AnnualReport2021

Page 199

Financial results Good financial performance is a prerequisite for the bank’s existence and is crucial when it comes to us being able to facilitate value creation in our area. The topic is, therefore, very important for both the bank and our stakeholders. We have owners who expect a return on their investments, and we have lenders who lend us money based on the bank’s profitability and financial strength. We also have customers who want competitive terms, at the same time as our employees are interested in having a good, reliable employer. Good financial performance is also important when it comes to us being able to support our local communities through the bank’s social engagement.

The financial targets for the strategy period 20222025 are a return on equity of more than 11 per cent and a cost income ratio of less than 40 per cent. The goal is also to achieve a lower level of losses than the average for Norwegian banks. There is no detailed information about the topic ‘­Financial results’ in the bank’s annual report, see the references in the GRI index.

Contribution to business development Business development in Nordvestlandet is vital for both value creation and employment, and it is important that this is done in a sustainable manner that safeguards the region’s future. One of the bank’s key tasks is to help with the creation of new businesses and jobs, and through this local communities as well. The bank is a significant contributor to regional business development and value creation. Both through social engagement (entrepreneur programme, support for meeting places and the Næringsteft concept) and through ordinary lending activities, participation in the Growth Guarantee Scheme and various skills development measures, we contribute to SDG 8 regarding economic growth, SDG 9 regarding innovation and infrastructure, and SDG 11 regarding sustainable cities and local communities. Nordvestlandet has a competitive business sector and many of the companies are leaders within their industries. The bank’s corporate advisers are locals and have specialised in individual industries. We have done this to understand their needs and to be able to be active sparring partners in a company’s development. At the same time, the bank wants to create arenas where companies in different industries and specialist environments can meet. This provides motivation and a basis for developing innovation and cooperation.

Sparebanken Møre Annual report 2021

Measures implemented in 2021 Sparebanken Møre has around 6,200 active corporate customers spread across three geographical units and five different branches. In 2021, our 46 corporate advisers invited to and conducted conversations with around 3000 customers. We also have a separate customer service unit, Næringsbasen, for the corporate market, which talks to the customers every day. The unit’s staffing was significantly increased in 2021 in order to help start-ups and companies in their operational phase within, for example, payment transmission services, insurance, leasing and financing. A close dialogue with the customers was also particularly important in 2021 in order for us to be there and provide support to our customers in relation to the impact of Covid-19. Even though we were able to meet and visit customers more frequently this year, much of our dialogue took place digitally and on the phone. We have kept our customers continuously up-to-date on the measures and changes in public pandemic support schemes, and it has been important for us to be

Material topics Corporate social responsibility and sustainibility

199