SPAREBANK 1 NORDMØRE (SNOR) CMD 2025 summary

Strategic direction and regional focus

• Maintains a strong regional presence with 13 offices and 60,000 customers from Ålesund to Trondheim, emphasizing local engagement and community development.

• Continues as an independent financial group with a diversified offering in banking, insurance, real estate, and accounting.

• Strengthens leadership and growth capacity in SpareBank 1 Økonomipartner to support future ambitions.

• Active in regional economic development, with a focus on supporting local businesses and housing projects.

• Celebrates 190 years of history, reinforcing its long-term commitment to the region.

Financial performance and targets

• Achieved 11.5% return on equity, surpassing the >11% target; cost/income ratio at 37.4% (target <40%).

• Maintains a strong CET1 capital ratio of 17.72%, well above the 16.74% target and regulatory requirements.

• Dividend payout ratio within the 50-70% target range.

• Forretningskapital reached NOK 42.1 billion, up from NOK 39.0 billion the previous year.

• Egenkapitalbevis (SNOR) price increased from 144 at year-end 2024 to 161 by mid-2025.

Lending, deposits, and portfolio quality

• Total lending grew by 5.8% over the past 12 months, with a 7.0% average annual growth since 2021.

• Deposit growth reached 8.1% over the last year, reflecting strong performance in both personal and business markets.

• Lending portfolio remains stable and well-diversified, with 74% in personal and 26% in business segments.

• Non-performing loans and stage 3 exposures have decreased, with loan loss provisions at 0.13% of gross loans.

• Scenario weighting for corporate loan risk was adjusted, increasing the downside scenario to 15%.