GlobeNewswire by notified

SpareBank 1 SMN: Continued good growth and a strong profit performance

Share

SpareBank 1 SMN delivers a solid third-quarter profit of NOK 849m before tax compared with NOK 619m in the same period last year. This performance is a clear reflection of the fact that society is in the process of normalising after a long period of coping with the economic consequences of the Covid pandemic.

Once the Covid restrictions were removed in September, Norwegian society opened up in earnest. Employment is now back to the level in effect before the pandemic struck, and all economic parameters are improving.

“After a year and a half of substantial uncertainty, people can now lower their shoulders and move towards normality. Improved economic prospects and increased optimism in society provide a sound basis for strong performances across all SpareBank 1 SMN’s lines of business,” says Group CEO Jan-Frode Janson.

Growth in all the major business lines, lower losses, efficient operations and good cost control provide a return on equity of 12.4 per cent for the period. Loan losses are substantially reduced – to NOK 31m compared with NOK 231m in the same period last year.

Lending to personal customers has risen by NOK 8.3bn in the last 12 months, and now accounts for 68 per cent of the bank’s total outstanding loans. Lending to corporate customers has risen by NOK 4.3bn in the same peiod. A substantial portion of the growth in the personal market is down to LO (Confederation of Trade Unions) customers, while the growth in lending to corporates refers mainly to small and medium-sized customers across the entire market area.

EiendomsMegler 1 Midt-Norge recorded operating revenues of NOK 108m in the third quarter, and delivers a profit of NOK 9m before tax. SpareBank 1 Regnskapshuset SMN posted operating revenues of NOK 122m, and a profit of NOK 21m before tax. SpareBank 1 Finans Midt-Norge reports a profit of NOK 35m before tax, based on operating revenues of NOK 93m.

“Our goal throughout has been to build a complete finance centre. This brings a simpler and more effective customer offering, it makes us a more attractive employer and provides a broader revenue base,” says Group CEO Jan-Frode Janson.

The remainder of the dividend of NOK 3.10 per equity certificate declared for 2020 is to be paid on 9 November. A further NOK 105m is allocated to community dividend. Overall community dividend amounts to NOK 200m, of which NOK 100m is earmarked for the reopening of Mid-Norway.

“A large share of the funds goes to grand reopening festivities throughout Mid-Norway. In Trondheim we, alongside a number of other actors in the community, have completed a three-week-long reopening festival comprising some 300 events large and small. In addition, more than 1500 clubs and organisations have received support enabling them to restart recruitment and activities once again,” says Mr Janson.

Key figures, third quarter 2021
(Consolidated figures. Figures in parenthesis refer to the same period of 2020 unless otherwise stated)
• Pre-tax profit: NOK 849m (619m)
• Post-tax profit: NOK 675m (519m)
• Return on equity: 12.4% (10.5%)
• CET1 ratio: 18.1% (17.6%)
• Growth in lending: 1.6% (2.5%)
• Growth in deposits: -0.4% (+1.2%)
• Lending to personal customers: 2.0% (2.2%)
• Lending to corporate clients: 0.7% (3.0%)
• Net result of ownership interests: NOK 179m (170m)
• Net result of financial instruments: NOK 69m (34m)
• Losses on loans and guarantees: NOK 31m (231m)
• Earnings per equity certificate: NOK 3.22 (2.35)
• Book value per equity certificate: NOK 103.57 (92.73)

Contacts:
CFO Kjell Fordal on +47 905 41 672
Executive Vice President Rolf Jarle Brøske on +47 911 12 475

quarterlyreport.smn.no

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Attachments

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Saniona Chairman J. Donald deBethizy and CEO Rami Levin, as well as additional members of the board and management, purchase Saniona shares in the open market2.12.2021 22:45:00 CET | Press release

PRESS RELEASE December2, 2021 Saniona (OMX: SANION), a clinical stage biopharmaceutical company focused on rare diseases, today announcedthat the Chairman and the CEO, as well as additional members of the Board of Directors and executive management team, have purchased 82,000 shares of the company in the open market for a total value of approximately SEK 861,182. Saniona Chairman of the Board J. Donald deBethizy bought 20,000 shares in the company for a total investment of SEK 228,548. President and CEO Rami Levin bought 10,000 shares in the company for a total investment of SEK 100,045. In addition, a total of 52,000 shares were acquired by the other members of Saniona's Board of Directors and executive management team. All transactions have been made in the open market through broker-assisted trades during the period from 19 November 2021 to 2 December 2021. For more information, please contact Trista Morrison, Chief Communications Officer, Saniona. Office: + 1 (781) 810-9227. Email:

Sanionas styrelseordförande J. Donald deBethizy, VD Rami Levin och andra styrelseledamöter och ledande befattningshavare förvärvar aktier i ordinarie börshandel2.12.2021 22:45:00 CET | Pressemelding

PRESSMEDDELANDE 2 december 2021 Saniona (OMX: SANION), ett biofarmaceutiskt företag med klinisk utveckling fokuserad på sällsynta sjukdomar, meddelar idag att styrelsens ordförande, VD och andra ledamöter i styrelsen och ledningsgruppen har förvärvat 82 000 aktier i bolaget i ordinarie börshandel för totalt 861182 SEK. Sanionas styrelseordförande J. Donald deBethizy har köpt 20 000 aktier i bolaget, en investering om totalt 228 548 SEK. Koncernchef och VD Rami Levin har köpt 10 000 aktier i bolaget, en investering om totalt 100 045 SEK. Utöver det har sammanlagt 52 000 ytterligare aktier förvärvats av övriga medlemmar i styrelsen och ledningsgruppen. Alla transaktioner har gjorts i ordinarie börshandel genom etablerade aktiemäklare under perioden 19 november 2021 till 2 december 2021. För ytterligare information, vänligen kontakta Trista Morrison, Chief Communications Officer, Saniona. Kontor: + 1 (781) 810-9227. E-post: trista.morrison@saniona.com Informationen lämnades, genom ovanstå

