July 30, 2016 8:03 PM ET

Banks

Company Overview of SpareBank 1 SR-Bank

Company Overview

SpareBank 1 SR-Bank ASA, together with its subsidiaries, provides a range of financial services for personal and corporate customers in Southern and Western Norway. The company offers its products and services in the areas, such as loans, savings, advice, insurance, and pensions. It‘s activities also include own account and customer trading in interest rate instruments, foreign exchange, and equities; and provides advice and facilitates debt and equity funding, as well as administrative securities services. In addition, the company sells real estate properties comprising commercial real estate, holiday homes, new builds, and existing homes, as well as provides brokerage services; offers leas...

Bjergsted Terrasse 1

PO Box 250

Stavanger,  4066

Norway

Founded in 1839

1,194 Employees

Fax:

47 51 57 12 60

Key Executives for SpareBank 1 SR-Bank

Chief Executive Officer
Age: 60
Total Annual Compensation: 4.1M NOK
Chief Financial Officer
Total Annual Compensation: 2.4M NOK
Executive Vice President of Corporate Market
Total Annual Compensation: 2.4M NOK
Executive Vice President of Retail Market
Total Annual Compensation: 2.3M NOK
Vice President of Investor Relations
Total Annual Compensation: 1.7M NOK
Compensation as of Fiscal Year 2015.

SpareBank 1 SR-Bank Key Developments

SpareBank 1 SR-Bank Announces Board Changes

On 9 June 2016 the Supervisory Board elected Dag Mejdell as chairman of the Board of Directors in SpareBank 1 SR-Bank ASA. Jorunn Johanne S-thre was elected as a new board- member. Kristian Kristensen was elected as board-member to represent the employee and Frode Solheim was elected as deputy board member to represent the employee. All were elected for a period of 2 years.

SpareBank 1 SR-Bank ASA Announces Dividend, Payable on May 6, 2016

SpareBank 1 SR-Bank ASA announced that the company’s shares will be traded ex dividend NOK 1.50 as from 28 April 2016. The dividend will be paid on 6 May 2016.

SpareBank 1 SR-Bank ASA Reports Group Earnings Results for the First Quarter Ended March 31, 2016; Reports Impairment Losses on Loans and Guarantees for the First Quarter Ended March 31, 2016

SpareBank 1 SR-Bank ASA reported group earnings results for the first quarter ended March 31, 2016. For the quarter, the bank reported net interest income of NOK 698 million against NOK 627 million a year ago. Total income was NOK 1,129 million against NOK 1,246 million a year ago. Operating profit before tax was NOK 487 million against NOK 628 million a year ago. Profit after tax from continuing operations was NOK 386 million against NOK 496 million a year ago. Return on equity was 9.0% against 12.7% a year ago. Earnings per share were NOK 1.51 against NOK 1.94 a year ago. For the quarter, the company reported impairment losses on loans and guarantees of NOK 150 million against NOK 88 million a year ago.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 14, 2015
Bank 1 Oslo Akershus AS
 

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