Bank 1 Oslo AS becomes directly owned by SpareBank 1-banks and the Norwegian Confederation of Trade Unions (LO)

Bank 1 Oslo AS will be separated from SpareBank 1 Gruppen AS, and become an independent commercial bank, directly owned by the SpareBank 1-banks and LO.
SpareBank 1 SR-Bank, SpareBank 1 SMN, SpareBank 1 Nord-Norge and Samarbeidende Sparebanker AS will acquire 19,5 % of the shares in Bank 1 Oslo AS. Sparebanken Hedmark and the Norwegian Confederation of Trade Unions (LO) / affiliated trade unions will aquire 12 % and 10 % respectively.
Bank 1 Oslo AS has until now been a fully owned subsidiary of SpareBank 1 Gruppen AS.
According to the schedule, change of ownership will have effect from 1 January 2010.
Further information can be found in today's press release from SpareBank 1-Gruppen.
Contact persons at SpareBank 1 SR-Bank
Group Communications Director, Thor-Christian Haugland, tel. +47 480 31633
Investor Relations Manager Kyrre M. Knudsen, + 47 938 83 518

About Us

SpareBank 1 SR-Bank is Norway’s second largest savings bank and operates in the Rogaland, Agder and Hordaland markets. We provide financial products and services, including loans and deposits, mutual funds and asset management, insurance and pension savings, payment and financing services, real estate brokerage and services related to the money and capital market. The head office is in Stavanger.