Sparebank 1 Ostlandet · OSL:SPOL
Sparebank 1 Ostlandet — SpareBank 1 Østlandet — Q1 2022 Earnings Presentation
81 slides from Sparebank 1 Ostlandet's earnings presentation, May 2022
Slide 1: Company presentation May 2022
Company presentation May 2022 1
Slide 2: Introduction
01 Introduction Financial targets and key 02 developments Highlights from 1Q-22 Financial 03 Accounts 04 Strategic destination 2025
Slide 3: The bank in brief
The bank in brief • Norway’s fourth largest savings bank • One of the best capitalised regional savings bank in Norway - CET1 18.0 %, capital adequacy ratio of 20.9 %, leverage ratio 7.3 % • Low risk bank book with a 73.3 % retail share • Diversified income stream • Long history of solid returns and
Slide 4: Where we are
Where we are SpareBank 1 Østlandet’s home market: Inland and Capital regions • Population 1.7 million • The fastest growing region of Norway for both population and job creation • Low unemployment, high economic activity, cyclically stable • Market leader in the Inland region, challenger in the Capi
Slide 5: Portfolio overview: Low credit risk
Portfolio overview: Low credit risk Lending to customers per sector (% and NOK million) Private customers 43,8 %/77,847 Retail market 73.3 %/130,314 SB1 Boligkreditt 29,5 %/52,467 Real estate (incl. SB1 Næringskreditt) 12,1 %/21,506 Primary industries 4,2 %/7,551 Commercial services/Public sector 3,
Slide 6: Diversified main activities
Diversified main activities Several sources of income - parent bank, subsidiaries and other ownership interests Operational divisions Selected key subsidiaries Selected other ownership interests EiendomsMegler 1 Totens Sparebank Retail Innlandet AS ~25% 100% Savings bank Segment Real estate agent KO
Slide 7: Part of the SpareBank 1 Alliance
Part of the SpareBank 1 Alliance Provides operational and financial economies of scale as well as diversified product offering Key comments Key joint ventures Key associated companies • Total number of branches: appr. 200 «SpareBank 1 Alliance» = 13 cooperating independent savings banks • Total numb
Slide 8: Financial targets and key developments
01 Introduction Financial targets and key 02 developments Highlights from 1Q-22 Financial 03 Accounts 04 Strategic destination 2025
Slide 9: Financial targets for 2021
Financial targets for 2021 Profitability Return on equity at least 11 % Dividends 50 % pay-out ratio1 Solidity Regulatory requirement + 100 bps2 Costs Max 2 % cost increase in parent bank3 1. Out of profits after taxes taking into account non-controlling ownership interest and interest on hybrid cap
Slide 10: Bank delivered on targets for profitability, dividends, and solidity
Bank delivered on targets for profitability, dividends, and solidity Delivering on cost target for 2021 was more challenging Return on equity, actual and target, % Dividend (NOK/ECC) and dividend share (%) 12.8 % 11.6 % 10 50.7 % 48.7 % 50.1 % 50.2 % 0.60 10.2 % 10.5 % 10.1 % 39.7 % 0.40 5 6.00 4.58
Slide 11: Bank has achieved significant economies of scale following 2017-merger
Bank has achieved significant economies of scale following 2017-merger Significant asset growth, stable costs over time Operating costs, parent bank, contributions to changes (NOK million) 1,500 Growth in total assets including loans transferred to covered bond companies: 41 % 250,000 207,875 1,450
Slide 12: Target for cost growth in parent bank in 2022 of below 4%
Target for cost growth in parent bank in 2022 of «below 4%» Ambition for the bank remains increased scale, cost efficiency and profitability Cost/income ratio, annual Cost target for 2022 reflects: • High underlying wage inflation 54.3 % 51.5 % • Strategic initiatives 48.2 % 45.0 % 45.7 % 44.8 % Ach
Slide 13: Revised financial targets
Revised financial targets Aligned with planned strategic initiatives and increased cost inflation Profitability Return on equity at least 11 % Dividends 50 % pay-out ratio1 Solidity Regulatory requirement + 100 bps2 Costs 2022: Cost increase in parent bank below 4% 1. Out of profits after taxes taki
