in Northern Norway. It offers various savings, deposit, lending, and insurance products, as well as payment services. Its activities also include purchase and sale of equities and fund units; interest rate and currency trading; sale of Norwegian bonds and certificates, and bond market issues; trading in commodity derivatives; investment advice; and asset management. In addition, the company engages in real estate brokerage, leasing, accounting, online banking, and consumer financing operations. It operates through a network of 62 branches. The company was founded in 1836 and is headqua...

Postboks 6800

Tromsø,  9298

Norway

Founded in 1836

764 Employees

Phone:

47 9 15 22 44

Key Executives for SpareBank 1 Nord-Norge

Chief Executive Officer
Age: 47
Total Annual Compensation: 4.1M NOK
Chief Financial Officer and Senior Group General Manager
Total Annual Compensation: 2.7M NOK
Chief Operating Officer and Senior Group General Manager
Total Annual Compensation: 2.4M NOK
Chief Executive Officer of Sparebank 1 Finans
Total Annual Compensation: 1.6M NOK
Chief Executive Officer of EiendomsMegler 1
Total Annual Compensation: 1.6M NOK
Compensation as of Fiscal Year 2015.

SpareBank 1 Nord-Norge Key Developments

SpareBank 1 Nord-Norge Reports Unaudited Group and Parent Earnings Result for the First Quarter Ended March 31, 2016

SpareBank 1 Nord-Norge reported unaudited group and parent earnings result for the first quarter ended March 31, 2016. For the period, on group basis, the company reported interest income of NOK 623 million against NOK 704 million for the same period a year ago. Net interest income was NOK 386 million against NOK 369 million for the same period a year ago. Result before tax was NOK 344 million against NOK 356 million for the same period a year ago. Result after tax was NOK 275 million or NOK 1.27 per diluted equity certificate against NOK 292 million or NOK 1.38 per diluted equity certificate for the same period a year ago. Return on equity capital was 10.98% against 12.49% for the same period a year ago. Negative net liquidity change from operations was NOK 1,348 million against NOK 1,149 million for the same period a year ago. For the period, on parent basis, the company reported interest income of NOK 578 million against NOK 662 million for the same period a year ago. Net interest income was NOK 339 million against NOK 321 million for the same period a year ago. Result before tax was NOK 334 million against NOK 305 million for the same period a year ago. Result after tax was NOK 274 million or NOK 1.27 per diluted equity certificate against NOK 251 million or NOK 1.18 per diluted equity certificate for the same period a year ago. Negative net liquidity change from operations was NOK 1,454 million against NOK 1,238 million for the same period a year ago.

SpareBank 1 Nord-Norge Announces Audited Group and Parent Earnings Results for the Year Ended December 31, 2015

SpareBank 1 Nord-Norge announced audited group and parent earnings results for the year ended December 31, 2015. For the year, on group basis, the company's net interest income was NOK 1,512 million compared with NOK 1,426 million a year ago. Result before losses was NOK 1,233 million compared with NOK 1,666 million a year ago. Result before tax was NOK 1,033 million compared with NOK 1,345 million a year ago. Net profit was NOK 872 million compared with NOK 1,096 million a year ago. Return on equity capital was 9.1% compared with 12.2% a year ago. Diluted result per equity certificates was NOK 4.11 compared with NOK 5.17 a year ago. Net liquidity change from operations was NOK 1,911 million compared with NOK 1,569 million a year ago. Investment in fixed assets was NOK 52 million compared with NOK 131 million a year ago. For the year, on parent basis, the company's net interest income was NOK 1,320 million compared with NOK 1,242 million a year ago. Result before losses was NOK 1,072 million compared with NOK 1,208 million a year ago. Result before tax was NOK 856 million compared with NOK 918 million a year ago. Profit for the year was NOK 730 million compared with NOK 743 million a year ago. Diluted result per equity certificates was NOK 3.44 compared with NOK 3.50 a year ago. Net liquidity change from operations was NOK 1,931 million compared with NOK 1,507 million a year ago. Investment in fixed assets was NOK 47 million compared with NOK 25 million a year ago.

SpareBank 1 Nord-Norge Approves Cash Dividend for the Year 2015, Payable on April 5, 2016

The Supervisory Board of SpareBank 1 Nord-Norge announced that at its Annual-General Meeting held on March 16, 2016 approved the proposed the cash dividend for 2015 of NOK 2.00 per equity certificate (EC), totaling NOK 200,796,032.00. Dividend will be paid to registered EC-holders as at March 16, 2016. The ECs will be quoted ex-dividend March 17, 2016. It is further informed that the cash dividend will be paid out April 5, 2016.

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