AURSKOG SPAREBANK (AURG) Q1 2025 earnings summary

Executive summary

• Net income after tax reached NOK 52.6 million for Q1 2025, slightly up from NOK 52.4 million year-over-year.

• Forretningskapital surpassed NOK 23 billion for the first time, with 14.3% growth over 12 months.

• Driftsinntekter increased by 4% and driftskostnader rose by 13% year-over-year, mainly due to investments in new offices and staff.

• Official opening of a new branch in Lillestrøm in March 2025.

Financial highlights

• Net interest income was NOK 88.2 million, down from NOK 93.5 million year-over-year.

• EPS was NOK 4.12, unchanged from Q1 2024.

• Cost/income ratio for the last 12 months was 33.7%, up from 31.6% (adjusted for one-time IT costs last year).

• Customer deposits grew 9.6% year-over-year; loan growth including EBK was 12.9%.

• Liquidity Coverage Ratio (LCR) at 221% and Net Stable Funding Ratio (NSFR) at 140%.

Outlook and guidance

• High activity expected in both the bank and customer base, with recent investments in new branches and staff to strengthen long-term income.

• Anticipates increased competition and potential margin pressure if market rates fall.

• Expects improved capital margins from new capital requirement calculation method starting April 2025.