Sparebanken Ost · OSL:SPOG

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

12 slides from Sparebanken Ost's debt investor presentation, Sep 30, 2013

  1. Slide 1: Sparebanken Øst Boligkreditt AS Investor presentation

    Sparebanken Øst Boligkreditt AS Investor presentation 30.09.2013 Frode Lindbeck

  2. Slide 2: Sparebanken Øst group

    Sparebanken Øst group • Savings bank established 1843 • Head office in Drammen, 21 branches • Total assets 30.3 bn. NOK (≈€3.7 bn.) • Moody’s rating bank: A3/P-2 stable • Equity instrument «SPOG» Oslo Stock Exchange • Q3 2013 – After tax ROE 13.1% – CAR / Tier 1 15.0% / 14.2% 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 September 30th 2013 unless otherwise stated Gyld

  4. Slide 4: Summary Q3 2013

    Summary Q3 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 30.09.13

    Sparebanken Øst Boligkreditt AS 30.09.13 Rating Aaa (Moody’s) Total assets in the cover pool 7 744 MNOK Outstanding covered bonds 5 891 MNOK Nominal OC 31.4 % Type of collateral 100 % 1st prio. residential properties Floating rate loans 100 % Weighted average LTV 46.7 % Number of loans 7 056 Average

  6. Slide 6: Property type

    Property type Semi detached Other 7% 0% Condominium 26 % Detached house 67 % Frode Lindbeck

  7. Slide 7: Regional distribution of Cover Pool

    Regional distribution of Cover Pool SHARE OF LOAN BALANCE 0% 10 % 20 % 30 % 40 % Buskerud 37,3 % Akershus 19,6 % Oslo 19,0 % Vestfold 7,9 % Rogaland/Hordaland 6,7 % Østfold 4,1 % Northwest/Trøndelag 2,1 % Telemark/Agder 1,6 % Hedmark/Oppland 0,9 % Nordland/Troms/Finmark 0,8 % Distribution concentrat

  8. Slide 8: Seasoning

    Seasoning 4.000 MNOK 3.500 3.000 2.500 2.000 1.500 1.000 500 1.220 3.442 1.329 1.425 328 0 0-1 1-3 3-5 5-10 10+ Years • Weighted average seasoning: 3.50 years • Approx. 40% of the cover pool is >3 years seasoned Frode Lindbeck

  9. Slide 9: Loan to Value

    Loan to Value MNOK 2.500 2.000 1.500 1.000 500 131 456 845 1.107 1.413 1.515 2.146 131 0 0-10% 10- 20- 30- 40- 50- 60- 70- 20% 30% 40% 50% 60% 70% 80% • Weighted average LTV = 46.7% • Approx. 71% of the cover pool has an LTV < 60% Frode Lindbeck

  10. Slide 10: Issued Covered Bonds

    Issued Covered Bonds ISIN TICKER INT. ISSUED MATURITY CURR. AMOUNT COUPON Mill. NOK NO0010520372 - FRN 15.06.09 15.09.14* NOK 210 NIB3+45 NO0010572464 SPOBK01PRO FRN 21.05.10 21.05.15* NOK 1 000 NIB3+65 NO0010589955 SPOBK02PRO FRN 18.10.10 18.10.16* NOK 1 000 NIB3+57 NO0010604879 SPOBK03PRO FRN 16.0

  11. Slide 11: Overcollateralization

    Overcollateralization RESIDENTIAL OVER- MORTGAGES COVERED BONDS COLLATERALIZATION Q1-12 7.305.133 6.347.880 15 % Q2-12 7.232.891 6.347.610 14 % Q3-12 7.273.701 6.351.660 15 % Q4-12 8.298.865 6.346.470 31 % Q1-13 7.438.869 6.359.040 17 % Q2-13 7.847.655 6.859.490 14 % Q3-13 7.743.851 5.891.160 31 % F

  12. 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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