The profit in Norwegian banks are reduced compared to last year. After-tax profit amounted to NOK 7.6 billion compared to NOK 7.9 billion at the same period last year. This is a decrease of 3.87 percent or 0.3 billion.
Return on equity is reduced from 10.25 percent to 8.38 percent. The decrease in return on equity is due to reduced results combined with a significant increase in the banks’ equity ratio compared to first quarter of 2015.
Losses are still low. However the losses have increased by NOK 0.3 billion and make up 0.28 percent of average gross loans compared to 0.24 percent in the first quarter of 2015.