PubMatic Executive Peter Barry Promoted to Global Role of VP Addressability2.12.2021 22:00:00 CET | Press release

Barry to relocate to New York to lead PubMatic’s audience data business NO-HEADQUARTERS/REDWOOD CITY, Calif., Dec. 02, 2021 (GLOBE NEWSWIRE) -- PubMatic (Nasdaq: PUBM), a sell-side platform that delivers superior outcomes for digital advertising, today announced it has appointed Regional Director, Australia and New Zealand & Head of Audience, APAC, Peter Barry to a global role, naming him VP of Addressability. Barry, who joined the company in 2016, will relocate from Sydney to New York for the new role. He will provide overall leadership across multiple cross functional teams and lead efforts with publishers to ensure they monetise their inventory and drive better outcomes for advertisers and data partners. Barry has been responsible for rolling out the company’s Addressability Suite across APAC, and working with leading data and identity partners in the region. PubMatic’s Addressability Suite includes Audience Encore, which enables data companies, publishers, and advertisers to buy an

PubMatic Executive Peter Barry Promoted to Global Role of VP Addressability2.12.2021 22:00:00 CET | Press release

Barry to relocate to New York to lead PubMatic’s audience data business NO-HEADQUARTERS/REDWOOD CITY, Calif., Dec. 02, 2021 (GLOBE NEWSWIRE) -- PubMatic (Nasdaq: PUBM), a sell-side platform that delivers superior outcomes for digital advertising, today announced it has appointed Regional Director, Australia and New Zealand, Peter Barry to a global role, naming him VP of Addressability. Barry, who joined the company in 2016, will relocate from Sydney to New York for the new role. He will provide overall leadership across multiple cross functional teams and lead efforts with publishers to ensure they monetise their inventory and drive better outcomes for advertisers. Barry has been responsible for rolling out the company’s Addressability Suite across APAC, and working with leading data and identity partners in the region. PubMatic’s Addressability Suite includes Audience Encore, which enables data companies, publishers, and advertisers to buy and sell first-party data and utilize it to c

Bombardier Marks Dual Celebration – NetJets Accepts First Global 7500 Business Jet as Bombardier Delivers 1,000th Global Aircraft2.12.2021 20:05:00 CET | Press release

Delivery of industry’s longest-range business jet marks the first of 20 Global 7500 aircraft to join the NetJets fleet Global 7500 aircraft continues to garner significant interest from customers who value features such as the largest and most unique cabin, innovative technology, unparalleled performance and the smoothest ride MONTRÉAL, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Bombardier announced today the delivery of the 1,000th Global aircraft. The major milestone was reached as the NetJets team led by Patrick Gallagher, President, Sales, Marketing and Services, took delivery of the private aviation company’s first Global 7500 business jet. The addition of a Global 7500 aircraft to the NetJets fleet redefines its large-cabin, long-range offering, and elevates the choice of travel options for its international Owners. With a 7,700 nm (14,260 km) range, NetJets Owners will be able to fly from New York to Beijing or San Francisco to Sydney without refueling stops. The Global 7500 aircraft is

Ultimovacs Granted Orphan Drug Designation by FDA for UV1 Cancer Vaccine in Metastatic Melanoma2.12.2021 19:00:00 CET | Press release

Designation covers UV1 in Metastatic Melanoma as sole agent or part of combination Seven-year market exclusivity after regulatory approval, if received Oslo, 2December2021: Ultimovacs ASA ("Ultimovacs") (OSE ULTI), a clinical stage leader in immune stimulatory vaccines for cancer, today announces that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation (ODD) for the company’s universal cancer vaccine UV1 for the treatment of stage IIB – IV melanoma. UV1, as add-on therapy to checkpoint inhibitors ipilimumab and nivolumab, is currently being studied as first-line treatment for metastatic melanoma in a Phase II trial named INITIUM. The FDA Office of Orphan Products Development (OOPD) supports and advances the development and evaluation of new treatments for rare diseases that affect fewer than 200,000 people in the U.S. Orphan drug designation provides certain benefits, including seven-year market exclusivity upon regulatory approval if received, exemption fro

Mandalay Resources Corporation säljer Cerro Bayo-gruvan till Equus Mining2.12.2021 18:49:34 CET | Pressemelding

TORONTO, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation (”Mandalay” eller ”bolaget”) (TSX: MND, OTCQB: MNDJF) har nöjet att meddela att man har slutfört den tidigare aviserade försäljningen av Cerro Bayo-gruvan i Region XI i södra Chile (se Mandalays pressmeddelanden från den 12 oktober 2021 och den 8 oktober 2019). I enlighet med transaktionen förvärvade Equus Mining Limited (”Equus”) Cerro Bayo-gruvan, inklusive dess gruvanläggningar, -tillgångar och -infrastruktur samt en bearbetningsanläggning på 1 500 ton per dag, i utbyte mot 587 502 438 stamaktier i Equus. Mandalay får också en nettoprovision på smältning på 2,25 % på produktionen från Cerro Bayo-gruvan när gruvan har producerat minst 50 000 uns guldekvivalent, som omfattas av en återköpsoption till förmån för Equus. Bolaget förblir ansvarigt för 50 % av de godkända kostnaderna för stängningen av anläggningen vid Cerro Bayo. Dessutom kommer Equus att utse Ryan Austerberry, Mandalays General Manager för Costerfi