SpareBank 1 SR-Bank (SRBANK): Adjusted Pillar 2 requirement after evaluation, SREP 2018

The Financial Supervisory Authority of Norway has completed its evaluation of SpareBank 1 SR-Bank's risk and capital adequacy process, SREP, for 2018. The Pillar 2 requirement for SpareBank 1 SR-Bank stands at 1,7 % of the risk-weighted balance. This is a reduction from 2 % required in 2016.

The Pillar 2 requirements are connected to risk factors that are not captured by the Pillar 1 requirements and must therefore be covered by pure core capital. The requirement for pure core capital for SpareBank 1 SR-Bank after this announcement will be 13.7 %. In addition to this SpareBank 1 SR-Bank will hold a management margin about 1 % above the capital requirement.

SpareBank 1 SR-Bank had a pure core capital ratio of 14.7 % at the end of September 2018, including 50 percent of the interim profits. SpareBank 1 SR-Bank therefore considers itself to be within the regulatory requirements in relation to capital adequacy. Revised CET 1 target for SpareBank 1 SR-Bank will be presented together with the release of preliminary annual 2018 accounts on 8 February 2019. 

This information is disclosed in compliance with section 5-12 of the Securities Trading Act.

Stavanger, 27 December 2018

Contact persons:
Inge Reinertsen, CFO, Tel. +47 909 95 033
Stian Helgøy, Vice President Investor Relations, Tel. +47 906 52 173
Thor-Christian Haugland, CCO, Tel. +47 480 31 633