September 18, 2014 2:35 PM ET

Banks

Company Overview of SpareBank 1 Nord-Norge

Company Overview

SpareBank 1 Nord-Norge provides financial products and services to retail market customers, small and medium-sized companies, and the organization market primarily the trade union movement in Russia. The company offers lending and deposit, as well as savings and insurance products; and online banking, securities selling, investment advice, corporate finance, interest rate and currency, and asset management services. It operates through 74 branches in 64 municipalities, as well as Svalbard; and 2 branch offices in North-West Russia. The company was founded in 1836 and is headquartered in Tromsø, Norway.

Postboks 6800

Tromsø,  9298

Norway

Founded in 1836

919 Employees

Phone:

47 77 62 22 44

Fax:

47 77 62 25 71

Key Executives for SpareBank 1 Nord-Norge

Chief Executive Officer
Age: 45
Total Annual Compensation: $2.9M
Chief Financial Officer and Senior Group General Manager
Total Annual Compensation: $2.0M
Chief Executive Officer of SpareBank 1 Finans
Total Annual Compensation: $1.6M
Chief Executive Officer of EiendomsMegler 1
Total Annual Compensation: $1.5M
Chief Executive Officer of SNN Invest AS
Total Annual Compensation: $1.4M
Compensation as of Fiscal Year 2013.

SpareBank 1 Nord-Norge Key Developments

SpareBank 1 Nord-Norge Reports Group and Parent Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

SpareBank 1 Nord-Norge reported group and parent earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the group reported net interest income of NOK 342 million against NOK 309 million a year ago. Result before losses was NOK 446 million against NOK 309 million a year ago. Result before tax was NOK 424 million against NOK 262 million a year ago. Result after tax was NOK 353 million or NOK 1.66 per diluted equity certificate against NOK 206 million or NOK 1.34 per diluted equity certificate a year ago. Return on equity capital was 15.84% against 11.62% a year ago. For the six months, the group reported net interest income of NOK 670 million against NOK 589 million a year ago. Result before losses was NOK 944 million against NOK 584 million a year ago. Result before tax was NOK 897 million against NOK 497 million a year ago. Result after tax was NOK 754 million or NOK 3.55 per diluted equity certificate against NOK 402 million or NOK 2.61 per diluted equity certificate a year ago. Net liquidity change from operations was NOK 221 million against NOK 1,815 million a year ago. Investment in fixed assets (incl merger effects) was NOK 40 million against NOK 18 million a year ago. For the quarter, the parent company reported net interest income of NOK 293 million against NOK 268 million a year ago. Result before losses was NOK 447 million against NOK 523 million a year ago. Result before tax was NOK 409 million against NOK 479 million a year ago. Result after tax was NOK 350 million or NOK 1.65 per diluted equity certificate against NOK 433 million or NOK 2.81 per diluted equity certificate a year ago. For the six months, the parent company reported net interest income of NOK 573 million against NOK 509 million a year ago. Result before losses was NOK 900 million against NOK 733 million a year ago. Result before tax was NOK 842 million against NOK 657 million a year ago. Result after tax was NOK 720 million or NOK 3.40 per diluted equity certificate against NOK 579 million or NOK 3.75 per diluted equity certificate a year ago. Net liquidity change from operations was NOK 480 million against NOK 2,295 million a year ago. Investment in fixed assets (incl merger effects) was NOK 4 million against NOK 16 million a year ago.

SpareBank 1 Nord-Norge, Q2 2014 Earnings Call, Aug 13, 2014

SpareBank 1 Nord-Norge, Q2 2014 Earnings Call, Aug 13, 2014

SpareBank 1 Nord-Norge Announces Group Earnings Results for the First Quarter Ended March 31, 2014

SpareBank 1 Nord-Norge announced group earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported net interest income of NOK 328 million compared to NOK 280 million a year ago. Total net income was NOK 814 million compared to NOK 569 million a year ago. Profit before losses and write-downs was NOK 498 million compared to NOK 275 million a year ago. Profit before tax was NOK 473 million compared to NOK 235 million a year ago. Profit for the period was NOK 401 million compared to NOK 196 million a year ago. Return on equity capital was 18.6% compared to 11.3% a year ago. Underlying banking operations were NOK 255 million compared to NOK 184 million a year ago. Underlying banking operations after losses were NOK 230 million compared to NOK 144 million a year ago. Earnings per equity certificate was NOK 1.89 compared to NOK 1.23 a year ago.

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