Sparebanken Ost · OSL:SPOG

Sparebanken Ost — Sparebanken Øst Boligkreditt AS — Debt Investor Presentation (December 2015)

12 slides from Sparebanken Ost's debt investor presentation, Dec 31, 2015

  1. Slide 1: Sparebanken Øst Boligkreditt AS Investor presentation

    Sparebanken Øst Boligkreditt AS Investor presentation 31.12.2015 Frode Lindbeck

  2. Slide 2: Sparebanken Øst group

    Sparebanken Øst group • Savings bank established 1843 • Head office in Drammen, 21 branches • Total assets 34.5 bn. NOK (≈€3.6 bn.) • Moody’s rating bank: A3/P-2 stable • Equity instrument «SPOG» Oslo Stock Exchange • Q4 2015 – After tax ROE 9.3 % – CAR / CET1 20.3 % / 16.3 % 2 Frode Lindbeck

  3. Slide 3: Sparebanken Øst Boligkreditt AS

    Sparebanken Øst Boligkreditt AS • Established 14. April 2009 • Fully owned subsidiary of Sparebanken Øst • Moody’s has assigned Aaa rating to covered bonds issued by Sparebanken Øst Boligkreditt AS – All figures in the following presentation are as at December 31st 2015 unless otherwise stated Gylde

  4. Slide 4: Summary Q4 2015

    Summary Q4 2015 Sparebanken Øst Boligkreditt AS • Market value non-recourse sale of loans from bank to covered bond company • All loans in cover pool first priority Norwegian residential mortgages • Collateral property valued by independent specialist Eiendomsverdi AS (AVM) • FSA-appointed independe

  5. Slide 5: Sparebanken Øst Boligkreditt AS 31.12.15

    Sparebanken Øst Boligkreditt AS 31.12.15 Rating Aaa (Moody’s) Total assets in the cover pool 9 017 MNOK Outstanding covered bonds 7 423 MNOK OC 21.5 % Type of collateral 100 % 1st-lien residential properties Floating rate loans 100 % Weighted average LTV 45.8 % Number of loans 6 617 Average loan bal

  6. Slide 6: Property type

    Property type Semi detached 9% Apartment 23 % Detached house 68 % Frode Lindbeck

  7. Slide 7: Regional distribution of Cover Pool

    Regional distribution of Cover Pool SHARE OF LOAN BALANCE 0% 5% 10 % 15 % 20 % 25 % 30 % Buskerud 28,5 % Akershus 21,9 % Oslo 21,8 % Rogaland/Hordaland 10,7 % Vestfold 6,7 % Østfold 3,5 % Northwest/Trøndelag 3,2 % Telemark/Agder 1,8 % Hedmark/Oppland 1,0 % Nordland/Troms/Finmark 0,9 % Distribution c

  8. Slide 8: Seasoning

    Seasoning 4.000 MNOK 3.500 3.000 2.500 2.000 1.500 1.000 500 1.057 3.688 1.839 1.703 476 0 0-1 1-3 3-5 5-10 10+ Years • Weighted average seasoning: 3.73 years • Approx. 46 % of the cover pool is >3 years seasoned Frode Lindbeck

  9. Slide 9: Loan to Value

    Loan to Value MNOK 2.500 2.000 1.500 1.000 500 137 519 956 1.338 1.765 1.958 1.566 511 0 0-10% 10- 20- 30- 40- 50- 60- 70- 20% 30% 40% 50% 60% 70% 75% • Weighted average LTV = 45.8 % • Approx. 76 % of the cover pool has an LTV < 60 % Frode Lindbeck

  10. Slide 10: Issued Covered Bonds

    Issued Covered Bonds ISIN TICKER INT. ISSUED MATURITY CURR. AMOUNT COUPON Mill. NOK NO0010589955 SPOBK02PRO FRN 18.10.10 18.10.16* NOK 923 NIB3+57 NO0010604879 SPOBK03PRO FRN 16.03.11 15.03.17* NOK 1 000 NIB3+60 NO0010623986 SPOBK04PRO FRN 22.08.11 22.02.18* NOK 1 000 NIB3+55 NO0010625858 SPOBK05PRO

  11. Slide 11: Overcollateralization

    Overcollateralization RESIDENTIAL MORTGAGES INCL. SUBSTITUTE COLLATERAL COVERED BONDS OVER-COLLATERALIZATION Q2-14 9.274.167 7.672.740 21 % Q3-14 8.936.936 7.466.310 20 % Q4-14 8.677.330 6.942.910 25 % Q1-15 8.430.924 7.142.070 18 % Q2-15 8.206.591 6.986.200 17 % Q3-15 8.937.563 7.500.000 19 % Q4-15

  12. Slide 12: Sparebanken Øst Boligkreditt AS contact details

    Sparebanken Øst Boligkreditt AS Phone:+47 915 03220 P.O.Box 67 Fax: +47 3288 3712 3301 Hokksund www.oest.no Norway firmapost@oest.no CEO Frode Lindbeck +47 9172 4891 frode.lindbeck@oest.no Investor / Funding Contact Vegard Kvamme +47 9770 0370 vegard.kvamme@oest.no Frode Lindbeck

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