Norwegian Finans Holding ASA reported group earnings results for the fourth quarter and full year ended December 31, 2011. For the fourth quarter, the company reported interest income of NOK 127.1 million compared to NOK 115.7 million for the third quarter of 2011. Net interest income was NOK 94.4 million compared to NOK 84.0 million in 2010. Total income was NOK 102.1 million compared to NOK 90.2 million for the third quarter of 2011. Profit on ordinary activities before tax was NOK 42.1 million compared to NOK 36.5 million for the third quarter of 2011. Profit on ordinary activities after tax was NOK 30.3 million compared to NOK 26.3 million for the third quarter of 2011. Earnings per share was NOK 0.71 compared to NOK 0.62 for the third quarter of 2011. For the year, the company reported interest income of NOK 425.4 million compared to NOK 243.2 million a year ago. Net interest income was NOK 314.9 million compared to NOK 176.9 million in 2010. The increase in net interest income is attributed to increased lending growth and higher margins. Total income was NOK 340.0 million compared to NOK 187.8 million a year ago. Profit on ordinary activities before tax was NOK 134.5 million compared to NOK 47.8 million a year ago. Profit on ordinary activities after tax was NOK 96.8 million compared to NOK 34.9 million a year ago. Earnings per share was NOK 0.57 compared to NOK 0.21 a year ago. The profit improvement can be attributed to strong lending growth, a higher interest margin, increased cost efficiency, as well as lower defaults on loans. Net cash used in operating activities was NOK 150.4 million compared to NOK 20.1 million a year ago. Payment for acquisition of tangible fixed assets was NOK 0.29 million. Payment for acquisition of intangible assets was NOK 5.2 million compared to NOK 6.3 million a year ago. Return on equity was 29.6%. The bank reports satisfactory earnings in 2011. The board expects continued earnings growth in 2012, based on steady lending growth, stable margins, good cost control and good credit quality.