The latest update is out from SpareBank 1 Nord-Norge ( (SPXXF) ).
SpareBank 1 Nord-Norge received a correction order from the Financial Supervisory Authority regarding its accounting practices for unpaid donations, which were previously recorded as other liabilities. The authority’s decision implies that these funds should be included in the donation fund, affecting the bank’s equity capital and ownership ratio calculations for 2022 and 2023. The bank plans to appeal the decision, which could impact its dividend distribution and financial reporting.
More about SpareBank 1 Nord-Norge
SpareBank 1 Nord-Norge operates in the financial services industry, providing banking services primarily in the northern regions of Norway. The bank focuses on offering a range of financial products including loans, savings, and investment services to individuals and businesses.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $1.18B
Learn more about SPXXF stock on TipRanks’ Stock Analysis page.