Sparebanken Møre : Financial Reporting Document

Q3 2021 - highlights

• The bank continues the positive development and delivers the second best Q3 result ever
• We are leaving behind an active quarter, both in the bank and in the surroundings
• Strengthened net interest income and low losses contribute to improved profitability and cost efficiency
• The bank is solid and has good liquidity

Balance growth

Lending growth was 6.2 per cent over the last 12 months. Growth in deposits was also 3.7 per cent

Efficiency

Cost/Income ratio at 40.9 per cent in the quarter

Strong liquidity and solidity

Deposit-to-loan ratio at 58.5 per cent, LCR at 147 and CET1 at

17.1 per cent. Leverage Ratio at 7.6 per cent

Net Interest Income

Losses

NOK 2 million in losses on loans and guarantees in Q3

Return on

Equity

Return on Equity ended at

10.5 per cent for the third quarter of 2021

Results in Q3

• The bank continues the positive development and delivers its second best result for the third quarter ever
• Profit after tax ended at MNOK 176 in Q3 2021
• Return on Equity was 10.5 per cent in the quarter compared to 9.4 per cent in Q3 2020

176

10,410,5

9,4 9,1

8,5

Dividend part 2 - fiscal year 2020

Allocation of results for 2020 (Parent bank)

• The bank's dividend policy implies a cash dividend for 2020 of NOK 13.50 per equity certificate. Based on the extraordinary situation and the authorities' expectations, the General Meeting in March approved a cash dividend of NOK 4.50 per equity certificate, and NOK 45 million in dividends to the local communities. In addition, the General Meeting issued a board authorization for further distribution of dividends
• At its meeting on 25 October, the Board used its authorization and decided to distribute an additional dividend of NOK 9.00 per equity certificate, as well as the distribution of dividend funds to the local communities of NOK 90 million
• The dividend payment was taken into account as of 31 December 2020 and will thus not affect the bank's CET1 capital now

Results for 2020

allocated to equity

owners

NOK 534 million

(Parent bank)

The primary fund's share of the profit:

NOK 269 mill.

(Represents 50.4% of

the equity)

EC owners' share of

the profit:

NOK 265 mill.

(Represents 49.6% of

the equity)

Part 2 - NOK 90 million in additional

dividends to the community

33.4% of the primary fund's profit share

Part 1 - NOK 45 million in dividends to the

community

16.6% of the primary fund's profit share

NOK 134 million to the primary fund

- strengthened the capital as of 31.12.2020

Part 2 - NOK 89 million in additional

dividends to the EC owners

33.4% of the EC owners' share of profit

NOK 9.00 per EC

Part 1 - NOK 44 million in cash dividends 16.6% of the EC owners' share of profit NOK 4.50 per EKB

NOK 132 million to the dividend equalization

fund

- strengthened the capital as of 31.12.2020