Slides
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Rogaland Sparebank 3. quarter 2025 -CMD Tomas Nordbø, CEO Siri A. Styles, CFO Oslo, 5th of November 2025
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Strategy and Results • Market and Strategy • Results • Portfolio Market Outlook and Local Macro • Retail • Corporate • Funding • Local Macro Eika • CEO, Steinar Simonsen Agenda
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Rogaland – An Attractive Region Source:Regionalt nettverk, Norges bank The average annual growth in gross product per employee in the mainland economy is estimated at 0.7 percent in the period 2024–2060. Oslo and Rogaland are the highest, with over 1 percent annual growth, while counties such as Innlandet, Østfold and Telemark are lower, around 0.5 percent Source: TØI /SSB 0,6 0,3 -0,2 0,3 0,3 -0,2 -0,1 Sørvest Nord Innland Nordvest Sør Midt Øst Regional Indicators Average Grwoth Indicators Q1 2023 - Q3 2025
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Rogaland – An Attractive Region Municipal Inhabitants 2025 Stavanger 150.123 Sandnes 84.908 Sola 29.153 Strand 13.813 Randaberg 11.795 Sauda 4.600 Suldal 3.939 Hjelmeland 2.681 Jæren 73.946 Total 374.958 Total for Rogaland 504.496
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Rogaland – Continued Good Access to Customers Municipal Inhabitants 2025 Market share retail Stavanger 150.123 7,3 % Sandnes 84.908 16,7 % Sola 29.153 7,0 % Strand 13.813 13,0 % Randaberg 11.795 6,0 % Sauda 4.600 1,4 % Suldal 3.939 8,8 % Hjelmeland 2.681 41,0 % Jæren 73.946 3,4 % Total 374.958 9,0 % Total for Rogaland 504.496 6,8 %
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The Local Bank Consept – Attractive in the future • Strong presence in Nord-Jæren and Ryfylke and is the local bank in Rogaland • The bank has satisfied customers and is relevant and visible - customers choose us! • Great potential in the current market area, but also a short distance to new opportunities in other market areas in Rogaland • The local bank concept stands up well in a highly competitive market where several competitors are focusing nationally • The bank has a clear presence in the local community, with quick decisions and has advisors who know the customers and the business community in the region
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- We will grow more than the market and ensure ever-improving profitability -We will acquire, further develop and retain the best people and build a unique and attractive culture. - We must be responsible in our choices and contribute to local community development. - We will provide good and personalized customer experiences. In everything we do, we will contribute to building a stronger and broader reputation. .
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The Bank has never been as visible as it is now • Good visibility is a competitive advantage in a compettitive market • Communication that is locally relevant and personal strengthens the relationship with the customer and creates loyalty • Studies show that the bank is visible and relevant – and "top of mind" when customers are about to switch bank • Strong local presence and physical proximity give businesses a visible and accessible partner 32% 25% 18% 8% 5% 2% Rogaland Sparebank Bank 1 Bank 2 Bank 3 Bank 4 Bank 5 In addition to your own bank, which bank do you find most visible in your local community? Source: Kantars omdømmeundersøkelse 2025
