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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
TOTENS SPAREBANK
TOTENS SPAREBANK (TOTG) investor relations material
TOTENS SPAREBANK has been delisted
TOTENS SPAREBANK Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2024 earnings summary31 Oct, 2024
Executive summary
Net profit for Q3 2024 was NOK 68 million, slightly down from NOK 70.5 million in Q3 2023; YTD profit at NOK 229.6 million versus NOK 231.8 million last year.
Return on equity YTD 2024 was 11.4%, down from 12.5% in the same period last year.
The merger with SpareBank 1 Østlandet is approved and will be effective from November 1, 2024, making this the last standalone report for Totens Sparebank.
Financial highlights
Net interest income in Q3 2024 was NOK 142.1 million, up from NOK 134.2 million in Q3 2023; YTD net interest income reached NOK 410.1 million, up from NOK 384.7 million.
Net commission and other operating income in Q3 2024 was NOK 20.8 million, stable year-over-year; YTD at NOK 87.7 million, down from NOK 94.7 million.
Operating expenses in Q3 2024 were NOK 55.7 million, up from NOK 49.3 million in Q3 2023; YTD expenses at NOK 167.7 million, up from NOK 155.2 million.
Loan losses in Q3 2024 were NOK 17.1 million, up from NOK 12.7 million in Q3 2023; YTD loan losses at NOK 32.6 million.
Net loans to customers increased by NOK 999 million (5.3%) over the last 12 months; deposit growth was 8.3% year-over-year.
Outlook and guidance
Norges Bank's policy rate remains at 4.50%, with stable net interest margins expected in the near term.
Low credit growth and strong competition may pressure margins going forward.
From November 2024, all future reports will be for the merged SpareBank 1 Østlandet.
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Frequently asked questions
Totens Sparebank is a Norwegian savings bank established in 1854. The bank primarily serves the region of Innlandet in Norway and offers a range of banking services including mortgages, savings, and loans for private customers and small to medium-sized enterprises. Additional services include online and mobile banking, card issuing, payment services, and insurance products. Totens Sparebank is also a significant owner of Eika Gruppen, a collaboration of independent local banks in Norway. The company is headquartered in Lena, Norway, and its shares are listed on the Oslo Stock Exchange.