SpareBank 1 BV (SBVG) published its Q1 numbers this afternoon and the result was on the weak side with a ROE of 7.6% in the quarter. A weak Fremtind/SB1 and higher loan loss provisions a prudent management action in our view. However, the growth in opex is a worry and we hope to see results from the efficiency program in Q2. Despite the bank being very solid, we expect a moderate dividend for 2020 (30% pay-out), equivalent to a NOK 1.0 DPS, yielding 2.9%.
14 May 2020
Prudent increase in loan loss provisions
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Prudent increase in loan loss provisions
SpareBank 1 Sorost-Norge (0NY7:LON) | 0 0 0.0%
- Published:
14 May 2020 -
Author:
Joakim Svingen -
Pages:
14
SpareBank 1 BV (SBVG) published its Q1 numbers this afternoon and the result was on the weak side with a ROE of 7.6% in the quarter. A weak Fremtind/SB1 and higher loan loss provisions a prudent management action in our view. However, the growth in opex is a worry and we hope to see results from the efficiency program in Q2. Despite the bank being very solid, we expect a moderate dividend for 2020 (30% pay-out), equivalent to a NOK 1.0 DPS, yielding 2.9%.