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Customer Loyalty • Nine years of systematic customer satisfaction measurements give us incredibly good insight into what the customer values and what we can do differently • The bank has very satisfied customers in both the private and corporate segments • Good digital solutions combined with competent and committed advisors • We are good at what is important to the customer, - advice, simplicity in everyday life and accessibility. • Satisfied customers in the entire bank's market area, including former Hjelmeland Sparebank customers • Customer satisfaction and loyalty are closely linked, - satisfied customers are the bank's ambassadors 58 63 69 78 83 83 80 78 80 69 79 80 73 79 71 81 81 82 2017 2018 2019 2020 2021 2022 2023 2024 2025 KOI PM (snitt for året) KOI BM (Årlig undersøkelse) Kilde: Bankens egne undersøkelser
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• The bank is attractive in the market, - both for retail and corporate customers • Clear local profile - differentiates us from the competition • Delivers on customer promises - Local, fast and personal • Visible and relevant • Satisfied customers and employees One year as
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• 16 million for gifts that will create pride, joy and excitement for everyone in Rogaland • Proud sponsor and supporter of teams and associations in our region • Customer dividend for the 8th time! • Offices and workplaces throughout the bank's market area
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Organic Growth 9,2 % YoY Including the merger 19,3% YoY Lending growth YoY Lending growth by division YoY 9,2 % 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 3Q21 1Q22 3Q22 1Q23 3Q23 1Q24 3Q24 1Q25 3Q25 9,9 % 7,0 % -10% -5% 0% 5% 10% 15% 3Q21 1Q22 3Q22 1Q23 3Q23 1Q24 3Q24 1Q25 3Q25 Gross retail lending Gross corporate lending • Total lending increased by NOK 3,1 mrd (9,2 %) YoY • Total lending increased by MNOK 828 (2,3 %) QoQ • Retail lending is up NOK 2,5 mrd (9,9 %) YoY. And MNOK 942 (3,5%) QoQ. • Corporate lending is up MNOK 578 (7,0%) YoY., and down MNOK 114 (-1,3 %) QoQ
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Lending Growth – The Bank Increases Market Share in Both Segments Lending Grwoth Retail YoY Lending Growth Corporate YoY 9,9 % 4,4 % 0% 2% 4% 6% 8% 10% 12% 14% 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23 1Q24 3Q24 1Q25 3Q25 Gross retail lending Credit growth retail 7,0 % 1,7 % -8% -3% 2% 7% 12% 17% 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23 1Q24 3Q24 1Q25 3Q25 Gross corporate lending Credit growth corporate
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Rogaland Sparebank Eierbrøk 62,7% (egenkapitalbevisandel) Datterselskaper (fullkonsolidert) Rogaland Sparebank Boligkreditt AS 100% eierandel Aktiv Rogaland AS 100% eierandel Eika gruppen AS 9,6% eierandel. Rogaland Sparebank er største eierbank i alliansen Eika Kredittbank AS 100% eierandel Eika Kapitalforvaltning AS 100 % eierandel Fremtind Holding AS Eierandel 20,1% Sparebank 1 Kreditt AS 6% eierandel (rebalanseres) Deleide selskaper Kjell Haver Regnskapsservice AS 49,5% eierandel. Brage Finans AS Eierandel 3,9%. *Rogaland Sparebank i det felleseide boligkredittforetaket Eika Boligkreditt AS er 0,56%.
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• ROE > 11 % (incl. hybrid), better than compatible banks • Dividend : [50%-100%] • Gross lending > 5%, Will increase market share • CET-1 > 16,15% Financial Targets 2025 -2028 Adjusted target of CET1 from > 16,8 % to > 16,15 % from 31.10.25
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Financial Targets 2025 -2028 ROE >11% CET1 >16,15%* Dividend [50-100%] Lending Growth>5% 62,5 % 75 % 75 % 75 % 50,0 % 50 % 75,0 % 100 % 2021 2022 2023 2024 2025 Dividend per ECC Lower dividend target Upper dividend target 5,5 % 6,5 % 9,0 % 7,0 % 9,2 % 5,0 % 2021 2022 2023 2024 9M25 12 month growth Growth target 9,7 % 8,5 % 9,9 % 12,2 % 12,5 % 10,0 % 11,0 % 2021 2022 2023 2024 9m25 Return on equity after tax Mål egenkapitalavkastning 16,6 % 17,8 % 17,8 % 17,1 % 18,3 % 14,1 % 15,1 % 16,2 % 16,8 % 16,15 % 2021 2022 2023 2024 9M25 CET1 Target CET1 * Valid from 31.10.2025
