SpareBank 1 Nord-Norge

Latest Results (07.03.2026):

This is a concise summary of SpareBank 1 Nord-Norge’s Q4 2024 (full‑year 2024) financial results. The group delivered a strong 2024: profit before tax MNOK 4,513 and net profit attributable to majority interests MNOK 3,631, with a return on equity of 21.8%. Results were supported by higher net interest income and a sizable positive contribution from financial investments (including one‑offs reported by the Group). Capital, liquidity and cost metrics remained solid heading into 2025.

Profit & profitability

Profit before tax: MNOK 4,513; net profit (majority): MNOK 3,631. Return on equity was 21.8% for 2024, well above the Group’s target and peer benchmarks.

Net interest & investment income

Net interest income rose to MNOK 4,028. Net income from financial investments was MNOK 1,057 for the year — boosted by one‑off items disclosed in the report (notably a MNOK ~452 effect related to SpareBank 1 Gruppen and a preliminary MNOK ~176 effect from the pension fund liquidation).

Volumes — loans and deposits

Gross loans including intermediary loans grew ~5.0% to MNOK 152,981. Customer deposits grew ~6.2% to MNOK 87,618. Deposit‑to‑loan (excl. intermediary loans) remained strong, around the mid‑80s percent.

Asset quality and loan losses

Loan losses were low at MNOK 110 (≈0.07% of gross lending incl. intermediary loans). Stage 3 provisions stood at MNOK 379 with a reported coverage rate of about 33% for stage‑3 exposures. Management notes no broad migration to higher risk but monitored selected individual exposures.

Costs and efficiency

Operating costs were MNOK 2,003 and the Group cost/income ratio improved to 30.2% (well below the 40% long‑term target), reflecting higher income and ongoing efficiency efforts.

Capital and leverage

Common Equity Tier 1 (CET1) ratio was 16.8% at year‑end 2024 (Group target ~one percentage point above the regulatory minimum). Total capital ratio 21.3%; leverage ratio 7.8%. Management highlights upcoming regulatory changes (CRR3 and mortgage risk‑weight floor) that will affect capital requirements going forward.

Liquidity

Liquidity metrics are strong: LCR reported at ~147% and NSFR at ~117% at 31.12.2024, reflecting ample high‑quality liquid assets and robust deposit funding.

Capital distribution

The Board proposed a cash dividend of NOK 8.75 per equity certificate (equivalent to a Group payout ratio ~53.7%), plus community dividends allocated in accordance with the bank’s distribution policy described in the annual report.

Outlook & risks

The report notes a more challenging 2025 macro backdrop: anticipated policy‑rate cuts may help the economy later but will likely compress net interest margins in the near term. Regulatory changes (CRR3, IRRBB, mortgage risk‑weight floor) and continued competition in mortgages were called out as key near‑term considerations.