Sparebank 1 Smn Prim Cap (SRMGF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and a warm welcome to Sparerbanken SMN's presentation of the fourth quarter and preliminary annual accounts for 2025. My name is Trond Søros, I'm the CFO here at Sparerbanken SMN and I will guide you through this presentation. Spiderbank and SMN ended the year on a strong note with a fourth quarter net profit of 1 billion and 61 million and a return on equity of 13.7%. So we now closed out four solid quarters in 2025 and with that a very strong year overall. The net profit for the full year came in at 4 billion 367 million, giving us a strong return on equity of 14.8% for the full year. Adjusted for nearly half a billion in gains from the Fremtin-EIKA merger in 2024, the results of 2025 are right on par with or even above last year's record performance. Strong underlying operations, synergies across the group, and solid contributions from associated companies have delivered impressive results for our owners. We've also come through a year characterized by strong competition in both of the bank's business areas. Balancing growth against acceptable margins is an ongoing focus area. Both retail banking and corporate banking ended the year with a solid growth in the fourth quarter. We are pleased to report balanced growth with an annual growth of 3.8% when it comes to lending and 3.7% when it comes to deposit growth for the group over the past year. We have of course the capacity and the solidity for higher growth, but our position is that we only accept profitable growth. Our subsidiaries also contribute strongly and remain among the most profitable in the industry. This year, Regnskapshuset SMN, the accountancy arm, which is key in driving synergies with corporate banking, increased profit before tax by more than 50% in 2025, grew revenues per employee and delive...