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Eika Alliance ~ 40+ Local banks (The ten largest are all over 20 billion and account for 55% of the total assets in Eika) ~590 Bn. Total Assets under Management (inkl. CB and Eika Group) >820 000 Customers in the bank and Eika (Retail/Corporate) ~400 Emplyees working for and with bank deliveries in the Eika Group 6,4 % Average lending growth in banks over the past 5 years (8,7 % YoY) Eika Group • Provider of banking platform • Efficient large -scale operation on standardized technical solution • Good development in customer and advisor solution • Safe and cost -effective operating solution • Good product companies for customers • Eika Asset Management • Fremtind Insuarance • Kredittbanken (Credit cards) • An important and profitable investment • Largest owner with 9,6% ownership stake • Ownership valued at 830 MNOK • Dividend of 61 MNOK (2025) Eika – An important partner
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Strategy and Results • Market and Strategy • Results • Portfolio Market Outlook and Local Macro • Retail • Corporate • Funding • Local Macro Eika • CEO, Steinar Simonsen Agenda
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• Resultat after taxMNOK 390,6 (367,3) • ROE of 12,5 % (13,4 %) • EPS 10,3 kroner (10,0) • Gross lending growth YoY. 9,2 % (7,7 %) • NIM1,91 % (1,95 %) • Losses MNOK 22,4 (26,8) • Total operating costsMNOK 303,7 (303,1) • Solid bank with CET1 capital 18,3 % (17,5 %) Rogaland Sparebank – A Very Good First 9 Months ROE Summary first 9 months 209 218 261 367 391 9,5 % 9,5 % 10,7 % 13,4 % 12,5 % 3,0 % 5,0 % 7,0 % 9,0 % 11, 0 % 13, 0 % 0 50 100 150 200 250 300 350 400 450 500 9M21 9M22 9M23 9M24 9M25 Operating profit after tax Return on equity after tax
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Profitability Continued improvement in underlying banking ROE, Quarterly ROE, Yearly • ROE 2023 excluding conversion costs 10,5%, 8,7 % for 2022 • ROE 2024 adjusted for non-recurring effects in connection with merger is 11,0% 141 90 139 140 111 15,1 % 8,9 % 13,8 % 13,8 % 10,3 % -1,0 % 1,0 % 3,0 % 5,0 % 7,0 % 9,0 % 11,0 % 13,0 % 15,0 % 17,0 % -10 10 30 50 70 90 110 130 150 170 3Q24 4Q24 1Q25 2Q25 3Q25 Operating profit after tax Return on equity after tax 281 266 330 458 391 9,7 % 8,5 % 9,9 % 12,2 % 12,5 % 0,0 % 2,0 % 4,0 % 6,0 % 8,0 % 10, 0 % 12, 0 % 14, 0 % 0 100 200 300 400 500 600 2021 2022 2023 2024 9M25 Operating profit after tax Return on equity after tax Hjelmeland Sparebanks was included in the figures from 1 August 2024
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Net interest margin Stable net interest margin Net interest income, QoQ Rentenetto, Net interest income, YoY • NIM parent bank 2,44 % (2,49 %) • Net Interes Incom in kroner YTD 590MNOK VS YTD 527MNOK in 2024, up 12%. • 50% deposit coverage 2,01% 1,94% 1,99% 1,89% 1,87% 1,00% 1,20% 1,40% 1,60% 1,80% 2,00% 2,20% 3Q24 4Q24 1Q25 2Q25 3Q25 1,56% 1,61% 1,85% 1,95% 1,91% 1,0 0% 1,2 0% 1,4 0% 1,6 0% 1,8 0% 2,0 0% 2,2 0% 2021 2022 2023 2024 9M25
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Lending and deposit margins Some change in lending margins and deposit margins as a result of changes in the NIBOR interest rate Lending margins Deposit margins The margin is calculated as the difference between the average customer interest rate and the average Nibor3m. Lending margin = average lending rate – average Nibor3m. Deposit margin = average Nibor3m – average deposit rate 1,03 % 1,02 % 1,27 % 1,17 % 1,35 % 2,32 % 2,32 % 2,40 % 2,29 % 2,28 % 3Q24 4Q24 1Q25 2Q25 3Q25 Lending margin retail Lending margin corporate 1,35 % 1,26 % 0,95 % 0,99 % 0,79 % 1,77 % 1,72 % 1,67 % 1,79 % 1,70 % 3Q24 4Q24 1Q25 2Q25 3Q25 Deposit margin retail Deposit margin corporate