Slide 14: Customer growth continues
Customer growth continues Numbers of customers in parent bank (in 1,000x)1 390 384 40 378 • Strong customer growth in 1Q-22, 371 38 366 with 6,342 new customers. 370 361 36 357 354 356 • Net customer growth in the bank 351 348 34 350 343 345 over the past 12 months was 6.3 % 341 339 336 32 y/y. 333
Slide 15: Solid development in customer satisfaction
Solid development in customer satisfaction Development in customer relations (TRIM) for retail customers in SpareBank 1 Østlandet* 75 69 68 65 2015 2017 2019 2021 Source: Kantar, SpareBank 1 Østlandet. 15
Slide 16: Extension of LO-agreement
Extension of LO-agreement. Important for growth, retention and cross sales Close cooperation with trade union (LO) and LOFavør extended with agreement until autumn 2024 Lending through LO-favør (NOK bn) 47.9 14.9% 41.7 1Q21 1Q22 16
Slide 17: Our ambition is to be the best at cross sales
Our ambition is to be the best at cross sales LO-agreement contributes strongly to increase the product range of our customers Commission fee, Fremtind Forsikring, in 2021* Bank 1 Bank 2 Bank 3 SB1 Østlandet Bank 4 Commission fee, SpareBank 1 Forsikring, in 2021* Bank 1 Bank 2 Bank 3 SB1 Østlandet B
Slide 18: Customer dividends is integral to our brand
Customer dividends is integral to our brand Payment of NOK 295 mill. in April. Widely marketed and new overview in mobile bank app Customer dividends paid, NOK mill. 1,149 400 1,200 800 200 295 202 206 227 400 220 0 0 2018 2019 2020 2021 2022* Annual payments Accumulated payments (r.a.) Payments, %
Slide 19: It's SpareBank 1's best unknown product
Norway’s most personal mobile bank SpareBank 1 shall take the position as the banks that develop the best digital solutions. And the best evidence is the mobile bank. Surveys conclude that SpareBank 1 has the best mobile bank in the Norwegian market, but it is too little known outside SpareBank 1’s
Slide 20: Sparebankstiftelsen Hedmark has donated more than NOK 400 mill.
Sparebankstiftelsen Hedmark has donated more than NOK 400 mill. Foundation uses dividends from the bank for many and large donations in the local community Annual donations (mill. NOK) and fund distribution 403 2021 2020 Business/Entrepreneurs 13 % 2019 Sports 2018 and outdoor 2017 activities 25 % C
Slide 21: Sustainability has been a key component of our strategy since 2018
Sustainability has been a key component of our strategy since 2018 Green Asset Ratio: Introducing eligibility Assets: 19 % In scope ESG ratings reporting 81 % Out of scope Sustainability Reporting Green Bond Framework External Sustainability Initiatives Sustainable Edge: ESG risk Climate risk assess
Slide 22: Highlights from 1Q-22 Financial Accounts
01 Introduction Financial targets and key 02 developments Highlights from 1Q-22 Financial 03 Accounts 04 Strategic destination 2025
Slide 23: Highlights in 1st quarter of 2022
Highlights in 1st quarter of 2022 Summary • Return on equity in the quarter was 12.2%, above the financial target of 11.0 % and compared with 10.6 % in the same period in 2021: - NII (incl. commission income from the covered bond companies): Up 6.7 % y/y, due in particular to solid lending growth (o
Slide 24: Financial targets and achievements in 1Q 2022
Financial targets and achievements in 1Q 2022 Profitability Return on equity at least 11 % 12.2 % Dividends 50 % pay-out ratio1 50 % Solidity Regulatory requirement + 100 bps2 18.0 % Costs Max 4 % cost increase in parent bank3 5.6 % 1. Out of profits after taxes taking into account non-controlling o
Slide 25: Very low unemployment and relatively elevated house price inflation
Very low unemployment and relatively elevated house price inflation Lack of labour, not jobs. House price inflation partly explained by supply side effects Apr-22 Norway Oslo Asker/Bærum Follo Romerike Inland y/y 6.2% 4.6% 6.3% 5.9% 5.4% 6.1% ytd 2.0% 1.1% 0.7% 1.6% 0.9% 2.4% 5 years 22.1% 21.9% 23.
