May 9, 2018 / 5:44 AM / 2 months ago

UPDATE 1-Sbanken Q1 net interest income up, sees growth rate above 10 pct

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May 9 (Reuters) - Sbanken ASA:

* NET PROFIT OF NOK 166.4 MILLION IN Q1 OF 2018, COMPARED WITH NOK 164.8 MILLION IN Q1 LAST YEAR

* Q1 NET INTEREST INCOME NOK 348.4 MILLION VERSUS NOK 299.0 MILLION YEAR AGO

* Q1 RETURN ON EQUITY WAS 12.5 PER CENT, COMPARED WITH 13.7 PER CENT IN Q1 OF 2017

* SBANKEN’S VOLUME GROWTH IS EXPECTED TO INCREASE IN LINE WITH THE BANK’S TARGET OF AN ANNUAL GROWTH RATE ABOVE 10 PER CENT

* THE BANK EXPECTS THE AVERAGE LOSS LEVEL TO BE BELOW 0.1 PER CENT FOR 2018

* NEW INITIATIVES WILL CONTRIBUTE TO INCREASING FUTURE CAPITAL-LIGHT REVENUES AND REACHING THE TARGET OF A COST-TO-INCOME RATIO BELOW 35 PER CENT Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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