SpareBank 1 SR-Bank ASA raising mortgage rates

Norges Bank has raised the policy rate to reduce the risk of inflation remaining high and the need for a sharper tightening of monetary policy further out.

“In light of Norges Bank raising its key policy rate to cool down the inflation in the Norwegian economy, and the continuing rise of the bank’s borrowing costs, SpareBank 1 SR-Bank is raising its mortgage rates by up to 0.50 percentage points,” says Roger Lund Antonesen, Executive Vice President Retail Market.

Unemployment rates are historically low whilst the Norwegian economy is being affected by inflationary pressures, both national and global. It is uncertain how the Norwegian economy will develop in the period ahead, although it has been announced that the key policy rate will be raised several times to cool the economy going forward.

SpareBank 1 SR-Bank’s new terms will apply to new loans from 27 June and to existing loans from 8 August 2022. All mortgage customers will receive a letter in their online bank or by mail containing information about how the changes in terms will affect their loans.

Stavanger, 24 June 2022.

Contact people:

Roger Lund Antonesen, Executive Vice President Retail Market, Tel. +47 976 61 221

Stian Helgøy, Vice President Investor Relations, Tel. +47 906 52 173

Øyvind Knoph Askeland, Director of communications, Tel. +47 922 32 639

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