March 03, 2015 6:20 PM ET

Banks

Company Overview of Sparebanken Sogn Og Fjordane

Company Overview

Sparebanken Sogn og Fjordane provides banking products and services to retail customers, small and medium sized enterprises, and the public sector and financial sector in the county of Sogn og Fjordane, Norway. It operates through Corporate Banking Market/Public Sector, Retail Market, Finance, Estate Agency, and Other segments. The company offers various deposit products; and financing, investment, estate agency, insurance, and foreign currency services, as well as interest rate instruments. It also provides loans for various industries, including farming and forestry; fish farming; fishing; building/construction and power/water supply; commerce; hotels and restaurants; and property manageme...

Langebruvegen 12

Førde,  6801

Norway

269 Employees

Phone:

47 57 82 97 00

Fax:

47 57 82 97 01

Key Executives for Sparebanken Sogn Og Fjordane

Chief Executive Officer and Managing Director
Chief Financial Officer
Director of Communications & Community Contact
Director of Human Resources
Director of Strategy and Business Development
Compensation as of Fiscal Year 2014.

Sparebanken Sogn Og Fjordane Key Developments

Sparebanken Sogn Og Fjordane Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014 and Unaudited Parent Earnings Results for the Full Year Ended December 31, 2014; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2014

Sparebanken Sogn Og Fjordane reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014 and unaudited parent earnings results for the full year ended December 31, 2014. For the quarter, on consolidated basis, the company reported interest income of NOK 432 million compared to interest income of NOK 427 million for the same period a year ago. Net interest income was NOK 189 million compared to NOK 185 million last year. Total revenues were NOK 230 million compared to NOK 246 million last year. Profit before taxation was NOK 74 million compared to NOK 141 million last year. Profit was NOK 60 million compared to NOK 102 million last year. Excluding re-measurements of pensions return on equity for the fourth quarter was 8.6%. Profit in the fourth quarter of 2013 was particularly high due to a strong contribution from changes in the value of financial instruments. For the year, on consolidated basis, the company reported interest income of NOK 1,721 million compared to interest income of NOK 1,652 million for the same period a year ago. Net interest income was NOK 726 million compared to NOK 666 million last year. Total revenues were NOK 924 million compared to NOK 859 million last year. Profit before taxation was NOK 521 million compared to NOK 475 million last year. Profit was NOK 397 million compared to NOK 343 million last year. Net cash flow from operating activities was NOK 274 million compared to NOK 561 million last year. Investments in fixed assets, intangible assets and goodwill were NOK 35 million compared to NOK 19 million last year. Total operating income was NOK 924 million compared to NOK 859 million last year. Return on equity (comprehensive income) was 10.83% compared to 12.81% last year. Return on equity before tax was 16.12% compared to 17.55% last year. For the year, on parent basis, the company reported interest income of NOK 1,407 million compared to interest income of NOK 1,380 million for the same period a year ago. Net interest income was NOK 570 million compared to NOK 527 million last year. Total revenues were NOK 850 million compared to NOK 778 million last year. Profit before taxation was NOK 423 million compared to NOK 410 million last year. Profit was NOK 353 million compared to NOK 316 million last year. For the quarter, the company reported loan impairment charge of NOK 49 million compared to NOK 12 million last year.

Sparebanken Sogn Og Fjordane Announces Earnings Results for Third Quarter of 2014

Sparebanken Sogn Og Fjordane announced earnings results for third quarter of 2014. For the quarter, the company reported net interest income of $536, operating income of $93, profit before loan impairment charge of $372, profit before taxation of $413, profit after taxation of $313, return on equity of 12.93% compared to the net interest income of $482, operating income of $97, profit before loan impairment charge of $331, profit before taxation of $335, profit after taxation of $241, return on equity of 12.09% for the same quarter a year ago.

Sparebanken Sogn Og Fjordane Reports Unaudited Consolidated and Parent Financial Results for the Six Months Ended June 30, 2014

Sparebanken Sogn Og Fjordane reported unaudited consolidated and parent financial results for the six months ended June 30, 2014. For the six months, the group reported interest income of NOK 852 million against NOK 805 million for the same period of last year. Net interest income was NOK 351 million against NOK 306 million for the same period of last year. The reasons for this increase were higher customer margins, lower funding costs and strong growth in customer deposits and loans. Total revenues were NOK 418 million against NOK 402 million for the same period of last year. Profit before loan impairment charge and net gain on fixed assets was NOK 244 million against NOK 233 million for the same period of last year. Profit before taxation was NOK 229 million against NOK 206 million for the same period of last year. Profit for the reporting period was NOK 168 million against NOK 148 million for the same period of last year. Net cash flow from operating activities was NOK 500 million against NOK 447 million for the same period of last year. Return on equity (comprehensive income) was 13.66% against 10.79% for the same period of last year. For the six months, the parent company reported interest income of NOK 698 million against NOK 678 million for the same period of last year. Net interest income was NOK 273 million against NOK 245 million for the same period of last year. Total revenues were NOK 431 million against NOK 333 million for the same period of last year. Profit before loan impairment charge and net gain on fixed assets was NOK 263 million against NOK 170 million for the same period of last year. Profit before taxation was NOK 242 million against NOK 143 million for the same period of last year. Profit for the reporting period was NOK 205 million against NOK 103 million for the same period of last year. Net cash flow from operating activities was NOK 540 million against NOK 451 million for the same period of last year. Return on equity (comprehensive income) was 16.78% against 7.7% for the same period of last year.

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