In view of developments in national and international financial markets, at a meeting on
28 June 2010, the Supervisory Board of SpareBank 1 SR-Bank discussed the bank’s
long-term challenges and opportunities, including competitive access to equity and
The bank’s strong performance over many years has been key to supplying this part of the
country with the capital it needed. A continued profitable and solid bank, with an ample
access to equity and funding, will be crucial to sustained growth and development in the
“During the past fifteen years SpareBank 1 SR-Bank has been one of Norway’s most
profitable banks. For this excellent performance to continue, it is important that it is
attractive for investors to lend us money as well as participate in the bank as owners.
We have now reached a size, with regard to future funding and equity needs, that could
make equity certificates a less suitable equity instrument,” says Terje Vareberg, CEO of
SpareBank 1 SR-Bank.
In view of this, the Supervisory Board has asked the Board of Directors to study the
benefits and drawbacks of a possible conversion of SpareBank 1 SR-Bank to a limited
savings bank. The report will be presented to the Supervisory Board during the second
half of 2010.
Stavanger, 28 June 2010
Terje Vareberg, CEO, tel. +47 911 00 448
Vidar Torsøe, Deputy CFO, tel. + 47 970 80656
Thor-Christian Haugland, Executive Vice President Communications, tel. +47 480 31 633