Romerike Sparebank Third Quarter 2023 Earnings: Revenues Beat Expectations

Romerike Sparebank (OB:ROMER) Third Quarter 2023 Results

Key Financial Results

• Revenue: kr102.3m (up 60% from 3Q 2022).
• Net income: kr39.2m (up by kr35.3m from 3Q 2022).
• Profit margin: 38% (up from 6.2% in 3Q 2022). The increase in margin was driven by higher revenue.

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

Romerike Sparebank Revenues Beat Expectations

Revenue exceeded analyst estimates by 2.6%.

Looking ahead, revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Banks industry in Norway.

Performance of the Norwegian Banks industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Before we wrap up, we've discovered 3 warning signs for Romerike Sparebank that you should be aware of.

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