Slide 26: Price and cost pressures
Price and cost pressures Reflects a strong economy, with high wage growth but also capacity pressures Wage growth, % change y/y 4.50 4.5 3.50 3.5 2.50 2.5 1.50 1.5 0.50 0.5 -0.50 -0.5 -1.50 -1.5 -2.50 -2.5 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Nominal wages Real wages 26
Slide 27: Norges Bank signals higher policy rates
Norges Bank signals higher policy rates But lower 3-month Nibor following quarter-end, probably due to improved NOK-liquidity 27
Slide 28: Income statement
Income statement Group 1Q22 4Q22 1Q21 2021 Net interest income 594 573 535 2.202 Net commission income 322 355 316 1.389 Other income 66 59 62 233 Dividends 16 0 11 21 Net profit from ownership interest 16 126 59 405 Net income from financial assets/liabilities 68 -14 38 174 Total operating expenses
Slide 29: Good growth in NII due to volume growth and interest rate adjustments
Good growth in NII due to volume growth and interest rate adjustments Growth of 6.7 % y/y in NII including commissions from covered bond companies Net interest income incl. commissions from covered bond companies (MNOK and %) 1600 1.60% 1.53% 1400 1.46% 1.47% 1.50% 1.44% 1200 1.41% 1.40% 1000 Commis
Slide 30: Solid lending growth
Solid lending growth Growth of 9.4 % y/y. Particularly strong corporate market growth, but also good in retail market Gross lending (NOK billion) Lending growth (12 months, %) Last national* Households: 5.0% 177.8 Non-fin corp.: 4.2% 2.0 % 173.7 2.4 % 2.9 % 167.3 1.8 % 170.4 162.6 14.6 % 45.5 47.5 4
Slide 31: Lower lending margins
Lower lending margins Higher money market rates contributed negatively Lending margins, parent bank (%)* 3.06% 2.79% 2.69% 2.67% 2.61% 2.64% 2.49% 2.53% 2.51% 2.50% 2.48% 2.46% 2.45% 2.42% 2.51% 2.33% 2.22% 1.76% 1.81% 1.74% 1.66% 1.69% 1.59% 1.60% 1.55% 1.53% 1.53% 1.55% 1.52% 1.39% 1.37% 1.27% 1.2
Slide 32: Good growth in deposits
Good growth in deposits Deposit growth of 7.4 % y/y, highest for corporate customers Deposits (NOK billion) Deposit growth 12 months (%)* 92.6 92.2 93.9 91.3 1.9 % 87.5 -1.4 % 1.0 % 5.8 % 41.0 40.3 40.9 41.6 1Q21; 10.7 % 38.4 4Q21; 10.8 % 8.4 % 6.6 % 1Q21; 8.5 % 49.0 51.6 51.0 51.3 52.3 4Q21; 5.3 %
Slide 33: Strong increase in deposit margins
Strong increase in deposit margins In line with higher money market rates (Nibor) Deposit margins, parent bank (%)* 0.63% 0.52% 0.73% 0.42% 0.43% 0.43% 0.44% 0.30% 0.28% 0.33% 0.32% 0.51% 0.23% 0.42% 0.40% 0.28% 0.29% 0.36% 0.09% 0.07% 0.28% 0.22% 0.22% 0.03% -0.02% -0.06% -0.04% 0.08% 0.06% 1Q18 2Q
Slide 34: Lower commission income q/q, but considerable growth from 1Q21
Lower commission income q/q, but considerable growth from 1Q21 Strong growth in payment services and higher commission income from mutual funds and insurance Commision income and other income, excluding covered bond companies (NOK million) 302 306 295 285 17 271 11 15 39 14 15 40 35 38 36 49 43 Comm
Slide 35: Profits in subsidiaries
