July 26, 2017 5:35 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 21 branches and 21 bank-in-shops in the county of Sogn og Fjordane, as well as 1 branch in Bergen. Sparebanken Sogn og Fjordane is headquartered in Førde, Norway. Sparebanken Sogn Og Fjordane is a subsidiary of Spar...

Langebruvegen 12

Førde,  6801

Norway

265 Employees

Phone:

47 57 82 97 00

Key Executives for Sparebanken Sogn Og Fjordane

Chief Executive Officer
Chief Financial Officer
Director of Human Resources
Corporate Banking Director
Retail Banking Director
Compensation as of Fiscal Year 2017.

Sparebanken Sogn Og Fjordane Key Developments

Sparebanken Sogn Og Fjordane Reports Unaudited Consolidated and Parent Earnings Results for the First Quarter Ended March 31, 2017; Reports Impairment Charges for the First Quarter Ended March 31, 2017

Sparebanken Sogn Og Fjordane reported unaudited consolidated and parent earnings results for the first quarter ended March 31, 2017. For the quarter, on consolidated basis, the company reported interest income of NOK 372 million compared to NOK 358 million for the same period a year ago. Net interest income was NOK 207 million compared to NOK 172 million last year. Total revenues were NOK 235 million compared to NOK 182 million last year. Profit before taxation was NOK 108 million compared to NOK 72 million last year. Profit was NOK 81 million compared to NOK 49 million last year. Net cash flow used in operating activities was NOK 276 million compared to NOK 197 million last year. Investments in fixed assets, intangible assets and goodwill were NOK 9 million compared to NOK 8 million last year. Return on equity was 9.11% against 7.09% a year ago. For the quarter, on parent basis, the company reported interest income of NOK 287 million compared to interest income of NOK 286 million for the same period a year ago. Net interest income was NOK 167 million compared to NOK 136 million last year. Total revenues were NOK 294 million compared to NOK 271 million last year. Profit before taxation was NOK 174 million compared to NOK 165 million last year. Profit was NOK 156 million compared to NOK 150 million last year. For the quarter, the company reported loan impairment charge of NOK 14 million compared to NOK 9 million last year.

Sparebanken Sogn Og Fjordane Announces Audited Parent Earnings Results for the Year Ended and Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016

Sparebanken Sogn Og Fjordane announced audited parent earnings results for the year ended and consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the year, on parent basis, the company's net interest income was NOK 644 million compared with NOK 604 million a year ago. Profit before taxation was NOK 456 million compared with NOK 286 million a year ago. Profit after taxation was NOK 377 million compared with NOK 238 million a year ago. Return on equity before tax was 13.31% compared with 9.13% a year ago. Return on equity was 10.65% compared with 11.04% a year ago. Total revenues were NOK 907 million compared with NOK 749 million a year ago. Net cash flow from operating activities was NOK 139 million compared with NOK 615 million a year ago. Investments in fixed assets, intangible assets and goodwill were NOK 42 million compared with NOK 19 million a year ago. For the year, on consolidated basis, the company's net interest income was NOK 779 million compared with NOK 754 million a year ago. Profit before taxation was NOK 468 million compared with NOK 331 million a year ago. Profit after taxation was NOK 353 million compared with NOK 245 million a year ago. Return on equity before tax was 13.11% compared with 10.13% a year ago. Return on equity was 9.53% compared with 10.77% a year ago. Total revenues were NOK 939 million compared with NOK 812 million a year ago. Net cash flow used in operating activities was NOK 751 million compared with NOK 1,738 million a year ago. Investments in fixed assets, intangible assets and goodwill were NOK 36 million compared with NOK 20 million a year ago. For the quarter, on consolidated basis, the company's net interest income was NOK 207 million compared with NOK 193 million a year ago. Profit before taxation was NOK 96 million compared with NOK 63 million a year ago. Profit after taxation was NOK 72 million compared with NOK 51 million a year ago. Total revenues were NOK 243 million compared with NOK 168 million a year ago.

Sparebanken Sogn Og Fjordane Proposes Dividend for the Year Ended December 31, 2016

Sparebanken Sogn Og Fjordane proposed dividend of NOK 1.00 per equity certificate at December 31, 2016 compared to NOK 2.78105 a year ago.

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Recent Private Companies Transactions

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