Sparebanken Ost · OSL:SPOG

Sparebanken Ost — Sparebanken Øst Boligkreditt AS — Debt Investor Presentation (June 2017)

13 slides from Sparebanken Ost's debt investor presentation, Jun 30, 2017

  1. Slide 1: Sparebanken Øst Boligkreditt AS Investor presentation

    Sparebanken Øst Boligkreditt AS Investor presentation 30.06.2017 Frode Lindbeck

  2. Slide 2: Sparebanken Øst group

    Sparebanken Øst group • Savings bank established 1843 • Head office in Drammen, 25 branches • Total assets 36.7 bn. NOK (≈€3.9 bn.) • Moody’s rating bank: A3/P-2 stable • Equity instrument «SPOG» Oslo Stock Exchange • Group figures Q2 2017 – After tax ROE 11.5 % – CAR / CET1 21.1 % / 17.1 % 2 Frode

  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 June 30th 2017 unless otherwise stated Gyldenløv

  4. Slide 4: Summary Q2 2017

    Summary Q2 2017 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 30.06.17

    Sparebanken Øst Boligkreditt AS 30.06.17 Rating Aaa (Moody’s) Total assets in the cover pool 11 099 MNOK Outstanding covered bonds 9 679 MNOK OC 14.7 % Type of collateral 100 % 1st-lien residential properties Floating rate loans 100 % Weighted average LTV 44.5 % Number of loans 7 358 Average loan ba

  6. Slide 6: Property type

    Property type Semi detached 10 % Apartment 27 % Detached house 63 % Frode Lindbeck

  7. Slide 7: Property type

    Property type Private ownership 86,7 % Share in housing association 13,3 % Semi Detached Detached House Other 2,5 % Semi Detached Other 13,7 % 0,0 % 8,9 % 0,0 % Apartment 19,7 % Detached House 71,4 % Apartment 81,3 % Frode Lindbeck

  8. Slide 8: Regional distribution of Cover Pool

    Regional distribution of Cover Pool SHARE OF LOAN BALANCE 0% 5% 10 % 15 % 20 % 25 % 30 % Buskerud 27,8 % Oslo 24,1 % Akershus 22,5 % Rogaland/Hordaland 8,6 % Vestfold 7,0 % Østfold 4,2 % Northwest/Trøndelag 2,6 % Telemark/Agder 1,4 % Hedmark/Oppland 1,1 % Nordland/Troms/Finmark 0,7 % Distribution co

  9. Slide 9: Seasoning

    Seasoning 4.000 MNOK 3.500 3.000 2.500 2.000 1.500 1.000 500 0 0-1 1-3 3-5 5-10 10+ Years • Weighted average seasoning: 3.99 years • Approx. 55 % of the cover pool is >3 years seasoned Frode Lindbeck

  10. Slide 10: Loan to Value

    Loan to Value MNOK 3.000 2.500 2.000 1.500 1.000 500 0 0- 10- 20- 30- 40- 50- 60- 70- Over 10% 20% 30% 40% 50% 60% 70% 75% 75% • Weighted average LTV = 44.6 % • Approx. 82 % of the cover pool has an LTV < 60 % Frode Lindbeck

  11. Slide 11: Issued Covered Bonds

    Issued Covered Bonds ISIN TICKER INT. ISSUED MATURITY CURR. AMOUNT COUPON Mill. NOK NO0010623986 SPOBK04PRO FRN 22.08.11 22.02.18* NOK 231 NIB3+55 NO0010625908 SPOBK06 FIXD 05.10.11 05.10.26* NOK 750 4,55 % NO0010682099 SPOBK08 FRN 10.06.13 11.06.19* NOK 300 NIB3+42 NO0010703051 SPOBK09 FIXD 05.02.1

  12. Slide 12: Overcollateralization

    Overcollateralization RESIDENTIAL MORTGAGES INCL. SUBSTITUTE COLLATERAL COVERED BONDS OVER-COLLATERALIZATION 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 % Q3-16 10.145.447 8.623.730 18 % Q4-16 9.409.134 8.164.360 15 % Q1-17 11.329.739 9.982.670 13 % Q

  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 Vegard Kvamme +47 977 00 370 Vegard.kvamme@oest.no Frode Lindbeck

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