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SpareBank 1 Østlandet is the leading savings bank in Eastern Norway. We are part of the SpareBank 1 alliance, which consists of independent savings bank across the country.

Q4 2023 and preliminary financial statements for 2023

Key figures for Q4
(Consolidated figures. Figures in brackets concern the corresponding period in 2022)

• Profit after tax: NOK 574 (622) million
• Return on equity: 11.3 (12.9) per cent
• Earnings per equity capital certificate: NOK 3.32 (3.61)
• Net interest income: NOK 1 005 (789) million
• Net commissions and other operating income: NOK 319 (370) million
• Net income from financial assets and liabilities was NOK 77 (172) million.
• Total operating expenses: NOK 594 (517) million
• Net loan loss provisions were NOK 39 (63) million.
• Lending growth in the last quarter, including mortgages transferred to the covered bond companies: 0.9 (1.1) per cent
• Deposit growth in the last quarter: 2.6 (-0.1) per cent
• Common Equity Tier 1 capital ratio: 17.0 (17.7) per cent
• The Bank's green loans (incl. loans transferred to the covered bond companies) amounted to NOK 39 (33) billion at the end of the fourth quarter

Contacts at SpareBank 1 Østlandet:

From left:
Richard Heiberg, CEO, tel.: +47 902 06 018
Geir-Egil Bolstad, CFO, tel.: +47 918 82 071

See reports

Provisional annual results for 2023
(Consolidated figures. Figures in brackets concern the corresponding period in 2022)

• Profit after tax: NOK 2 222 (1 948) million
• Return on equity: 11.3 (10.5) per cent
• Earnings per equity capital certificate: NOK 12.99 (11.37)
• Net interest income: NOK 3 655 (2 693) million.
• Net commissions and other operating income: NOK 1 455 (1 588) million
• Net income from financial assets and liabilities: NOK 233 (162) million
• Total operating expenses: NOK 2 191 (2 037) million
• Net loan loss provisions were NOK 307 (27) million.
• Lending growth in the past 12 months, including mortgages transferred to the covered bond companies: 5.3 (8.7) per cent
• Deposit growth in the past 12 months: 7.8 (7.2) per cent
• The Board of Directors is proposing to the Supervisory Board of the Bank a cash dividend of NOK 7.80 (6.80) per equity capital certificate, totalling NOK 903 (788) million. Customer dividends of NOK 381 (306) million and a provision of NOK 6 (31) million for gifts are also proposed.

Thursday 22 February 2024

Merger approved by the General Meeting of Totens Sparebank and the Supervisory Board of SpareBank 1 Østlandet.

– I am very pleased that we received a positive decision in both banks. I am convinced that this is a good solution for both employees, customers, owners, and the community that Totens Sparebank is a part of, says CEO Richard Heiberg, SpareBank 1 Østlandet.

The implementation of the merger is still conditional upon the necessary approvals from relevant supervisory authorities without imposing conditions that significantly alter the assumptions that the banks have made under the merger plan.

CEO Richard Heiberg, SpareBank 1 Østlandet and CEO Rolf Endre Delingsrud , Totens Sparebank.

Totens Sparebank and SpareBank 1 Østlandet signs letter of intent to merge

The boards of Totens Sparebank and SpareBank 1 Østlandet have signed a letter of intent to merge the two banks. The merger will contribute to an increased focus on the Inland region, with strengthened local presence, proximity to customers and growth capacity.

See stock exchange announcement

3rd Quarter: A quarterly result characterised by solid underlying banking operations, but increased provisions for credit losses

Third quarter of 2023 (Consolidated figures. Figures in brackets concern the corresponding period in 2022)

Profit after tax: NOK 417 (441) million
Return on equity: 8.3 (9.4) per cent
Earnings per equity capital certificate: NOK 2.41 (2.58)
Net interest income: NOK 941 (694) million
Net commissions and other operating income: NOK 358 (385) million
Net income from financial assets and liabilities: NOK -63 (10) million
Total operating expenses: NOK 533 (496) million
Net loan loss provisions were NOK 134 (19) million.
Lending growth in the last quarter, including mortgages transferred to the covered bond companies: 1.4 (1.8) per cent
Growth in deposits in the last quarter: -1.9 (-1.1) per cent
Lending growth in the past 12 months, including mortgages transferred to the covered bond companies: 5.4 (9.6) per cent
Deposit growth in the past 12 months: 5.0 (8.4) per cent
Common Equity Tier 1 capital ratio: 17.7 (18.2) per cent
The Bank's green loans (incl. loans transferred to the covered bond companies) amounted to NOK 39 (31) billion at the end of the third quarter