NONG - Finanstilsynet gives permission to establish the foundation "Sparebankstiftelsen SpareBank 1 Nord-Norge"

Finanstilsynet has granted permission to establish the foundation "Sparebankstiftelsen SpareBank 1 Nord-Norge." The foundation is established through a partly conversion (NOK 999,973) of the primary capital of SpareBank 1 Nord-Norge and the issuance of 32,226 new equity certificates that are to be transferred free of compensation to the foundation. The legal purpose of the foundation is to exercise a long-term ownership in SpareBank 1 Nord-Norge, manage the equity certificates it was granted in relation with the establishment of the foundation, and as far as possible participate in future equity issues in SpareBank 1 Nord-Norge. In addition, the foundation shall donate gifts for public benefit. For the fiscal years 2009 and 2010, SpareBank 1 Nord-Norge has allocated NOK 154.6 million that are to be donated to the foundation. The formal establishment and registration of the foundation will be in place during May 2011.

Contact person at SpareBank 1 Nord-Norge:
CEO Hans Olav Karde; mob +47 90 15 19 81
Legal officer Petter Høiseth; mob +47 41 50 50 35


This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

About Us

SpareBank 1 Nord-Norge is a leading provider of financial products and services in North-Norway. In addition to loans, deposits and payment transmission services, this also comprises most other savings products, as well as life- and non-life insurance products. Services and products are made available either by the bank and its subsidiaries, or through SpareBank 1 Gruppen AS's product companies.