Aasen Sparebank (AASB) Q1 2025 earnings summary

Executive summary

• Result after tax reached NOK 17.4 million, up from NOK 16.5 million compared to the same quarter last year.

• Return on equity was 8.5% versus 8.9% in Q1 2024.

• Cost/income ratio increased to 48.9% from 46.0% year-over-year.

• Business volume grew to NOK 8.8 billion, up from NOK 8.4 billion year-over-year.

• 12-month loan growth including mortgage credit was 8.3%.

Financial highlights

• Net interest income was NOK 37.6 million, down from NOK 38.4 million year-over-year.

• Net commission income increased to NOK 6.0 million, up 3.4% from Q1 2024.

• Operating profit before losses and write-downs was NOK 23.1 million, down from NOK 24.7 million.

• Cost/income ratio (incl. securities) at 48.9%, up from 46.0%.

• Net loan losses were NOK 0.6 million, significantly down from NOK 3.3 million year-over-year.

Outlook and guidance

• Bank targets profitable growth in the region with focus on risk selection and sound management.

• High demand for services and continued strategic development across business areas.

• Norges Bank's policy rate remains at 4.5%, expected to stay elevated to curb inflation.

• Geopolitical uncertainty poses risks to economic outlook.