Sparebanken Vest (SPIZF) has released an update.
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Sparebanken Vest reported a robust financial performance for the second quarter of 2024, with a significant increase in profit before tax to NOK 1,412 million and a strong return on equity of 20.1%. The bank experienced solid growth in both lending and deposits, with a notable expansion in its mobile banking concept, Bulder. Coupled with efficient cost management leading to a historically low cost-to-income ratio, the bank’s capital position remains strong with a CET1 capital ratio well above regulatory requirements.
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