SPAREBANK 1 ØSTFOLD AKERSHUS (SOAG) CMD 2025 summary

Financial performance and guidance

• Achieved return on equity of 14.3% in 2024, exceeding the >10% target.

• Core equity tier 1 ratio at 17.4%, above the >16% target.

• Dividend payout set at 50% of parent bank profit.

• Cost-to-income ratio improved to 41.5% in 2024, down from 44.5% in 2023.

• Maintained strong net interest margin and stable profitability year-over-year.

Business growth and market position

• Personal market lending grew by 5.1%, with increased market share.

• Corporate market lending rose by 10.3%, also gaining market share.

• Real estate brokerage market share reached 18.4%.

• Accounting services revenue increased by 10.4%.

• Loan portfolio remains dominated by personal market (76.1%).

Capital, funding, and risk

• Maintained solid funding structure with deposit coverage at 81.1% in 2024.

• Weighted average maturity of external funding is 3.04 years.

• Low loan losses, though some increase noted in the second half of 2024.

• Portfolio quality remains high with low default rates in both personal and corporate segments.

• New Pillar 2 capital requirement clarified for the group.