SpareBank 1 Nord-Norge reports a pre-tax profit of 1 889 million Norwegian
kroner for the first half of 2024. This is 248 million kroner higher than the
same period in 2023. The cost/income ratio is one percentage point lower than
last year, while the return on equity per Q2 is 18.2 percent.  

- These are strong figures, and people in Northern Norway continue to choose
SpareBank 1 Nord-Norge as their financial partner. We see growth in both the
corporate and retail segments. Northern Norway has adapted to higher interest
rates and persistent high inflation. This has resulted in slightly lower growth
for corporates, but fortunately, there are few bankruptcies. There is still work
for everyone, and the weak Norwegian krone continues to boost revenues for both
export industries and tourism. Overall, this creates a relatively economic
stability in the region and has a positive impact on our results, says CEO Hanne
Karoline Kraemer.  

Kraemer emphasizes that the result is particularly strong considering that
contributions from affiliated companies have been lower than normal.  

- Our relative ownership stake in the SpareBank 1-alliansen is significant. When
our jointly owned companies perform below normal, it affects our results
negatively. However, the fact that we are still delivering well indicates that
our core business is very strong. The upside is substantial, given that we own
nearly 20 percent of the SpareBank 1-alliansen. I expect significantly larger
contributions from this ownership in the future, says Kræmer. 

Key Figures: 
o Pre-tax result: 1 889 MNOK (1 641 MNOK) 
o Return on equity: 18.2% (16.9%) 
o C/I-ratio: 33.5% (34.5%) 
o Losses: 51 MNOK (-27 MNOK) 
o CET1: 17,3% (17.5%) 
(Comparable to 2023 figures in brackets)

 
Contact Persons at SpareBank 1 Nord-Norge: 
o CEO Hanne Karoline Kraemer, phone: +47 414 70 483
o CFO Bengt Olsen, phone: +47 975 89 560
o CCO Stein Vidar Loftaas, phone: +47 951 26 5761 

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act. This stock exchange announcement was
published by Morten Tønder Albertsen, Head of Communications at SpareBank 1
Nord-Norge, on August 8, 2024 at 07:30 CET.