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Sparebank 1 Ostlandet
OSE:SPOL

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Sparebank 1 Ostlandet
OSE:SPOL
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Price: 159.6 NOK 0.61%
Market Cap: 21.7B NOK

Sparebank 1 Ostlandet
Investor Relations

SpareBank 1 Østlandet, a prominent financial institution in Norway, stands as a testament to the resilience and adaptability of regional banking. Founded in the midst of a rapidly evolving banking landscape, the bank has skillfully navigated the challenges by emphasizing its strong regional ties and community-focused ethos. Over the years, it has established itself as a significant player by forming partnerships and alliances, notably as part of the SpareBank 1 Alliance. This collaboration allows the bank to leverage economies of scale, technology, and expertise that enable it to compete with larger financial institutions. The bank's quintessential Nordic approach marries traditional values with progressive modern practices, striking a balance that has garnered trust among its customers.

At its core, SpareBank 1 Østlandet operates by offering an array of financial services that cater to both individuals and businesses. Revenue streams primarily flow from interest income on loans such as mortgages and business financing, alongside fees and commissions from various banking services. The bank's meticulous focus on digital transformation has also enabled it to enhance customer experience while ensuring cost-effective operations. This, combined with their commitment to the sustainability agenda, positions them well in the eyes of environmentally conscious consumers. Their portfolio management and advisory services further bolster their financial standing, allowing clients to grow their wealth under informed guidance. Through these diverse activities, SpareBank 1 Østlandet remains a sturdy pillar in Norway’s financial sector, innovatively shaping its future while nurturing its rich heritage.

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Earnings Calls

2024 Q1
May 8, 2024
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SpareBank 1 Østlandet Reports Record High Earnings
2024 Q1
May 8, 2024

SpareBank 1 Østlandet started 2024 with record high earnings, achieving a return on equity of 17.4%, the highest since 2019. Earnings were driven mainly by a robust core banking business, growth in interest income, and increased lending and deposits. However, operating costs rose by 6% due to merger activities and the acquisition of an accounting firm. Loan losses remained low at 10 basis points. Despite solid profitability and increased customer dividends, the bank is cautious about ongoing challenging macroeconomic environments. Financial targets remain unchanged, focusing on sustainable growth and community contributions.

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Management

Mr. Geir-Egil Bolstad
Chief Financial Officer
No Bio Available
Ms. Liv Krokan Murud
Executive Vice President HR & Legal
No Bio Available
Ms. Siv Stenseth
Executive Vice President of Communication & Social Affairs
No Bio Available
Mr. Hans Olav Wedvik
Executive Vice President of Corporate Division
No Bio Available
Mr. Vidar Nordheim
Chief Risk Officer
No Bio Available
Ms. Kari Elise Gisnas
Executive Vice President of Retail Division
No Bio Available
Mr. Espen Mejlænder-Larsen
Executive Vice President of Organisation Market & Capital Market Division
No Bio Available
Ms. Elin B. Ørbæk
Executive VP of Quality & Financial Crime
No Bio Available
Ms. Klara-Lise Aasen
Group CEO
No Bio Available
Mr. Johan Overseth Rostoen
Executive VP of Operations & Integration
No Bio Available

Contacts

Address
HEDMARK
Hamar
Strandgata 15
Contacts