January 19, 2017 8:35 AM ET

Banks

Company Overview of Sparebanken Sogn Og Fjordane

Company Overview

Sparebanken Sogn og Fjordane provides banking products and services to small and medium-sized enterprises, the public and financial sector, and retail customers primarily in the county of Sogn og Fjordane Norway. The company offers various deposit products, financing, investment, insurance, and foreign currency services, as well as pension and payment services; and interest rate instruments. It also manages various properties; and provides estate agency services. The company has 23 branches and 23 bank-in-shop outlets in 21 municipalities in the county of Sogn og Fjordane. Sparebanken Sogn og Fjordane is headquartered in Førde, Norway.Sparebanken Sogn Og Fjordane operates as a subsidiary of ...

Langebruvegen 12

Førde,  6801

Norway

266 Employees

Phone:

47 57 82 97 00

Key Executives for Sparebanken Sogn Og Fjordane

Chief Executive Officer and Managing Director
Chief Financial Officer
Director of Human Resources
Director of Strategy & Business Development
Corporate Banking Director
Compensation as of Fiscal Year 2016.

Sparebanken Sogn Og Fjordane Key Developments

Sparebanken Sogn og Fjordane Announces Unaudited Consolidated Financial Results for the Third Quarter and Consolidated and Parent Financial Results for the Nine Months Ended September 30, 2016; Reports Impairment Charge for the Third Quarter Ended September 30, 2016

Sparebanken Sogn og Fjordane announced unaudited consolidated financial results for the third quarter and consolidated and parent financial results for the nine months ended September 30, 2016. For the third quarter, on consolidated basis, the company’s net interest income was NOK 203 million against NOK 189 million for the same period last year. Total revenues were NOK 271 million against NOK 224 million for the same period last year. Profit before loan impairment charge and net gain on fixed assets was NOK 178 million against NOK 137 million for the same period last year. Profit before taxation was NOK 163 million against NOK 50 million for the same period last year. Profit for the reporting period was NOK 122 million against NOK 39 million for the same period last year. For the nine months, on consolidated basis, the company’s net interest income was NOK 572 million against NOK 560 million for the same period last year. Total revenues were NOK 696 million against NOK 644 million for the same period last year. Profit before loan impairment charge and net gain on fixed assets was NOK 449 million against NOK 367 million for the same period last year. Profit before taxation was NOK 372 million against NOK 268 million for the same period last year. Profit for the reporting period was NOK 281 million against NOK 194 million for the same period last year. Net cash flow from operating activities was NOK 413 million against NOK 503 million for the same period last year. Investments in fixed assets, intangible assets and goodwill was NOK 24 million against NOK 15 million for the same period last year. Return on equity before tax was 13.88% against 10.93% for the same period last year. Return on equity (comprehensive income) was 10% against 9.26% for the same period last year. For the nine months, on parent basis, net interest income was NOK 469 million compared to NOK 450 million a year ago. Total revenues were NOK 704 million compared to NOK 632 million a year ago. Profit before loan impairment charge and net gain on fixed assets was NOK 471 million compared to NOK 369 million a year ago. Profit before taxation was NOK 395 million compared to NOK 268 million a year ago. Profit for the reporting period was NOK 331 million compared to NOK 222 million a year ago. For the third quarter, the company's loan impairment charge was NOK 15 million against NOK 87 million for the same period last year.

Parebanken Sogn Og Fjordane Announces Earnings Results for the Second Quarter Ended June 30, 2016; Announces Loan Impairment Charges for the Second Quarter Ended June 30, 2016

Sparebanken Sogn Og Fjordane announced earnings results for the second quarter ended June 30, 2016. For the quarter, the company reported net interest income of NOK 369 million compared to NOK 371 million a year ago. profit before taxation was NOK 209 million compared to NOK 218 million a year ago. profit after taxation of NOK 159 million compared NOK 155 million a year ago. Return on equity was 7.03% compared to 10.23% a year ago. The company announced loan impairment charges for the second quarter ended June 30, 2016 For the quarter, the company reported loan impairment charges of NOK 62 million compared to NOK 12 million a year ago.

Sparebanken Sogn Og Fjordane Announces Earnings Results for First Quarter Ended March 31, 2016

Sparebanken Sogn Og Fjordane announced earnings results for first quarter ended March 31, 2016. For the quarter, the company reported net interest income of NOK 172 million, profit before taxation of NOK 72 million, profit after taxation of NOK 49 million, return on equity of 7.09% compared to the net interest income of NOK 188 million, profit before taxation of NOK 95 million, profit after taxation of NOK 68 million, return on equity of 9.13% for the same quarter a year ago.

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