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Sbanken ASA (0RD6.L)

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1,591,650,048.00+60.52 (+0.00%)
At close: 6:07PM EDT
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  • Globe Newswire

    Sbanken ASA: Trade subject to notification

    On behalf of Sbanken ASA, DNB Markets has on 23 July 2020 purchased 2 460 shares for use in Sbanken's share purchase programme for executive managers and board members. The shares acquired 23 July 2020 have been acquired at an average price of NOK 68.2638 per share.Before distribution to the employees and executive managers, Sbanken has 77 649 own shares. A total of 85 020 shares were allotted today, 23 July 2020, at a gross price of NOK 67.8303 per share, equivalent to the average price of shares acquired from 20 July to 23 July. The share purchase programme include a share price discount of 20 per cent and is subject to a three-year lock-up period. Simultaneously, executive managers and board members have sold a total of 7 371 shares at a price of NOK 67.8303. Sbanken ASA is counterparty for the settlement of shares.Following the transaction, executive managers and board members significantly increased their holding in Sbanken ASA. This includes chair of the board, Niklas Midby, who with related parties now own 77 776 shares in Sbanken ASA, an increase of 29 485 shares.Please find a list of primary insiders of Sbanken ASA that have bought and sold shares, and their total shareholding enclosed. Contact details, Investor Relations: Jesper M. Hatletveit, Head of IR, Sbanken ASA, +47 959 40 045 Henning Nordgulen, CFO, Sbanken ASA, +47 952 65 990 This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading ActAttachment * Primary insiders transaction

  • Globe Newswire

    Sbanken ASA: Initiating repurchase of shares for executive managers and board members

    Sbanken ASA offers a share purchase program for executive managers and board members where shares are offered at a price including a 20 per cent discount and is subject to a three-year lock-up period.Subscription amount in the program can until 31 December 2022 not exceed: * NOK 5 million for the CEO * NOK 4 million for the CFO * NOK 3 million for other executive managers * NOK 2 million for the chair of the board * NOK 1 million for board membersFurther reference is made to the general meeting of 24. April 2020 where the company was granted approval to acquire shares at a price between NOK 10 and NOK 150 per share and up to an aggregate nominal value of NOK 32 million. The repurchasing of shares will be conducted in accordance with the applicable regulations of the Oslo Stock Exchange and the Norwegian Securities Trading Act. Contact details, Investor Relations: Jesper M. Hatletveit, Head of IR, Sbanken ASA, +47 959 40 045 Henning Nordgulen, CFO, Sbanken ASA, +47 952 65 990 This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act

  • Globe Newswire

    Sbanken ASA: Gaining market shares in mortgages and savings

    Bergen, 15 July. The Sbanken group generated a profit before tax of NOK 210.6 million in the second quarter of 2020. Net interest income increased by NOK 24.9 million, while net and fee commission fell by NOK 8.0 million compared to the second quarter of 2019. Return on equity for the quarter was 9.8 per cent. At quarter-end, total customer lending was NOK 84.4 billion, compared to NOK 79.9 billion at the end of the second quarter of 2019. Mortgages with an average loan-to-value of 52.9 per cent accounted for 94.8 of total customer lending.Highlights: · Gaining market share in mortgages – quarterly lending growth 1.6 per cent · Fund savings at NOK 17.0bn – market share increased to 7.1 per cent · Operating costs below guidance · Conservative balance sheet – 94.8 per cent mortgages with low LTV“This quarter, the bank has continued its growth momentum within mortgages and captured market share within fund savings. The financials we present for this quarter are however impacted by the COVID-19 pandemic. Net interest income was negatively affected by the timing of rate cuts, while net fee and commission income has fallen due to a drop in customers’ travel activity abroad. Our cost base is trending in the right direction, and we are starting to see the benefits of our cost initiatives, including the ongoing reduction in total workforce,” says Øyvind Thomassen, CEO of Sbanken.Net interest income increased to NOK 384.0 (359.1) million, supported by 2.1 per cent quarterly growth in mortgage lending, but was negatively affected as rate cuts were effectuated earlier for lending than for deposits. The net interest margin for the quarter was 1.51 per cent, compared to 1.57 per cent in the second quarter of 2020.Operating expenses amounted to NOK 170.0 million. The net cost of losses amounted to NOK 49.5 million, equivalent to a loan loss ratio of 0.24 per cent. Losses for unsecured credit were influenced by ECL model calibrations in light of updated macro assumptions.At the end of the quarter, Sbanken had a CET1 capital ratio of 15.9 per cent, 3.4 percentage points above the regulatory CET1 requirement of 12.5 per cent. In July, the Norwegian Ministry of Finance ruled in favour of Sbanken in its application to exempt the parents company from the leverage ratio buffer requirement, a decision which improves the group’s capital flexibility going forward.“The outlook for the Norwegian economy is showing clear signs of improvement with business activity picking up and unemployment levels falling. Going forward, we expects loss levels to decrease, and we will continue to capture market shares in mortgages and savings, in addition to bringing next level banking services to SMEs,” Thomassen concludes. The full interim report can also be found on sbanken.no/ir/ir-english/. Contact details,Investor Relations Jesper M. Hatletveit, Head of IR, Sbanken ASA, +47 959 40 045 Henning Nordgulen, CFO, Sbanken ASA, +47 952 65 990Media Contact Kristian K. Fredheim, Head of Communications, Sbanken ASA, +47 924 47 407 This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading ActAttachments * Sbanken ASA - Q2 2020 Report * Sbanken ASA - Q2 2020 Presentation

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