First quarter 2012 – strong lending and deposit growth
At the end of the first quarter, Sparebanken Sør Group’s pre-tax profit was MNOK 39, compared with MNOK 78 the previous year.
The main reason for this decline has been due to valuation of financial instruments, which gave a negative effect of MNOK 35, compared with a modest positive contribution in the same period last year. Read the first quarter report of 2012 here.