Sparebanken Ost · OSL:SPOG
Sparebanken Ost — Sparebanken Øst Boligkreditt AS — Debt Investor Presentation (June 2012)
13 slides from Sparebanken Ost's debt investor presentation, Jun 30, 2012
Slide 1: Sparebanken Øst Boligkreditt Investor presentation
Sparebanken Øst Boligkreditt Investor presentation 30.06.12
Slide 2: Sparebanken Øst group
Sparebanken Øst group • Savings bank established 1843 • Head office in Drammen, 20 branches • Total assets 28.8 bn. NOK (≈€3.8 bn.) • Moody’s rating bank: A3/P-2 stable • Equity instrument «SPOG» Oslo Stock Exchange • Q2 2012 – After tax ROE 13.2% – CAR / Tier 1 14.9% / 13.4% 2
Slide 3: Sparebanken Øst Boligkreditt AS
Sparebanken Øst Boligkreditt AS • Established 14. April 2009 • Fully owned subsidiary of Sparebanken Øst • Moody’s assigns Aaa rating to Sparebanken Øst Boligkreditt’s mortgage covered bonds March 1st 2011 – All figures in the following presentation are as at June 30th 2012 unless otherwise stated G
Slide 4: Summary Q2 2012 Sparebanken Øst Boligkreditt AS
Summary Q2 2012 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 31.03.12
Sparebanken Øst Boligkreditt AS 31.03.12 Rating Aaa (Moody’s) Total assets in the cover 7 233 MNOK pool Outstanding covered 6 348 MNOK bonds Nominal OC 14 % 100 % 1st prio. residential Type of collateral properties Floating rate loans 100 % Weighted average LTV 46.4 % Number of loans 7 194 Average l
Slide 6: Property type
Pro pe rty type Semi detached 7% Netto « =§ tb wait TTL L 5 kroner; c s S = S Sparebanken Ost kvartal
Slide 7: Property type
Property type • Total cover pool size: MNOK 7 233 • Loans are 100% 1.-priority Norwegian residential mortgages • Loan type: 100% adjustable rate mortgages
Slide 8: Regional distribution of Cover Pool
Regional distribution of Cover Pool SHARE OF LOAN BALANCE 0,0 % 10,0 % 20,0 % 30,0 % 40,0 % 50,0 % Buskerud 42,0 % Akershus 19,7 % Oslo 17,0 % Vestfold 7,4 % Rogaland/Hordaland 5,1 % Østfold 3,4 % Northwest/Trøndelag 2,0 % Telemark/Agder 1,7 % Nordland/Troms/Finmark 0,9 % Hedmark/Oppland 0,7 % • Dis
Slide 9: Seasoning
Seasoning 3.500 MNOK 3.000 2.500 2.000 1.500 1.000 500 1.462 2.888 1.132 1.394 356 0 0-1 1-3 3-5 5-10 10+ Years • Weighted average seasoning: 3.5 years • Approx. 40% of the cover pool is >3 years seasoned
Slide 10: Loan to Value
Loan to Value 2.000 MNOK 1.800 1.600 1.400 1.200 1.000 800 600 400 200 104 435 775 1.101 1.358 1.525 1.826 109 0 0-10% 10- 20- 30- 40- 50- 60- 70- 20% 30% 40% 50% 60% 70% 80% • Weighted average LTV = 46,4% • Approx. 73% of the cover pool has an LTV < 60% • There are none non-performing or impaired l
Slide 11: Issued Covered Bonds
Issued Covered Bonds TICKER INT. MATURITY | CURR. | AMOUNT | COUPON Mill. NOK NO0010520372 NO0010572464 NO0010589955 NOQ0010604879 NO0010623986 NO0010625858 NO0010625908 NO0010640709 SPOBKO1PRO SPOBKO2PRO SPOBKO3PRO SPOBKO4PRO SPOBKO5PRO SPOBKO6PRO SPOBKO7PRO % Sparebanken Ost FRN FRN FRN FRN FIXD F
Slide 12: Overcollateralization
Overcollateralization RESIDENTIAL OVER- MORTGAGES COVERED BONDS COLLATERALIZATION 4Q10 2.830.329 2.450.000 16% 1Q11 4.015.341 3.450.000 16% 2Q11 4.893.175 4.250.000 15% 3Q11 6.040.633 4.750.000 27% 4Q11 6.715.542 5.650.000 19% 1Q12 7.305.133 6.347.880 15% 2Q12 7.232.891 6.347.610 14% Netto» » pEB as
Slide 13: Sparebanken Øst Boligkreditt AS contact details
Sparebanken Øst Boligkreditt AS Phone:+47 915 03220 P.O.Box 54 Fax: +47 3288 3712 3001 Drammen www.oest.no Norway firmapost@oest.no CEO Lars-Runar Groven +47 9020 0224 larsrunar.groven@oest.no Investor / Funding Contact Vegard Kvamme / Frode Lindbeck +47 9770 0370 / +47 9172 4891 vegard.kvamme@oest.
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