Sparebanken Ost · OSL:SPOG
Sparebanken Ost — Sparebanken Øst Boligkreditt AS — Debt Investor Presentation (September 2016)
12 slides from Sparebanken Ost's debt investor presentation, Sep 30, 2016
Slide 1: Sparebanken Øst Boligkreditt AS Investor presentation
Sparebanken Øst Boligkreditt AS Investor presentation 30.09.2016 Frode Lindbeck
Slide 2: Sparebanken Øst group
Sparebanken Øst group • Savings bank established 1843 • Head office in Drammen, 24 branches • Total assets 35.9 bn. NOK (≈€4.0 bn.) • Moody’s rating bank: A3/P-2 stable • Equity instrument «SPOG» Oslo Stock Exchange • Group figures Q3 2016 – After tax ROE 11.3 % – CAR / CET1 19.6 % / 15.7 % 2 Frode
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 September 30th 2016 unless otherwise stated Gyld
Slide 4: Summary Q3 2016
Summary Q3 2016 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
Slide 5: Sparebanken Øst Boligkreditt AS 30.09.16
Sparebanken Øst Boligkreditt AS 30.09.16 Rating Aaa (Moody’s) Total assets in the cover pool 10 145 MNOK Outstanding covered bonds 8 624 MNOK OC 17.6 % Type of collateral 100 % 1st-lien residential properties Floating rate loans 100 % Weighted average LTV 47.4 % Number of loans 6 851 Average loan ba
Slide 6: Property type
Property type Semi detached 10 % Apartment 26 % Detached house 64 % Frode Lindbeck
Slide 7: Regional distribution of Cover Pool
Regional distribution of Cover Pool SHARE OF LOAN BALANCE 0% 5% 10 % 15 % 20 % 25 % 30 % Buskerud 26,8 % Oslo 24,7 % Akershus 22,4 % Rogaland/Hordaland 9,7 % Vestfold 6,3 % Østfold 3,7 % Northwest/Trøndelag 3,1 % Telemark/Agder 1,6 % Hedmark/Oppland 0,9 % Nordland/Troms/Finmark 0,8 % Distribution co
Slide 8: Seasoning
Seasoning 4.000 MNOK 3.500 3.000 2.500 2.000 1.500 1.000 500 1.533 3.483 2.321 1.924 436 0 0-1 1-3 3-5 5-10 10+ Years • Weighted average seasoning: 3.77 years • Approx. 48 % of the cover pool is >3 years seasoned Frode Lindbeck
Slide 9: Loan to Value
Loan to Value MNOK 2.500 2.000 1.500 1.000 500 125 476 931 1.374 1.915 2.312 1.958 601 0 0-10% 10- 20- 30- 40- 50- 60- 70- 20% 30% 40% 50% 60% 70% 75% • Weighted average LTV = 47.4 % • Approx. 74 % of the cover pool has an LTV < 60 % Frode Lindbeck
Slide 10: Issued Covered Bonds
Issued Covered Bonds ISIN TICKER INT. ISSUED MATURITY CURR. AMOUNT COUPON Mill. NOK NO0010604879 SPOBK03PRO FRN 16.03.11 15.03.17* NOK 443 NIB3+60 NO0010623986 SPOBK04PRO FRN 22.08.11 22.02.18* NOK 1 000 NIB3+55 NO0010625908 SPOBK06 FIXD 05.10.11 05.10.26* NOK 750 4,55 % NO0010682099 SPOBK08 FRN 10.
Slide 11: Overcollateralization
Overcollateralization RESIDENTIAL MORTGAGES INCL. SUBSTITUTE COLLATERAL COVERED BONDS OVER-COLLATERALIZATION 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 9.017.189 7.423.000 21 % Q1-16 10.579.623 8.824.150 20 % Q2-16 10.463.083 8.604.070 22 % Q3-
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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