SpareBank 1 Nord-Norge reorganising and improving profitability

In response to increased digitisation and changes in customer behaviour, SpareBank 1 Nord-Norge has decided to reorganise the business to improve profitability within the group. Planned measures cover increased earnings, reduced costs and increased capital efficiency. The changes will result in over-staffing. The bank aims to address this by offering voluntary redundancy to the employees concerned, and has targeted that around 100 staff will accept the voluntary severance package. A net reduction of minimum 10 % in the number of FTEs in the parent bank in the course of 2015 and 2016 is expected.

The bank is making further provisions for restructuring measures in the third and fourth quarters of 2015. One-off costs and future profitability effects of the measures will be clarified during the fourth quarter of 2015.

SpareBank 1 Nord-Norge

Contacts:
CFO Rolf Eigil Bygdnes, mob. 905 19 774
CEO Jan-Frode Janson, mob. 909 75 183
Communications Director Geir Håvard Hanssen, mob. +47 950 52 001

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.

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