Brief: Sparebank 1 BV Q2 Net Interest Income Up At NOK 151.7 Million

Sparebank 1 Sorost-Norge

13/08/2019 06:42

Aug 13 (Reuters) - Sparebank 1 BV  SBVGV.OL :
    * GOOD RESULT AND GROWTH IN RETAIL MARKET
    * CORE BUSINESS IS STILL CHARACTERISED BY MARGIN PRESSURE
DUE TO
STRONG COMPETITION AND INCREASED MONEY MARKET RATES
    * Q2 NET INTEREST INCOME NOK 151.7 MILLION VERSUS NOK 146.1
MILLION YEAR AGO
    * CHANGE IN INTEREST RATES  WILL HAVE A POSITIVE EFFECT ON
INTEREST MARGINS IN Q3 OF 2019.
    * A CHANGE IN INTEREST RATES HAS BEEN DECIDED FROM BEGINNING
OF
AUGUST, WHICH WILL HAVE A POSITIVE EFFECT ON INTEREST MARGINS IN
Q3 OF 2019
    * EXPECTS GOOD PROFITS IN 2019 AND MAINTAINS ITS LONG-TERM
GOAL OF
A MINIMUM 10% RETURN ON EQUITY
    * Q2 REVERSAL OF LOAN LOSSES NOK 2.1 MILLION VERSUS LOAN
LOSSES
NOK 11.3 MILLION YEAR AGO
    * EXPECTS GOOD PROFITS IN 2019 AND MAINTAINS ITS LONG-TERM
GOAL OF
A MINIMUM 10% RETURN ON EQUITY
    * Q2 PRE-TAX PROFIT NOK 168.2 MILLION VERSUS NOK 271.2
MILLION
YEAR AGO

Source text for Eikon:  ID:nObigJmqBa 
Further company coverage:  SBVGV.OL 

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