December 13, 2017 2:58 PM ET

Thrifts and Mortgage Finance

Company Overview of Sparebanken Vest Boligkreditt AS

Company Overview

Sparebanken Vest Boligkreditt AS provides loans secured by mortgages in Norway. The company was founded in 2008 and is headquartered in Bergen, Norway. Sparebanken Vest Boligkreditt AS is a subsidiary of Sparebanken Vest.

Jonsvollsgaten 2

Bergen,  5011

Norway

Founded in 2008

1 Employees

Key Executives for Sparebanken Vest Boligkreditt AS

Chief Executive Officer and Managing Director
Chief Operating Officer
Compensation as of Fiscal Year 2017.

Sparebanken Vest Boligkreditt AS Key Developments

Sparebanken Vest Boligkreditt AS Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017

Sparebanken Vest Boligkreditt AS reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the nine months, the company reported net interest income and similar income of NOK 501 million compared with NOK 432 million for the same period a year ago. Net operating income was NOK 154 million compared with NOK 373 million for the same period a year ago. Pre-tax profit was NOK 142 million compared with NOK 321 million for the same period a year ago. Profit for the period was NOK 108 million or NOK 27.3 per diluted share compared with NOK 240 million or NOK 79.8 per diluted share for the same period a year ago. Net cash outflow from operations was NOK 22 million compared with net cash inflow from operations of NOK 202 million for the same period a year ago. Interest income and similar income was NOK 1,202 million compared with NOK 1,114 million for the same period a year ago. For the quarter, the company reported net interest income and similar income of NOK 193 million compared with NOK 130 million for the same period a year ago. Net operating income was NOK 95 million compared with NOK 83 million for the same period a year ago. Pre-tax profit was NOK 92 million compared with NOK 65 million for the same period a year ago. Profit for the period was NOK 70 million or NOK 6.9 per diluted share compared with NOK 49 million or NOK 13.2 per diluted share for the same period a year ago. Interest income and similar income was NOK 413 million compared with NOK 356 million for the same period a year ago.

Sparebanken Vest Boligkreditt AS Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2017

Sparebanken Vest Boligkreditt AS reported unaudited earnings results for the second quarter and six months ended June 30, 2017. For six months, the company reported interest income and similar income of NOK 789 million compared to NOK 758 million a year ago. Net interest and credit commission income was of NOK 308 million compared to NOK 302 million a year ago. Net operating income was NOK 59 million compared to NOK 290 million a year ago. Profit before write-downs and tax was of NOK 52 million compared to NOK 258 million a year ago. Pre-tax profit was NOK 50 million compared to NOK 257 million a year ago. Profit was NOK 38 or NOK 8.3 per share compared to NOK 192 or NOK 63.3 per share a year ago. Net cash flow from operations was of NOK 102 million compared to NOK 75 million a year ago. For the quarter, the company reported interest income and similar income of NOK 393 million compared to NOK 367 million a year ago. Net interest and credit commission income was of NOK 162 million compared to NOK 143 million a year ago. Net operating income was NOK 42 million compared to NOK 115 million a year ago. Profit before write-downs and tax was of NOK 38 million compared to NOK 99 million a year ago. Pre-tax profit was NOK 37 million compared to NOK 99 million a year ago. Profit was NOK 28 million or NOK 6.9 per share compared to NOK 74 million or NOK 23.0 per share a year ago.

Sparebanken Vest Boligkreditt AS Announces Unaudited Earnings Results for the First Quarter Ended March 31, 2017

Sparebanken Vest Boligkreditt AS announced unaudited earnings results for the first quarter ended March 31, 2017. For the first quarter, the company reported net interest and credit commission income of NOK 146 million against NOK 159 million a year ago. Net operating income was NOK 17 million against NOK 175 million a year ago. Pre-tax profit was NOK 13 million against NOK 157 million a year ago. Profit for the period was NOK 10 million or NOK 1.4 per share against NOK 118 million or NOK 43 per share a year ago. Net cash flow used in operations was NOK 119 million against net cash flow from operations of NOK 45 million a year ago. Payments related to other assets were NOK 1,180 million against NOK 795 million a year ago.

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