SpareBank 1 Nordmore · OSL:SNOR
SpareBank 1 Nordmore — SpareBank 1 Sogn og Fjordane — Q2 2026 Earnings Presentation
33 slides from SpareBank 1 Nordmore's earnings presentation, 2026
Slide 1: Investor presentation Q2 2026
Investor presentation Q2 2026
Slide 2: Headlines Q2 2026
Headlines Q2 2026 Solid growth in loans: 4,8 % last 12 months Net interest income: NOK 347 mill (NOK 380 mill.) Result from financial instruments incl. joint ventures: NOK 36 mill. (NOK 14 mill.) Impairment loss: NOK 2 mill. (NOK 10 mill.) Strong liquidity and solidity: • LCR 196 % (178 %) • Core Ti
Slide 3: Financial target figures 2026
Financial target figures 2026 Target figures Q2 2026 Status pr. 30.06.2026 Return on equity > 11 % 11,6 % 12,2 % Cost/income ratio (ex financial income < 40 % 43,4 % 41,9 % Cost/income incl. Financial income 39,9 for Q2 and 36,5 at 30.06.26 Core Tier 1 capital adequacy ratio* > 16,5% 17,4 % 17,4% In
Slide 4: Development important key figures
Development important key figures Cost/income ratio Impairment loss 44,1 % 39,9 % 36,3 % 31,9 % 33,5 % 0,03 % 0,04 % 0,02 % 0,01 % 0,00 % Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Return on equity after tax Core Tier 1 capital adequacy ratio 18,1 % 16,3 % 16,6 %
Slide 5: Net interest income
Net interest income Net interest income was 8.7% lower than the same quarter in 2025. Intensified competition continues to put pressure on margins. The announced interest rate increase is expected to strengthen net interest income from Q3. Net interest income as a percentage of Net interest income i
Slide 6: Retail Market
Retail Market Good growth in Q2, with an increase of 2,6 % for the quarter Loans Retail Market Deposits Retail Market 54,2 55,5 52,7 53,5 53,9 24,6 25,7 24,5 24,2 24,1 6,0 % 6,0 % 6,0 % 5,2 % 5,3 % 7,0 % 5,5 % 5,4 % 6,1 % 4,8 % Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Slide 7: Corporate Market
Corporate Market Corporate Market continues to show solid activity across several industries, although lower demand in certain sectors is moderating the lending growth Loans Corporate Market Deposits Corporate Market 17,4 17,2 17,2 16,7 16,7 16,7 17,2 17,0 16,3 16,5 9,0 % 10,2 % 10,0 % 7,1 % 8,6 % 6
Slide 8: Customer margin
Customer margin Lending margins Deposit margins 2,54 2,66 2,52 2,47 2,24 1,71 1,41 1,20 1,28 1,37 1,14 1,14 1,03 0,95 0,95 0,59 0,90 0,88 0,84 0,84 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Corporate Market Retail Market Corporate Market Retail Market Shows depo
Slide 9: Good development in other income
Good development in other income The increase in other income was driven by positive development across core product areas, including payment services, savings and investment, insurance and real estate brokerage. Other income Change in profit other income 68 63 7 54 55 56 6 4 1 3 - 16 3 7 6 -3 6 15
Slide 10: Result from financial investments and jointly controlled entities
Result from financial investments and jointly controlled entities Positive earnings contribution from SpareBank 1 Alliance companies supported the strong Q2 result. Financial investments and Jointly Change in profit from financial investments and jointly controlled entities controlled entities 106 1
Slide 11: Operating expenses
Operating expenses The increase in operating expenses compared with the same quarter last year was primarily driven by higher personnel expenses and services from companies in the SpareBank 1 Alliance. The bank maintains a clear focus on cost-efficient operations. Operating expenses Operating expens
Slide 12: Loan losses
Loan losses Low loan losses in Q2. Impairments on individually assessed exposures decreased by NOK 19 mill, while model-based loan loss provisions increased by NOK 21 mill. Impairments Impairment provisions, per step 0,58% 0,60% 0,58% 80 0,56% 371 366 355 5 5 339 5 171 160 0,03% 0,04% 7 172 60 0,01%
Slide 13: Result for the quarter
Result for the quarter Satisfactory return on equity with 11,6% for Q2 and 12,2 % year-to date Profit after taxation Return on equity after tax 15,8 % 290 13,0 % 238 11,8 % 11,6 % 219 218 10,3 % 195 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Figures for the quart
Slide 14: Gains from financial instruments lifts the results
Gains from financial instruments lifts the results 22 9 8 Solid perfomance in Q2 26: 9 -15 • Strong contribution from -33 financial items • Solid growth in other income • Low loan losses 219 218 • Net interest income affected by marigin pressure and slower growth • Cost growth driven by higher perso
Slide 15: The credit risk in the Retail Market is assessed as low
The credit risk in the Retail Market is assessed as low Almost all lending to the retail market is secured by residential mortgages, and the credit risk in the retail market is considered to be low. Gross lending RM in % distributed per step Loans to the RM in default >90 days ** Q2 2026 94,1 % 5,2
Slide 16: The credit risk in the Corporate Market is moderate
The credit risk in the Corporate Market is moderate The bank closely monitors the business community in Sogn og Fjordane, and our assessment is that the companies in the region overall maintain satisfactory operations. Gross lending CM in % distributed Loans to the CM in default per step > 90 days Q
Slide 17: Segments and industries
Segments and industries Lending segments Lendings to the Corporate Market in NOK mill. 5.714 Property managment 5.929 Fishing and fish farming 2.770 2.544 Farming and forestry 1.861 1.773 Building and construction 1.534 27% 1.657 Commerce 1.527 949 Industry and mining 1.131 73% 1.151 Transport 865 7
Slide 18: Solid capital adequacy ratio
Solid capital adequacy ratio Capital adequacy ratio Leverage ratio 22,3 % 21,4 % 2,4 % 20,5 % 20,7 % 20,2 % 20,3 % 2,3 % 2,5 % 2,4 % 2,3 % 2,5 % 1,8 % 1,8 % 2,3 % 18,1 % 1,7 % 1,7 % 1,8 % 16,6 % 16,8 % 9,1 % 16,3 % 16,2 % 16,0 % 8,2 % 7,8 % 8,1 % 7,6 % Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025
Slide 19: Equity issue and capital adequacy
Equity issue and capital adequacy • In May, SSF announced that, in connection with its Q1 2026 reporting, the bank had identified an error in its previous capital adequacy reporting and that it intended to carry out a directed share issue to strengthen its capital adequacy and support future growth.
