Sparebanken Ost · OSL:SPOG

Sparebanken Ost — Sparebanken Øst Boligkreditt AS — Debt Investor Presentation (December 2013)

13 slides from Sparebanken Ost's debt investor presentation, Dec 31, 2013

  1. Slide 1: Sparebanken Øst Boligkreditt AS Investor presentation

    Sparebanken Øst Boligkreditt AS Investor presentation 31.12.2013 Frode Lindbeck

  2. Slide 2: Sparebanken Øst group

    Sparebanken Øst group • Savings bank established 1843 • Head office in Drammen, 23 branches • Total assets 31.1 bn. NOK (≈€3.7 bn.) • Moody’s rating bank: A3/P-2 stable • Equity instrument «SPOG» Oslo Stock Exchange • Q4 2013 – After tax ROE 12.5% – CAR / Tier 1 18.4% / 15.8% 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 2013 unless otherwise stated Gylde

  4. Slide 4: Summary Q4 2013

    Summary Q4 2013 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 31.12.13

    Sparebanken Øst Boligkreditt AS 31.12.13 Rating Aaa (Moody’s) Total assets in the cover 7 410 MNOK pool Outstanding covered bonds 6 394 MNOK Nominal OC 15,9 % Type of collateral 100 % 1st prio. residential properties Floating rate loans 100 % Weighted average LTV 47,0 % Number of loans 6 663 Average

  6. Slide 6: Property type

    Property type Frode Lindbeck

  7. Slide 7: Property type

    Property type Frode Lindbeck

  8. Slide 8: Regional distribution of Cover Pool

    Regional distribution of Cover Pool SHARE OF LOAN BALANCE 0% 10 % 20 % 30 % 40 % Buskerud 35,2 % Oslo 20,2 % Akershus 20,0 % Vestfold 7,7 % Rogaland/Hordaland 7,4 % Østfold 3,9 % Northwest/Trøndelag 2,2 % Telemark/Agder 1,6 % Hedmark/Oppland 1,0 % Nordland/Troms/Finmark 0,7 % Distribution concentrat

  9. Slide 9: Seasoning

    Seasoning MNOK 3.500 3.000 2.500 2.000 1.500 1.000 500 1.310 2.889 1.521 1.362 328 0 0-1 1-3 3-5 5-10 10+ Years • Weighted average seasoning: 3.57 years • Approx. 43% of the cover pool is >3 years seasoned Frode Lindbeck

  10. Slide 10: Loan to Value

    Loan to Value 1.800 MNOK 1.600 1.400 1.200 1.000 800 600 400 200 161 464 793 1.047 1.295 1.385 1.690 576 0 0-10% 10- 20- 30- 40- 50- 60- 70- 20% 30% 40% 50% 60% 70% 80% • Weighted average LTV = 47.0% • Approx. 69% of the cover pool has an LTV < 60% Frode Lindbeck

  11. Slide 11: Issued Covered Bonds

    Issued Covered Bonds 11 Frode Lindbeck

  12. Slide 12: Overcollateralization

    Overcollateralization Frode Lindbeck

  13. Slide 13: 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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