SPAREBANK 1 NORDMØRE (SNOR) Q4 2025 earnings summary

Executive summary

• Pre-tax profit for 2025 reached 626 million NOK, the best result in the bank's history, up from 598 million NOK in 2024.

• Return on equity for 2025 was 11.9% for the group (12.7% in 2024), with the parent bank at 10.5% (11.3%).

• The bank maintained a strong regional presence, serving over 60,000 customers, with increased lending and deposit growth.

• Experienced extraordinary cost items during the year but reported much lower loan losses and stable credit quality.

• Continued high demand for products and services, with strong customer satisfaction.

Financial highlights

• Net interest income for 2025 totaled 709 million NOK, up from 701 million NOK in 2024.

• Net commission and other income reached 280 million NOK, and net return on financial investments was 120 million NOK.

• Total income was 1,108 million NOK, with operating expenses at 455 million NOK, mainly due to wage and technology investments.

• Loan loss provisions dropped to 28 million NOK, with loan losses at 0.08% of gross loans.

• Lending growth over 12 months was 5.4%, and deposit growth was 7.2%.

Outlook and guidance

• Expects continued good growth but with lower margins and cost growth in 2026 compared to 2025.

• Only one interest rate cut is anticipated in 2026, with ongoing macroeconomic uncertainty.

• Regional optimism remains high, with low unemployment and stable business conditions, though macroeconomic and geopolitical uncertainty persists.