SPAREBANK 1 SR-BANK ASA 21 Jun 2024 08:00 CEST
SpareBank 1 SR-Bank ASA
Reference is made to the stock exchange notice dated 5 December 2023 stating
that the General Meeting in SpareBank 1 SR-Bank ASA and the Supervisory Board in
SpareBank 1 Sørøst-Norge have approved the merger of the two banks, as well as
the notice dated 17 April 2024 stating that the Norwegian Competition Authority
has cleared the transaction.
On 20 June 2024, the Financial Supervisory Authority of Norway (Finanstilsynet)
granted the necessary permits to carry out the merger between SpareBank 1
SR-Bank ASA and SpareBank 1 Sørøst-Norge in accordance with the decisions made
by the banks' General Meeting/Supervisory Board on 5 December 2023.
The permits were granted on certain conditions, including the following:
(i) Sparebankstiftelsen SR-Bank, SpareBank 1 Stiftelsen BV, and
Sparebankstiftelsen Telemark must at all times have a combined ownership stake
in the merged bank that is equal to or higher than 33.4 percent of the share
capital and voting rights in the bank.
(ii) The merged bank (SpareBank 1 Sør-Norge ASA) will continue its savings bank
operations with local presence in Telemark, Vestfold, Buskerud, and Rogaland.
(iii) After the merger, and until the Financial Supervisory Authority has
determined new pillar 2 requirements, the merged bank (SpareBank 1 Sør-Norge
ASA) will have an increased capital requirement (pillar 2 requirement) of 1.9
percentage points of the consolidated risk weighted assets according to the
Financial Institutions Act § 14-2, in addition to the temporary surcharge of 0.5
percentage points for the IRB portfolio of SpareBank 1 SR-Bank ASA. The merged
bank (SpareBank 1 Sør-Norge ASA) will have a capital requirement margin of 1.25
percent.
Certain additional conditions were also imposed.
Of the authority approvals, tax relief from the Ministry of Finance and final
approval from the Norwegian Financial Supervisory Authority of the necessary
changes to the articles of association of the owner foundations remain.
The planned implementation date is still 1 October 2024.
Contact persons:
SpareBank 1 SR-Bank ASA
CEO: Benedicte Schilbred Fasmer, tel. +47 950 60 034
CFO: Inge Reinertsen, tel. +47 909 95 033
Financial director: Morten Forgaard, tel. +47 916 21 425
SpareBank 1 Sørøst-Norge
CEO: Per Halvorsen, tel. +47 934 07 441
CFO: Roar Snippen, tel. +47 976 10 360
Head of treasury: Mona Storbrua, tel. +47 916 39 833
More information:
Access the news on Oslo Bors NewsWeb site
SpareBank 1 SR-Bank ASA
Oslo Børs Newspoint
SPAREBANK 1 SR-BANK, Spb 1 SR-Bank ASA 17/29 FRN C SUB, Spb 1 SR-Bank ASA 19/25 1,95%, Spb 1 SR-Bank ASA 19/24 FRN, Spb 1 SR-Bank ASA 19/24 2,04%, Spb 1 SR-Bank ASA 20/26 1.30 per cent, Spb 1 SR-Bank ASA 20/26 FRN, Spb 1 SR-Bank ASA 21/25 1.86pct, Spb 1 SR-Bank ASA 21/25 FRN, Spb 1 SR-Bank ASA 22/28 4.60pct, Spb 1 SR-Bank ASA 19/PERP FRN C HYBRID, Spb 1 SR-Bank ASA 20/27 FRN C, Spb 1 SR-Bank ASA 21/28 FRN, Spb 1 SR-Bank ASA 21/28 2.20 pct, Spb 1 SR-Bank ASA 22/27 3.90pct, Spb 1 SR-Bank ASA 22/27 FRN, Spb 1 SR-Bank ASA 22/28 FRN, Spb 1 SR-Bank ASA 22/25 FRN, Spb 1 SR-Bank ASA 22/28 5.175pct, Spb 1 SR-Bank ASA 23/34 FRN C SUB, Spb 1 SR-Bank ASA 23/33 FRN C SUB, Spb 1 SR-Bank ASA 23/PERP ADJ C HYBRID, Spb 1 SR-Bank ASA 23/PERP FRN C HYBRID, Spb 1 SR-Bank ASA 23/PERP FRN HYBRID, Spb 1 SR-Bank ASA 24/34 ADJ C SUB, Spb 1 SR-Bank ASA 24/29 FRN, Spb 1 SR-Bank ASA 24/29 4,81%, Spb 1 SR-Bank ASA 24/34 4,35%, Spb 1 SR-Bank ASA 24/36 ADJ C SUB, Spb 1 SR-Bank ASA 24/PERP ADJ C HYBRID
NO0010631567, NO0010802382, NO0010861073, NO0010861636, NO0010860562, NO0010907850, NO0010907843, NO0011112864, NO0011110207, NO0012708777, NO0010856164, NO0010866635, NO0010907421, NO0010968514, NO0010966237, NO0012552324, NO0012750761, NO0012755828, NO0012747866, NO0012757642, NO0012757659, NO0012839036, NO0012839028, NO0012839010, NO0012945296, NO0012945304, NO0013012534, NO0013012542, NO0013105163, NO0013150227, NO0013163477, NO0013163485, NO0013182816, NO0013190975, NO0013228429
SRBNK
Oslo BørsNordic Alternative Bond Market
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SpareBank 1 SR-Bank ASA published this content on 21 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 June 2024 06:06:09 UTC.
