Brief: Sparebanken Q3 Pre-Tax Profit Down At NOK 551 Million

Sparebanken Norge

28/10/2020 15:44

Oct 28 (Reuters) - Sparebanken Vest  SVEG.OL :
    * GROWTH, REDUCED COSTS AND MODERATE LOSSES IN THE THIRD
QUARTER
    * Q3 PRE-TAX PROFIT NOK 551 MILLION VERSUS NOK 643 MILLION
YEAR
AGO
    * Q3 NET INTEREST INCOME NOK 750 MILLION VERSUS NOK 808
MILLION
YEAR AGO
    * Q3 LOAN LOSSES NOK 76 MILLION VERSUS NOK 12 MILLION YEAR
AGO
    * EXPECT A FLAT COST DEVELOPMENT FOR 2020, AND WE HAVE
TARGETED
FLAT COST DEVELOPMENT ALSO IN 2021
    * EXPECTS A RETURN ON EQUITY FOR 2020 OF AROUND 11.5 –
12.0%,
INCLUDING ONE-OFFS

Source text for Eikon:  ID:nObi66FHVa 
Further company coverage:  SVEG.OL 

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