Finanstilsynet (FSA) recommends that SpareBank 1 SR-Bank can be converted to ASA

Finanstilsynet (FSA) has on the 17th of March 2011 recommended the Ministry of Finance to grant SpareBank 1 SR-Bank permission to convert to a limited liability company (ASA) and the establishment of the "Savings Bank Foundation SpareBank 1 SR-Bank" which will receive the shares not allocated to owners of the equity certificates.

Please also refer to press release from the FSA dated 18th of March 2011.
The Supervisory Board of SpareBank 1 SR-Bank decided unanimously on the 25th of November 2010 to apply the authorities for such a permit.


The bank's strong development over many years has been crucial to provide the region's companies and consumers with necessary capital for corporate and housing purposes. A profitable and financially sound bank with good access to both equity and debt, will be of great importance for continued growth and development in the region.

The final permit is conditioned upon approval from the Ministry of Finance.

Stavanger, 18th of March 2011

For further details, please contact:
Arne Austreid, Chief Executive Officer, phone +47 900 77 334
Inge Reinertsen, Chief Financial Officer, phone + 47 909 95 033
Thor-Christian Haugland, Executive Vice President Communications, phone +47 480 31 633
Vidar Torsøe, Vice President, Investor Relations, phone +47 970 80 656