Lea Bank ASA

Lea bank ASA reports profit before tax of NOK 36.4 million

Lea bank reported a profit before tax of NOK 36.4 million for Q1 2023, up from

NOK 34.3 million in the same quarter last year. Gross loans increased by NOK 390

million in the quarter to NOK 6,677 million. Net interest income for the quarter

was NOK 131.5 million, an increase of NOK 17.4 million from Q1 2022. Loss on

loans were NOK 60.0 million compared to NOK 44.6 million in Q1 2022. Equity at

the end of the quarter was NOK 1,381.3 million.

The bank reports a profit for the 25th consecutive quarter that show consistency

over a long period, says CEO Oddbjørn Berentsen. The bank continues to focus on

solid banking operations, loan growth, and cost control going forward. In a time

of uncertainty, it is reassuring to show stability over time says Berentsen.

Highlights of Q1 2023:

· Profit before tax NOK 36.4 million (after tax of NOK 27.6 million)

· Net interest income of NOK 131.5 million

· Gross loan portfolio of NOK 6.7 billion

· Cost-income ratio (C/I) of 30.3%

· Book value per share of NOK 13.94

Lea bank will present the results for Q1 2023 on Thursday, April 27, at 10:00

am. The presentation will take place at the bank's premises in Holbergs gate 21,

Oslo. In addition, the presentation will be broadcasted via Microsoft Teams.

Registration can be done to email: [email protected]

Contact information:

Oddbjørn Berentsen, CEO

Tel: +47 22 99 14 00

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