Sparebank 1 Smn Prim Cap (SRMGF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to this presentation of the financial results for Sparerbank 1 SMN for the first quarter of 2025. My name is Trond Søroes and I'm the CFO here at Sparerbank 1 SMN. My presentation will be followed by several posts from other members of the management group who will elaborate and speak more about the strategic initiatives within their areas. Those posts will be spoken in Norwegian, but come with an English subtitle. With a result that once again exceeds 1 billion, Spirebank NSMN has completed yet another strong financial quarter. The result for the first quarter was 1 billion and 4 million, which corresponds to a return on equity of 14%. The result is characterized by a strong net interest income, good contribution from ownership interest, both from subsidiaries and associated companies, lower cost than the previous quarter, and low loan losses. In summary, this contributes to a strong 14% return on equity, and with equity that ensures that the group also exits this quarter with a strong CET1 of 18.1%. Looking at the overall loan growth for the bank, it was 5.3% over the last 12 months. It was, however, somewhat reduced in this quarter, where the overall growth was 0.2%, mainly due to a reduced volume in the corporate loan book, where we have experienced the repayment of some larger loans. At the same time, the quarter is characterized by a very good deposit development, contributing to a total 12-month growth within the deposit of 11.6%. Our subsidiaries have also had a strong quarter. The first quarter is seasonally strong for Sparerbanket and Regnskapshuset, our accountancy firm. This quarter was no exception, with the company achieving a result margin of 21.3%, mainly driven by a strong top-line growth. Eendomsmark.dn, our real estate broker, has had a sol...