Sparebanken Norge Q1 profit rises, capital ratio strengthens

Sparebanken Norge

30/04/2026 06:16

Overview

Norway savings bank's Q1 pretax profit reached NOK 2,112 mln, ROE at 16.1%

Corporate lending grew 2.1% in Q1, supported by strong credit demand

CET1 capital ratio rose to 18.1%, well above the bank's target of 15.9%

Outlook

Sparebanken Norge to provide further details on transformation programme at Capital Markets Day in August 2026

Result Drivers

CORPORATE LENDING GROWTH - Co said strong growth in corporate lending was driven by solid activity across industries and robust credit demand from corporate clients, per CEO Jan Erik Kjerpeseth

MERGER-RELATED COSTS - Co said Q1 results included significant merger-related costs and full synergy potential from 2025 mergers has not yet been realized, per CEO Jan Erik Kjerpeseth

CAPITAL POSITION - Co attributed strengthened CET1 capital ratio to quality of loan book and said it has sufficient capital for growth ambitions, per CEO Jan Erik Kjerpeseth

Company press release: ID:nObiXnq40a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Interest Income
NOK 2.64 bln
Q1 CET1 Capital Ratio
18.1%
Q1 Pretax Profit
NOK 2.11 bln
Q1 ROE
16.1%


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy."

Wall Street's median 12-month price target for Sparebanken Norge is NOK199.50, about 2.4% below its April 29 closing price of NOK204.40

The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 13 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)