Profits in subsidiaries Profit after taxes in 1Q 2022 (same period last year in brackets) NOK 44 million (NOK 48 million) NOK 5 million (NOK 1 million) SpareBank 1 Finans Østlandet AS - Group SpareBank 1 Østlandet VIT AS - Group • Low loan losses, healthy margins, increased other income. • Increased
Slide 36: Profits in joint ventures
Profits in joint ventures Profit after taxes in 1Q-2022 (same period last year in brackets) NOK 40 million NOK 17 million (NOK 2 million) SpareBank 1 Forvaltning AS - Founded on 1 May 2021 SpareBank 1 Kreditt AS • Good net sales gave increase in management fees • Reopened society and reduced loss wr
Slide 37: SpareBank 1 Gruppen: Weak stock markets and high insurance claims
SpareBank 1 Gruppen: Weak stock markets and high insurance claims Quarterly post-tax profits (NOK million). SpareBank 1 Gruppen and selected subsidiaries SpareBank 1 Gruppen Fremtind Forsikring 1080 811 1043 559 549 621 466 507 94 79 1Q21 2Q21 3Q21 4Q21 1Q22 1Q21 2Q21 3Q21 4Q21 1Q22 SpareBank 1 Fors
Slide 38: Net positive contributions from financial items
Net positive contributions from financial items Net value changes on equity instruments contributed NOK 92 mill. over the quarter Net income from financial assets and liabilities, NOK million 198 181 0 9 Dividends from shares and other equity 88 instruments 62 113 108 0 100 Net profit from other fin
Slide 39: Higher costs
Higher costs Cost growth in parent bank above annual target. Costs in subsidiaries stable over the year Operating costs by item (NOK million) Operating costs, by unit (NOK mill.) 600 531 485 504 531 492 473 504 500 485 492 87 473 62 54 65 58 20 20 400 150 15 14 22 143 23 21 13 27 16 143 153 136 78 7
Slide 40: Lower losses compared with previous quarter
Lower losses compared with previous quarter Primarily due to growth and migration Loan loss provisions (NOK million) 200 151 0.90% 150 130 0.70% 1 0.56% 100 0.47% 0.50% 47 0.30% 50 24 33 28 4 0.12% 0.16% -16 -33 8 -18 11 0.10% 0.09% 0.00% 0.01% 0 0.04% -0.05% 0.09% -0.10% 0.03% -0.06% -0.14% -0.30%
Slide 41: High CET-1 capital ratio
High CET-1 capital ratio Well above regulatory requirements now and longer term • In 1Q, the Group’s CET-1 capital ratio was 18.0 %. The CET-1 capital ratio (actual and required), Group Group’s long-term CET 1-target is the regulatory requirement with an added management buffer of 100 17.8 % 18.0 %
Slide 42: Strategic destination 2025
01 Introduction Financial targets and key 02 developments Highlights from 1Q-22 Financial 03 Accounts 04 Strategic destination 2025
Slide 43: Strategic destination 2025: Norway's best relationship bank
Strategic destination 2025: Norway’s best relationship bank 43
Slide 44: Creating together
Business idea We exist so that people and businesses can succeed Together we create sustainable growth and development in Eastern Norway Vision Creating together Targets 2025 We know our customers We create tomorrow’s We are a clear driver of We have one of the most and we create the best relationsh
Slide 45: Creating together
Creating together Proficient Near Engaged We have worked for more than 175 years for people and businesses to succeed Our work continues
Slide 46: APPENDIX Financials/ESG/ECC
