SpareBank 1 Nord-Norge Third Quarter 2024 Earnings: Revenues In Line With Expectations

SpareBank 1 Nord-Norge (OB:NONG) Third Quarter 2024 Results

Key Financial Results

• Revenue: kr2.03b (up 74% from 3Q 2023).
• Net income: kr1.34b (up 483% from 3Q 2023).
• Profit margin: 66% (up from 20% in 3Q 2023). The increase in margin was primarily driven by higher revenue.

All figures shown in the chart above are for the trailing 12 month (TTM) period

SpareBank 1 Nord-Norge Meets Expectations

Revenue was in line with analyst estimates.

Looking ahead, revenue is forecast to decline by 3.5% p.a. on average during the next 3 years, while revenues in the Banks industry in Norway are expected to remain flat.

Performance of the Norwegian Banks industry.

The company's shares are down 1.9% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 1 warning sign for SpareBank 1 Nord-Norge you should know about.

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