SpareBank 1 Nord-Norge increase lending rate

The regulatory authorities warn of stricter requirements for capital adequacy for Norwegian banks. Concurrently the authorities are signaling a powerful increase of risk weighting of mortgages, with effect both for existing and new mortgages issued by Norwegian banks.

With this as its starting point SpareBank 1 Nord-Norge will increase its collected lending rates for retail, business and agricultural customers.

With regards to the bank`s mortgage customers the adjustment of variable interest loans will lead to an increase of up to 0.30%. The changes will apply for new mortgages from the 12th of March and for existing mortgages from the end of April.

Tromsø 12th March 2013

For further information contact the following;

Director of Communications Stig-Arne Engen, tel. 913 60 990
CFO Rolf-Eigil Bygdnes, tel. 905 19 774

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.