2022 APPENDIX Financials/ESG/ECC
Slide 47: Profit after taxes and return on equity
Profit after taxes and return on equity Profit after tax (NOK mill.) Return on equity (%) 561 536 516 505 12.6% 439 12.1% 12.2% 11.1% 10.6% 1Q21 2Q21 3Q21 4Q21 1Q22 1Q21 2Q21 3Q21 4Q21 1Q22 47
Slide 48: Key financials - quarterly (1)
Key financials - quarterly (1) Pre-tax profit (NOK million) Net interest income and commission fees from covered bond companies (NOK million) 706 637 554 542 573 643 655 681 681 686 1Q21 2Q21 3Q21 4Q21 1Q22 1Q21 2Q21 3Q21 4Q21 1Q22 Netto commision income excl. covered bond companies Operating expens
Slide 49: Key financials - quarterly (2)
Key financials - quarterly (2) Impairments on loans and guarantees (NOK million) CET-1 ratio 28 17.8 % 17.8 % 18.0 % 18.0 % 18.0 % 11 4 -18 -16 1Q21 2Q21 3Q21 4Q21 1Q22 1Q21 2Q21 3Q21 4Q21 1Q22 Lending growth last 12 months, inc. transferred loans Deposit growth last 12 months 9.4 % 7.7 % 9.5 % 8.3
Slide 50: Bank has adjusted interest rates following Norges Bank's rate hikes
Bank has adjusted interest rates following Norges Bank’s rate hikes Deposit coverage of 53 %. Net NOK 8 bn. in Nibor-linked loans Norges Bank 23 Sep-21 16 Dec-21 24 Mar-22 Loans and deposits, NOK bn. Effective dates new loans and deposits, excl. loans 1 Oct-21 5 Jan-22 1 Apr-22 with LO-terms Gross l
Slide 51: Structure on funding and security holdings also affect rate change effects
Structure on funding and security holdings also affect rate change effects Most rate fixings of own balance sheet occur towards end of the quarter. Covered bond funding lags Nibor. Net rate fixings per month, share of quarter, %** Securities, NOK bn.* 87% 89% 68% 51% 21% 17% 31% 12% 12% 11% 1% 24 24
Slide 52: Reduced headcount through the year
Reduced headcount through the year Particularly due to lower FTEs for real estate broker in Oslo and in the parent bank Full-time equivalents in parent bank and subsidiaries 1,143 1,137 1,135 1,137 1,131 170 168 169 174 170 The VIT AS 51 53 54 54 54 76 76 79 79 81 SpareBank 1 Finans Østlandet AS 145
Slide 53: Cyclically stable loan portfolio
Cyclically stable loan portfolio Lending to customers per sector (% and NOK million) Private customers 43,8 %/77,847 Retail market 73.3 %/130,314 SB1 Boligkreditt 29,5 %/52,467 Real estate (incl. SB1 Næringskreditt) 12,1 %/21,506 Primary industries 4,2 %/7,551 Commercial services/Public sector 3,6 %
Slide 54: The Group's lending by geography
The Group’s lending by geography Lending to customers per geographic area and change last 12 months (% and NOK million) Lending to customers per county (share in %/NOK million) Change last 12 months Innlandet 38,3 %/ 68,121 5.1 % Viken 29,5 %/ 52,420 8.6 % Oslo 28,5 %/ 50,652 15.3 % Other areas 3,7
Slide 55: Mortgage loan growth by geography
Mortgage loan growth by geography Retail lending per geographic area and change last 12 months (% and NOK million) Retail lending by county (share in %/NOK million) Change last 12 months Innlandet 34,8 %/ 45,331 4.1 % Viken 34,3 %/ 44,737 10.4 % Oslo 27,1 %/ 35,309 7.5 % Other areas 3,8 %/ 4,937 17.
