Brief: Morrow Bank Q3 Profit Before Tax Rises To NOK 72 Mln

Morrow Bank ASA

31/10/2024 06:07

Oct 31 (Reuters) - Morrow Bank ASA  MOBAM.OL :
    * Q3 PROFIT BEFORE TAX OF NOK 72 MILLION, UP 7% FROM
PREVIOUS
QUARTER AND 50% YEAR-ON-YEAR
    * LOAN LOSS RATIO DECLINED FOR Q3 IN A ROW TO 4.8% (5.1%)
    * Q3 RETURN ON EQUITY OF 9.0% (8.5%)
    * MEDIUM-TERM TARGETS EXTENDED TO YEAR-END 2026 (VERSUS
YEAR-END
2025)
    * BANK IS NOW TARGETING ANNUALISED ORGANIC LOAN GROWTH OF 5%
(10%), COST/INCOME RATIO OF 23% (26%) AND RETURN ON TARGET
EQUITY OF 12-14% (10-12%)
    * NET INTEREST INCOME AMOUNTED TO NOK 301.9 MILLION IN Q3
2024, UP
5.0% COMPARED TO Q2 2024
    * NET COMMISSIONS AND FEES AMOUNTED TO NOK 0.0 MILLION IN
Q3, DOWN
FROM NOK 7.2 MILLION IN  THE PREVIOUS QUARTER

Source text:  ID:nObiWbDJXa 
Further company coverage:  MOBAM.OL 

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