Helgeland Sparebank announce Q1 2020 financial results

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Helgeland Sparebank (HELG:OSLO) today presented the interim financial report for Q1 2020, and maintains good basic operations. The interim result is nevertheless characterized by the effects of the covid-19 situation through increased model-based write-downs on loans and changes in value of financial investments, as well as one-off costs related to the transfer of business from SNN.

Key figures for the first quarter
(Comparative figures for the corresponding period last year)
• Profit before tax amounted to NOK 40.0 (93) million.
• Lending losses of NOK -23 (-5) million
• Losses from financial instruments of NOK -35 (4) million.
• 12 months lending growth -1.61 (5.7)%
• 12 months deposit growth 4.5 (2.6)%
• Return on equity after tax (adjusted for hybrid capital) 2.8% (9.6)

Other key figures
(Comparative figures for the corresponding period last year)
• Net interest rate 1.91 (1.74)%
• Costs as a percentage of management 1.03 (0.89)%.
• Write-downs on loans as a percentage of gross loans 0.33 (0.10)%
• Profit per EC certificate amounts to NOK 0.7 (2.5)
• Pure Tier 1 capital ratio 17.16 (15.1)%
• Total capital adequacy 21.43 (19.1)%

Key information in cash dividends for Helgeland Sparebank
Dividend amount: 2.70
Advertised currency: NOK
Last day including: May 4, 2020
Ex-date: May 5, 2020
Record date: May 7, 2020
Payment Date: May 15, 2020
Date of adoption: 4 May 2020