Sparebank 1 SR-Bank and Sparebank 1 Sørøst-Norge merge and form a new banking giant – news Rogaland – Local news, TV and radio

The group will become Norway’s largest savings bank, with approximately 2,300 employees spread over 65 offices in southern Norway, the banks write in a press release. They will have assets under management of around NOK 500 billion, and approximately NOK 375 billion in total lending to individuals and businesses. SpareBank 1 Sør-Norge will also have leading positions in real estate and accounting services, with annual turnover of NOK 640 and 500 million respectively. Current CEO Benedicte Schilbred Fasmer of Sparebank 1 SR-Bank will become CEO of SpareBank 1 Sør-Norge ASA, while current CEO of SpareBank 1 Sørøst-Norge, Per Halvorsen, will become deputy CEO. Benedicte Schilbred Fasmer in Sparebank 1 SR-Bank. Photo: Stig B. Fiksdal / DnB The group will have its head office in Stavanger. The size counts Implementation of the merger requires approval of the merger plan by the general meeting of SpareBank 1 SR-Bank and the supervisory board of SpareBank 1 Sørøst-Norge, and is subject to approval by the authorities. – In the banking industry, size and scale are important. We can increase overall lending to business. We have greater leverage for local businesses, says Fasmer of Sparebank 1 SR-Bank to news. – We make a living by taking risks. Now we are also becoming a more solid bank. Becoming a significant player outside Oslo She believes that customers will notice the merger in a positive way. – Customers will notice that we have greater power to contribute to sustainable development for both companies and people, she says. – Will there be better loan terms for personal customers ?- Loans are only one element of what you have a dialogue with the bank about. We are good at consulting. Some of what we can contribute to our customers is mostly about competence and making it easy in everyday life for our customers both digitally and with good advice. According to Fasmer, much of the operation goes on as before. – Now it is business as usual. Now we will consolidate our position as Norway’s largest savings bank and second largest bank. And become a good challenger to Nordic commercial banks. And then it’s a bit of fun to be able to be a powerful player with headquarters outside the capital. The banks invite you to a press conference in Oslo at 10 am.



ttn-69