Slide 56: Large single exposures driving geographic allocation of CM growth
Large single exposures driving geographic allocation of CM growth Corporate lending per geographic area and change last 12 months (% and NOK million) Corporate lending by county (share in %/NOK million) Change last 12 months 48,0 %/ Innlandet 7.3 % 22,789 Viken 16,2 %/ 7,683 -0.6 % 32,3 %/ Oslo 38.4
Slide 57: Highly collateralised mortgages and no signs of debt servicing problems
Highly collateralised mortgages and no signs of debt servicing problems Number of digital applications for mortgage deferrals have been stable over a long time period LTV by exposure* Mthly applications for mortgage deferrals** 96.4 % 3.1 % 0.3 % 0.2 % Below 70% LTV 70-85% LTV 85-100% LTV Over 100%
Slide 58: Commercial real estate is the bank's 2nd largest customer segment
Commercial real estate is the bank’s 2nd largest customer segment NOK 27.4 bn. in gross loans to commercially-related real estate, including building and construction • Financing of commercially related real CRE-related, share of gross lending* estate is the bank’s largest corporate Building and Hou
Slide 59: CRE for lease: Attractive location, good collateral, diversified rental type
CRE for lease: Attractive location, good collateral, diversified rental type 96 % of tenants have contracts that are 100 % indexed (to CPI) * Location* Normal : 9% Acceptable: Share of lending according to LTV* 1% 60.3 % Best: 40% Central: 50% 15.4 % 17.4 % 1.4 % 5.4 % 0.0 % 0.1 % < 30% 30 - 50% 50
Slide 60: Challenges for building and construction
Challenges for building and construction But customers report limited risk of cancelled projects • Bank regularly maps customers wrt. cost increases, delivery times, labour supply constraints, risk of delays etc. ‒ Delivery problems for some products, most often solved by using substitutes. ‒ Strong
Slide 61: Projects & building: Good growth, evenly distributed over building process
Projects & building: Good growth, evenly distributed over building process Requirement of pre-sales normally of at least 60 %, depending for example on EQ and complexity Loans to real estate projects, building and Draw on construction loans, volume-weighted, construction, NOK bn.* share in %* 30% 5,
Slide 62: Agriculture: Important customer group for the bank
Agriculture: Important customer group for the bank Portfolio characterised by diverse production, low LTVs, and many, relatively small loans* Production** Other ; 3% Share of loans by LTV*** 37% Forestry and forestry 28% services; 20% Livestock; 38% 20% 10% Field crops, cereals, 4% horticulture; 28%
Slide 63: Cost challenges for agricultural sector following good years in 2019-20
Cost challenges for agricultural sector following good years in 2019-20 Bank supports one of its most important and solid customer segments with a favourable liquidity loan • Farmers are an important customer group for the bank. Loan losses have historically been very low, in line with mortgage loan
Slide 64: Exposures per stage and credit loss provision ratio in stage 3
Exposures per stage and credit loss provision ratio in stage 3 Exposure by stages, (% of gross loans) Loans in Stage 3 (NOK mill.) 800 742 18.5 % 724 18.3 % 703 95.0 % 15.0 % 700 660 18.0 % 92.19% 92.12% 92.21% 90.85% 90.91% 590 13.0 % 600 17.5 % 90.0 % 11.0 % 17.2 % 500 16.9 % 17.0 % 8.60% 8.62% 85
Slide 65: Stable low LTV in new mortgage approvals
Stable low LTV in new mortgage approvals Share of new mortgage approvals and average LTV per period and county Percentage of new mortgage appovals (volume) 73% 72% Average LTV at the time of approval 70% 69% 69% 68% 67% 67% 66% 66% 66% 65% 65% 65% 63% 63% 64% 64% 63% 63% 62% 62% 62% 62% 61% 61% 61%
Slide 66: Size concentration risk in the lending book is low
Size concentration risk in the lending book is low Retail and corporate loans by size (% share)* Retail market 45.00% Corporate 50.0% market 38.7 % 45.0% 40.00% 40.0% 35.00% 32.2 % 35.0% 30.00% 30.0% 26.1 % 25.00% 25.0% 22.3 % 21.8 % 20.00% 20.0% 16.3 % 15.0% 15.00% 11.0 % 10.0 % 8.8 % 10.0% 10.00%
Slide 67: The use of the flexibility quota is targeted at priority customers
The use of the flexibility quota is targeted at priority customers Exposure per LTV bucket in the residential mortgage portfolio LTV by exposure** Mortgages – Utilisation of flexibility quota in 1Q-22: 96.4 % City of Oslo Other areas 7.9 % (8 % quota) 8.4 % (10 % quota) Bank uses the flexibility quo