Slide 20: Maturity distribution of funding
Maturity distribution of funding 100 150 76 350 300 300 4.311 450 3.000 2.000 5.000 400 1.100 1.800 1.000 128 1.200 1.000 1.000 1.000 500 600 525 2026 2027 2028 2029 2030 2031 2032 2033 2034 2037 Senior bonds and commercial papers Covered bonds SNP/MREL Subordinated debt and hybrid capital (call dat
Slide 21: The bank in the community
The bank in the community Q2 2026
Slide 22: Market shares in Sogn og Fjordane
Market shares in Sogn og Fjordane Retail Market* 48,0 % Corporate Market* 35,8 % Estate Agency** 45,0 % * Market share SSF, figures as of Q1 2026 ** Market share Estate Agency, figures as of Q2 2026 Source: *SSF,Early Warning,** Eiendomsverdi 22
Slide 23: A historic boost for Førde IL
SpareBank | SOGN OG FJORDANE A historic boost for Forde IL
Slide 24: NOK 53 million to sports facilities in Førde
NOK 53 million to sports facilities in Førde Sparebankstiftinga Sogn og Fjordane has awarded Førde IL NOK 45 million for the construction of a new sports hall in Hafstadparken, as well as NOK 8 million to upgrade the artificial turf pitch at Førdehuset. The sports club has faced capacity challenges
Slide 25: The first-ever Drivkraft Festival
The first-ever Drivkraft Festival
Slide 26: Klassekassa
Klassekassa is a new concept where lower secondary school students can earn money for their class by carrying out socially beneficial activities that help others. Classes can apply via Sparebankstiftinga Sogn og Fjordane’s website.
Slide 27: New regional bank manager in Sunnfjord and Sogn
New regional bank manager in Sunnfjord and Sogn Trond Eiken has been appointed as the new bank manager for Sogn and will start in the role on 1 September. Trond Eiken has worked at the bank for more than 20 years, both as a personal banking adviser and as an investment adviser.. Cathia Baarøy has be
Slide 28: Contact information
• Contact information SpareBank 1 Sogn og Fjordane Visiting adresse: Langebruvegen 12 6801 Førde Website: www.ssf.no E-mailadress: [email protected] Organisation no: 946 670 081 Tel no: 57 82 97 00 Contact: Trond Teigene Frode Vasseth CEO CFO Tlf. no.+ 908 25 086 Tlf.no. + 951 98 452
Slide 29: Attachment
Attachment SpareBank ape oG eo 4)
Slide 30: Equity certificate
Equity certificate Book value per equity certificate Profit per equity certificate per quarter 310,2 304,5 311,2 289,7 299,3 12,6 10,2 9,5 8,4 8,7 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Slide 31: Subsidiaries and associates
Subsidiaries - fully consolidated Bustadkreditt Sogn og Fjordane AS Bankeigedom Sogn og Fjordane AS EiendomsMegler 1 Sogn og Fjordane AS Associates and joint ventures - equity method Samarbeidende Sparebanker AS (21,15 % and indirect ownership in the SpareBank 1 Gruppen of 4,1 %) Samarbeidende Spare
Slide 32: Consolidated financial results by Quarter
Consolidated financial results by Quarter Q226 Q126 Q4 25 Q3 25 Q2 25 Q125 Q4 24 Q3 24 Q2 24 Net interest income 347 (355, 372 394 330 388 401 405 +394 Other operating income 63 56 68 5S 54 45 38 42 47 Dividends and gains/losses on financial instruments 36 84 20 106 14 -3 15 222 24 Net other operati
Slide 33: Key figures, consolidated
Key figures, consolidated (Amounts in millions of NOK) 30.06.26 30.06.25 31.12.25 30.06.26 30.06.25 31.12.25 INCOME STATEMENT ‘Oper exp as a% of oper income excl inc. from fin. instr m9% 384% 40 50% Net interest income 702 767 1532 Oper. exp. as a % of oper. income incl. inc. from fin. instr. 365% 3
SpareBank 1 Sogn og Fjordane — Q2 2026 Earnings Presentation on 6ix