MyBank ASA reported a 0.1% ROE in Q4 2022 and an underlying ROE of 8.2% in the quarter. The net profit was MNOK 0.1 (MNOK 10.9 in Q4 2021) and the underlying net profit was MNOK 5.0 (MNOK 11.5 in Q4 2021). Net interest income for the quarter was MNOK 21.7, a decrease of 17.8% from MNOK 26.4 in Q4 2021. The bank reported a capital ratio of 23.5%, a decrease from 25.2% in Q4 2021, mainly due to increased loan loss provisions and non-recurring items.

MyBank ASA received the final report from the Norwegian Financial Supervisory Authority in January. The bank has executed major improvements in its management and control processes. The bank is in process of raising capital and expects to be in line with the NFSAs additional temporary capital requirement of MNOK 30 at the end of first quarter 2023.