SpareBank 1 SMN (SRMGF) has released an update.
SpareBank 1 SMN reported strong net profit growth in the second quarter, with a post-tax profit of NOK 1.015bn and a return on equity of 15.4%. The bank attributes its success to solid net interest income, increased subsidiary earnings, and profitable ownership interests, while maintaining financial strength with a CET1 ratio of 18.5%. Additionally, the bank has engaged in a five-year partnership with the Norwegian University of Science and Technology to invest in artificial intelligence research and development.
For further insights into SRMGF stock, check out TipRanks’ Stock Analysis page.