Slide 68: Release of details related to net zero target for 2050
Release of details related to net zero target for 2050 In line with membership in the Net Zero Banking Alliance and UN’s CCCA • Includes calculation of actual emissions as well as how to determine emission targets for own The path to Net Zero in the retail portfolio operations and the loan portfolio
Slide 69: Publication of comprehensive taxonomy-related information
Publication of comprehensive taxonomy-related information Although the bank is not yet subject to taxonomy-related reporting requirements • Implementation of the EU Taxonomy Regulation and Sustainable Finance Disclosure Regulation into Norwegian law is expected during the first half of 2022. • Spare
Slide 70: Capital structure and allocation of 2021 profit
Capital structure and allocation of 2021 profit In line with target of 50 % dividend share, for owners and society (through primary capital) ILLUSTRATION Profit after controlling Gifts and interest donations NOK 1,985 million 69.8% 30.2% Foundation Owners Primary capital NOK 362 million 52.1% Divide
Slide 71: SPOL
SPOL Metrics and performance ytd 31.03.2022 31.03.2021 • SPOL return: Market price (NOK) 140.00 111.40 • Return 1Q-225 + 0.3 % Market capitalisation (NOK million ) 16,216 12,903 • Return y/y5 + 33.9 % Book equity per ECC 1) 106.16 99.28 • Liquidity in 1Q-22 compared to same period in 2021. Earnings
Slide 72: APPENDIX Strategy
2022 APPENDIX Strategy
Slide 73: Strategic destination 2025: Norway's best relationship bank
Strategic destination 2025: Norway’s best relationship bank 73
Slide 74: Creating together
Business idea We exist so that people and businesses can succeed Together we create sustainable growth and development in Eastern Norway Vision Creating together Targets 2025 We know our customers We create tomorrow’s We are a clear driver of We have one of the most and we create the best relationsh
Slide 75: Data and insights
Data and insights Smarter use of data We will improve competitiveness by better utilisation of our CRM-system, the marketing platform and customer interfaces to deliver value added to customers and the bank: • Identify, streamline and automate prioritised customer and work processes • Modernise the
Slide 76: Sustainable operations and development
Sustainable operations and development Extend and develop a running theme through our history of more than 175 years Bank will take a leading role in the green transition, both as a facilitator and a driver for sustainable solutions: • Green lending and funding • Advice • Responsible consumption • M
Slide 77: Cooperation and partnership
Cooperation and partnership Utilise the potential for cooperation internally and externally Increase the value of existing products and solutions and create new business opportunities by better cooperation and partnership: • Partnership for innovation • Joint strategies for cooperation and concepts
Slide 78: Leadership, competence and organisation
Leadership, competence and organisation Ensure an organisation with competence and capacity to fulfil the strategy The bank needs to be an attractive employer for a diverse set of future and current employees, with relevant and strong competence: • Action plan to stand out as an attractive employer
Slide 79: Profitable growth
Profitable growth Ensure competitive returns Profitable growth is the foundation for providing value added for owners and the local community: • Strengthen efforts in growth segments and geographic areas • Continued focus on capital-light cross sales • Strengthen measures and resources for customer
Slide 80: Contact details
Richard Heiberg CEO +47 902 06 018 richard.heiberg@sb1ostlandet.no Contact details Geir-Egil Bolstad CFO +47 918 82 071 geir-egil.bolstad@sb1ostlandet.no investor@sb1ostlandet.no Bjørn-Erik R. Orskaug Head of Investor Relations +47 922 39 185 bjorn-erik.orskaug@sb1ostlandet.no 80
Slide 81: Disclaimer
Disclaimer This presentation contains forward-looking statements that reflect management’s current views with respect to certain future events and potential financial performance. Although SpareBank 1 Østlandet believes that the expectations reflected in such forward-looking statements are reasonabl
SpareBank 1 Østlandet — Q1 2022 Earnings Presentation on 6ix