Customers dividend

SpareBank 1 Østlandet becomes the first Norwegian bank to offer customer dividends.


Will share profit with customers

As the first bank in Norway, SpareBank 1 Østlandet will share its profits and pay dividends to customers just as it does to its owners. The customers will then automatically receive an annual amount based on the bank’s profit and how much they themselves have in deposits and loans.


Facts on customer dividends in SpareBank 1 Østlandet

  • Customer dividends are distributed based on an annual evaluation of the bank’s profitability, financial soundness and market expectations amongst other things. The bank’s supervisory board decides whether customer dividends shall be paid out and how much.
  • Customer dividends are distributed to bank customers according to how much in loans and deposits they have in the bank. Customers of SpareBank 1 Oslo Akershus will receive dividends from the time the two banks merged, on 3 April 2017.
  • The dividends are based on the daily balance* throughout the last calendar year with effect from 2017 and are granted for deposits of up to NOK 2 million plus loans of up to NOK 2 million, in other words up to NOK 4 million – which is then the maximum basis of calculation on both deposits and loans. (*This is calculated in the same way as interest.)
  • Customer dividends are paid out after the annual accounts are approved. Both dividends to equity certificate owners and dividends to customers are determined annually by the bank’s supervisory board in connection with approval of the annual accounts. The first dividend payment will happen early in 2018.
  • Savings banks are distinct from commercial banks in that they have both (equity) capital which is owned by normal owners as in limited companies and (primary) capital which is independent and is owned by the bank. The primary capital is unique to savings banks and the dividends on this capital is what the bank distributes to the customers.
  • The bank’s dividend to customers is proportionately as large as the dividends to the owners of equity certificates. Profits are distributed based on the proportion of capital belonging to owners of equity certificates and the primary capital (owned by the bank), respectively. Equity certificates are the savings banks’ equivalent to shares.