Breaking News: SpareBank 1 Northern Norway reported a record NOK 2,78 billion in pre-tax profits for the frist half of 2025, a significant increase of NOK 289 million compared to the same period in 2024.
SpareBank 1 Northern Norway has announced a strong financial performance for the first half of 2025, with profits before tax reaching NOK 2,78 billion. This represents a important increase of NOK 289 million compared to the NOK 2.491 billion reported for the first half of 2024.
The positive results are attributed to robust performance across the bank’s core business operations, as well as contributions from its subsidiary and associated companies. Underlying costs have decreased by NOK 7 million from the previous quarter, excluding one-off expenses.
CEO Hanne Karoline Kræmer highlighted the region’s economic strength as a key driver of the bank’s success.”The picture is the same as we have seen for quite a long time now. It goes well in Northern Norway. Our business community delivers, there is virtually no unemployment and we have very limited lending losses. When our underlying operations are at the same time,our result will reflect the region,” Kræmer stated in a press release.
Solid Financial Performance
The bank demonstrated solid cost control and improved equity returns. Kræmer expressed her satisfaction with the results, especially the growth in retail lending.
Annualized lending growth in the retail market reached 9.3 percent during the quarter, while overall lending growth was 6.9 percent. Total deposit growth reached 25 percent, indicating increased customer confidence and market share gains.
“The group is competitive, grows and takes market shares in all areas, something a total deposit growth of 25 per cent also documents,” Kræmer added.
Key Financial Figures – June 30, 2025
(Comparable figures for June 30, 2024, are provided in parentheses)
- Profit before tax: NOK 2,78 billion (NOK 2.491 billion)
- Equity Return: 18.9% (18.2%)
- Cost-to-income ratio: 31.7% (32.5%)
- Loan losses: NOK 27 million (NOK 51 million)
- Common Equity Tier 1 (CET1) capital ratio: 16.2% (16.4%)
