Sparebanken Vest, Board Meeting, Apr 24, 2013. Agenda: To consider the minutes of the meeting of the supervisory board on March 20, 2013; to consider the briefing by the managing director ­ interim report 1/2013 and the status of the business; to consider the status of strategy implementation and adjustment of expenses, capital requirements and other measures; to consider the future office structure; to consider the donations for the public benefit; to consider the election of officers of the company; to consider the renewal of authorisation to purchase own equity certificates; and to consider any other business.

Sparebanken Vest reported group and parent earnings results for the first quarter ended March 31, 2013. For the quarter, on group basis, the company reported net interest income and credit commissions of NOK 459 million against NOK 422 million a year ago. Net operating income was NOK 649 million against NOK 660 million a year ago. Profit before write-downs and tax was NOK 295 million against NOK 293 million a year ago. Pre-tax profit was NOK 273 million against NOK 243 million a year ago. Profit for the period was NOK 196 million against NOK 182 million a year ago. Diluted profit per equity certificate was NOK 1.33 against NOK 1.31 a year ago. Return on equity (annualized) was 10.4% against 10.4% a year ago. Net cash flow from operations was NOK 398 million against NOK 565 million a year ago. Payments made on purchases of operating assets etc. was NOK 42 million against NOK 34 million a year ago. For the quarter, on parent basis, the company reported net interest income and credit commissions of NOK 326 million against NOK 355 million a year ago. Net operating income was NOK 458 million against NOK 546 million a year ago. Profit before write-downs and tax was NOK 156 million against NOK 236 million a year ago. Pre-tax profit was NOK 134 million against NOK 187 million a year ago. Profit for the period was NOK 93 million against NOK 140 million a year ago. Diluted profit per equity certificate was NOK 0.63 against NOK 1.00 a year ago. For the first quarter, the company's write-downs on loans and losses on guarantees amounted to NOK 22 million against NOK 50 million a year ago.

Sparebanken Vest, Q1 2013 Earnings Call, Apr 23, 2013