February 25, 2017 6:38 PM ET

Banks

Company Overview of Sparebanken Vest

Company Overview

Sparebanken Vest, a financial services company, provides banking and financing services in the counties of Hordaland, Rogaland, and Sogn and Fjordane, Norway. It operates through Corporate Market, Retail Market, Treasury, and Estate Agency Activities segments. As of December 31, 2015, the company operated through 44 points of sale outlets. It is also involved in estate agency, home mortgages, and property management activities, as well as renting out premises to external tenants. The company was founded in 1823 and is headquartered in Bergen, Norway.

Jonsvollsgaten 2

Bergen,  5011

Norway

Founded in 1823

714 Employees

Phone:

47 0 55 55

Key Executives for Sparebanken Vest

Chief Executive Officer and Chairman of Validation Committee
Age: 45
Total Annual Compensation: 4.2M NOK
Director of Risk Management and Member of Validation Committee
Age: 57
Total Annual Compensation: 2.5M NOK
Director of CSR and Member of Validation Committee
Age: 60
Total Annual Compensation: 2.4M NOK
Director of Operational Services
Age: 45
Total Annual Compensation: 2.2M NOK
Director of Retail Market
Age: 47
Total Annual Compensation: 2.0M NOK
Compensation as of Fiscal Year 2015.

Sparebanken Vest Key Developments

Sparebanken Vest Reports Group and Parent Earnings Results for Fourth Quarter and Full Year Ended December 31, 2016

Sparebanken Vest reported group earnings results for fourth quarter and full year and bank earnings results for the year ended December 31, 2016. For the quarter, the company’s net interest and credit commission income was NOK 597 million against NOK 591 million a year ago. Net operating income was NOK 780 million against NOK 717 million a year ago. Profit before write-downs and tax was NOK 394 million against NOK 346 million a year ago. Pre-tax profit was NOK 361 million against NOK 341 million a year ago. Profit for the period was NOK 270 million against NOK 266 million a year ago. Diluted profit per equity certificate was NOK 1.08 against NOK 1.54 a year ago. Return on equity was 8.6% against 10.7% a year ago. For the year, the group’s net interest and credit commission income was NOK 2,399 million against NOK 2,354 million a year ago. Net operating income was NOK 3,242 million against NOK 2,948 million a year ago. Profit before write-downs and tax was NOK 1,972 million against NOK 1,505 million a year ago. Pre-tax profit was NOK 1,956 million against NOK 1,396 million a year ago. Profit for the period was NOK 1,521 million against NOK 1,047 million a year ago. Diluted profit per equity certificate was NOK 6.24 against NOK 6.32 a year ago. Return on equity on target was 13.1% against 11% a year ago. Net cash flow from operations was NOK 1,176 million against NOK 1,761 million a year ago. Payments made on purchases of operating assets etc. was NOK 124 million against NOK 277 million a year ago. For the fourth quarter, the parent’s net interest and credit commission income was NOK 482 million against NOK 441 million a year ago. Net operating income was NOK 968 million against NOK 935 million a year ago. Profit before write-downs and tax was NOK 647 million against NOK 627 million a year ago. Pre-tax profit was NOK 618 million against NOK 546 million a year ago. Profit for the period was NOK 542 million against NOK 515 million a year ago. Diluted profit per equity certificate was NOK 2.22 against NOK 3.08 a year ago. For the year, the parent’s net interest and credit commission income was NOK 1,869 million against NOK 1,708 million a year ago. Net operating income was NOK 2,908 million against NOK 2,431 million a year ago. Profit before write-downs and tax was NOK 1,901 million against NOK 1,232 million a year ago. Pre-tax profit was NOK 1,869 million against NOK 1,049 million a year ago. Profit for the period was NOK 1,526 million against NOK 884 million a year ago. Diluted profit per equity certificate was NOK 6.26 against NOK 5.34 a year ago.

Sparebanken Vest, Q4 2016 Earnings Call, Feb 01, 2017

Sparebanken Vest, Q4 2016 Earnings Call, Feb 01, 2017

Sparebanken Vest to Report Q4, 2016 Results on Feb 01, 2017

Sparebanken Vest announced that they will report Q4, 2016 results on Feb 01, 2017

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 9, 2016
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October 4, 2016
Sparebanken Vest, Portfolio Of Non-Performing Loans
 

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