Sparebanken Møre Group
Presentation 3rd quarter 2021
Runar Sandanger | 26. October 2021 |
Acting EVP Finance |
Contents
- Introduction and highlights
- Outlook and Main Targets
- Results
- Deposits and Loans
- Liquidity and Capital
2
Q3 2021 - highlights
- The bank continues the positive development and delivers the second best Q3 result ever
- We are leaving behind an active quarter, both in the bank and in the surroundings
- Strengthened net interest income and low losses contribute to improved profitability and cost efficiency
- The bank is solid and has good liquidity
Balance growth
Lending growth was 6.2 per cent over the last 12 months. Growth in deposits was also 3.7 per cent
Efficiency
Cost/Income ratio at 40.9 per cent in the quarter
Strong liquidity and solidity
Deposit-to-loan ratio at 58.5 per cent, LCR at 147 and CET1 at
17.1 per cent. Leverage Ratio at 7.6 per cent
Net Interest Income
In NOK: | 320 million |
In per cent: | 1.58 |
Losses
NOK 2 million in losses on loans and guarantees in Q3
Return on
Equity
Return on Equity ended at
10.5 per cent for the third quarter of 2021
3
Results in Q3
- The bank continues the positive development and delivers its second best result for the third quarter ever
- Profit after tax ended at MNOK 176 in Q3 2021
- Return on Equity was 10.5 per cent in the quarter compared to 9.4 per cent in Q3 2020
Profit after tax | Return on Equity (ROE) |
- in per cent | |
- NOK million | |
176
170 | ||
153 | 147 | 143 |
10,410,5
9,4 9,1
8,5
Q3 20 | Q4 20 | Q1 21 | Q2 21 | Q3 21 | Q3 20 | Q4 20 | Q1 21 | Q2 21 | Q3 21 |
4
Dividend part 2 - fiscal year 2020
Allocation of results for 2020 (Parent bank)
- The bank's dividend policy implies a cash dividend for 2020 of NOK 13.50 per equity certificate. Based on the extraordinary situation and the authorities' expectations, the General Meeting in March approved a cash dividend of NOK 4.50 per equity certificate, and NOK 45 million in dividends to the local communities. In addition, the General Meeting issued a board authorization for further distribution of dividends
- At its meeting on 25 October, the Board used its authorization and decided to distribute an additional dividend of NOK 9.00 per equity certificate, as well as the distribution of dividend funds to the local communities of NOK 90 million
- The dividend payment was taken into account as of 31 December 2020 and will thus not affect the bank's CET1 capital now
Results for 2020
allocated to equity
owners
NOK 534 million
(Parent bank)
The primary fund's share of the profit:
NOK 269 mill.
(Represents 50.4% of
the equity)
EC owners' share of
the profit:
NOK 265 mill.
(Represents 49.6% of
the equity)
Part 2 - NOK 90 million in additional
dividends to the community
33.4% of the primary fund's profit share
Part 1 - NOK 45 million in dividends to the
community
16.6% of the primary fund's profit share
NOK 134 million to the primary fund
- strengthened the capital as of 31.12.2020
Part 2 - NOK 89 million in additional
dividends to the EC owners
33.4% of the EC owners' share of profit
NOK 9.00 per EC
Part 1 - NOK 44 million in cash dividends 16.6% of the EC owners' share of profit NOK 4.50 per EKB
NOK 132 million to the dividend equalization
fund
- strengthened the capital as of 31.12.2020
5
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Sparebanken Møre published this content on 26 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2021 05:15:05 UTC.