Last 50.00 NOK
Change Today -0.50 / -0.99%
Volume 8.7K
SVEG On Other Exchanges
As of 8:57 AM 08/28/14 All times are local (Market data is delayed by at least 15 minutes).

sparebanken vest (SVEG) Snapshot

50.25 NOK
Previous Close
50.50 NOK
Day High
50.50 NOK
Day Low
50.00 NOK
52 Week High
03/11/14 - 52.50 NOK
52 Week Low
09/9/13 - 40.50 NOK
Market Cap
Average Volume 10 Days
25.21 NOK
Shares Outstanding
3.00 NOK
Dividend Yield
Current Stock Chart for SPAREBANKEN VEST (SVEG)

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sparebanken vest (SVEG) Details

Sparebanken Vest, a financial services company, provides banking and financing services to private and corporate sectors primarily in Hordaland, Rogaland, and Sogn og Fjordane. It operates through the Corporate Market, Retail Market, Treasury, and Estate Agency business segments. The company has 53 sales outlets. It is also involved in estate agency, property management, and home mortgage businesses. The company was founded in 1823 and is headquartered in Bergen, Norway.

808 Employees
Last Reported Date: 08/21/14
Founded in 1823

sparebanken vest (SVEG) Top Compensated Officers

Managing Director and Chairman of Validation ...
Total Annual Compensation: 2.7M NOK
Legal Director and Member of Validation Commi...
Total Annual Compensation: 1.8M NOK
Director of Human Resources
Total Annual Compensation: 1.5M NOK
Director of Business Support and Development
Total Annual Compensation: 1.6M NOK
Director of Retail Market and Member of Valid...
Total Annual Compensation: 1.9M NOK
Compensation as of Fiscal Year 2013.

sparebanken vest (SVEG) Key Developments

Sparebanken Vest, Q2 2014 Earnings Call, Aug 21, 2014

Sparebanken Vest, Q2 2014 Earnings Call, Aug 21, 2014

Sparebanken Vest Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Sparebanken Vest reported earnings results for the second quarter and six months ended June 30, 2014. Sparebanken Vest achieved a pre-tax profit of NOK 433 million against NOK 332 million in the second quarter 2013, and a return on equity of 16.8 % against 12.7 % in 2013. The results were positively affected by good net interest income, low cost growth and the sale of six of the bank's properties. Net interest income in the second quarter amounted to NOK 575 million against NOK 549 million in 2013. The increase of NOK 26 million is mainly the result of previous re-pricing of lending portfolios for both the retail and corporate markets, and growth in lending volumes compared with the corresponding period in 2013. Net operating income was NOK 778 million against NOK 737 million a year ago. Profit for the period was NOK 360 million or NOK 2.32 diluted per share against NOK 241 million or NOK 1.62 diluted per share a year ago. Sparebanken Vest achieved a pre-tax profit of NOK 959 million in the first half of 2014 against NOK 605 million, an increase of NOK 354 million compared with the first half of 2013. The return on equity increased to 18.3 %, compared with 11.6 % in the corresponding period last year. The profit growth can primarily be attributed to higher interest income, good cost management, the sale of the bank's shareholding in Nets Holding AS and the sale of six of the bank's properties. Net interest income was increased by NOK 133 million in the period. Net operating income was NOK 1,715 million against NOK 1,386 million a year ago. Profit for the period was NOK 772 million or NOK 4.98 diluted per share against NOK 437 million or NOK 2.95 diluted per share a year ago. Net cash flow from operations was NOK 1,163 million against NOK 838 million a year ago. Payments made on purchases of operating assets etc. was NOK 140 million against NOK 88 million a year ago.

EVRY and Sparebanken Vest Enters into a Strategic Agreement for a 5-Year Period

EVRY and Sparebanken Vest have entered into a strategic agreement for a 5-year period. The agreement is intended to meet the challenge of dynamic market, characterised by banking customers who want new and innovative services that are simple, quick, and easy to use. The agreement represents total contract value of NOK 800 million. EVRY will provide next generation core banking and payment solutions to Sparebanken Vest. In addition, EVRY will work as a partner with Sparebanken Vest on its program to renew and strengthen further its focus on digital banking services.


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