Very strong return on equity in the 4th quarter: 12.9 %. Strong development in core banking operations, but net financials were also positive.
Solid growth in net interest income (including com- mission income from transferred loans): Up 24.4 % y/y (10.5 % q/q), from repricing and volume growth. Lending growth of 8.7 % y/y (1.1 % q/q).
Net commission income (excl. transferred loans): Growth of 2.5 % y/y (0.2 % q/q). The reorganization of accounting operations in 3Q had a negative income impact, along with lower income from real estate brokerage. Good growth in other commission income.
Net financials: Positive contribution of NOK 172 mill., due largely to ownership contributions of NOK 113 mill. and positive net contribution from other financial items of NOK 46 mill.
Operating expenses: Down 2.6 % y/y, due particularly to lower cost base in SpareBank 1 ForretningsPartner Østlandet AS and lower commission-based pay of real estate brokers. Cost growth in parent bank of 6.1 % y/y in 2022.
Loan losses: Impairment charges of NOK 63 mill., of which NOK 38 mill. were model-based provisions.
Capital adequacy: CET-1ratio of 17.7 % (18.2 % in 3Q-
22). Lower ratio due to dividends, negative basis swap effects, and higher risk-weighted assets.
Dividends: Board proposes to Supervisory Board a cash dividend of NOK 6.80 per ECC, equivalent to 60 % of the majority's share of the consolidated profit. Customer dividend and provisions for donations of NOK 306 mill. and 31 mill., respectively.
Investor relations
Geir-Egil Bolstad
CFO
+47 918 82 071 geir-egil.bolstad@sb1ostlandet.no
Please contact us for conference calls or other enquiries.
Financial performance in 2022
ROE 10.5 % (vs. long term target ≥ 11 %)
Proposed dividend of NOK 6.80/ECC for 2022*
CET-1of 17.7 % (vs. target of regulatory requirement + 100 bps., equiv. to 16.3% in 4Q-22)
Cost growth in parent bank +6.1 % (vs. target of within 4 %)
*2022 dividend decision will be made by the Supervisory Board on 30 March 2023
Presentation and resources
Published accounts and presentation 4Q-2022
Oslo Stock Exchange - Company Announcement
Investor homepage and webcast 4Q 2022 (English)
Bjørn-Erik Orskaug
Investor relations
+47 922 39 185 bjorn-erik.orskaug@sb1ostlandet.no
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Sparebank 1 Østlandet published this content on 10 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 February 2023 06:59:02 UTC.
Sparebank 1 Ostlandet is a Norway-based savings bank. It is a part of SpareBank 1 alliance of regional savings banks and offers services for companies and private customers. The Bank offers loans, saving account, pension savings, mobile and online bank services, card issue, health and property insurance among others. The Bank is a subsidiary of Sparebankstiftelsen Hedmark.
SPAREBANK 1 ØSTLANDET 