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Margins in the retail market – improvement in lending margins and weaker deposit margins The deposit ratio PM is about 43%, PM accounts for 76% of the bank's total lending 1,35 % 0,79 % -1,0 % -0,5 % 0,0 % 0,5 % 1,0 % 1,5 % 2,0 % 2,5 % 1K19 3K19 1K20 3K20 1K21 3K21 1K22 3K22 1K23 3K23 1K24 3K24 1K25 3K25 Lending margin retail Deposit margin retail Changes in the policy rate affect the margin picture
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Other income Stabile underlying development Other income, QoQ Other income YoY • Somewhat lower commission income from Aktiv eiendomsmegling in connection with the start-up of the new Aktiv Rogaland eiendomsmegling. 1 5 3 67 1 34 31 25 29 28 2 -2 18 -3 11 75 1 1 0 112 34 48 94 40 3Q24 4Q24 1Q25 2Q25 3Q25 Other operating income Change in value currency and securities Net commission income Dividend and income from subsidiaries 48 66 54 43 71 90 93 96 120 83 15 -9 6 16 272 4 4 77 1154 154 160 255 181 2021 2022 2023 2024 9M25 Other operating income Change in value currency and securities Net commission income Dividend and income from subsidiaries • The dividend from the Eika Group for 2024 is NOK 60.8 million (28.4 million) and has been booked in the second quarter of 2025 • • The change in value in 3Q24 was related to accounting adjustments in connection with the merger between Hjelmeland and Sandnes Sparebank
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Strong development in Gross Commission Income Steady increase in all types of commission income – High internal focus over time creates results Gross commission income QoQ Gross commission YoY 12,3 11 10,3 10,3 12,2 5,5 5,6 5,5 5,8 6,1 2,4 3,2 3 3,3 2,9 20,2 19,8 18,8 19,4 21,2 3Q24 4Q24 1Q25 2Q25 3Q25 Financial Instruments (asset mgt. and sales) Insurance Sales Transaction Services 32,9 36,5 34,5 40,8 32,8 12,3 15,0 16,6 20,2 17,4 5,1 5,4 6,8 9,3 9,2 50,3 56,9 57,9 70,4 59,4 2021 2022 2023 2024 9M25 Financial Instruments (asset mgt. and sales) Insurance Sales Transaction Services
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Operating Costs Stable operating costs, but some increase in the cost base as a result of the merger Operating Costs QoQ Operating Costs YoY • Cost-to-income ratio for banking operations in the first 9 months of 2025 is 38% • Replacing the core system from SDC to TietoEvry has been charged at 67 MNOK in the period 2021-2023. • Merger costs Hjelmeland Sparebank is 44,6 MNOK in 2024 • Increase in the cost base of approximately 10% as a result of the merger with Hjelmeland Sparebank. From 1 September 2024 • The number of full-time equivalents in the parent bank is stable at around 150 employees Underlying banking operations include the operation of the parent bank and the covered bond company 87 97 94 99 89 13 15 7 9 6 39 1 134 112 101 107 96 0 20 40 60 80 100 120 140 160 3Q24 4Q24 1Q25 2Q25 3Q25 Costs from banking operations Costs Aktiv Eiendomsmegling One offs/ merger costs 249 274 298 320 282 36 39 45 50 2229 12 26 45 - 314 324 369 415 304 44% 45% 41% 38% 38% 0,25 0,35 0,45 0,55 0,65 0,75 0,85 0,95 1,05 1,15 1,25 0 50 100 150 200 250 300 350 400 450 2021 2022 2023 2024 9M25 Costs from banking operations Costs Aktiv Eiendomsmegling One offs/merger costs Cost to income banking operations
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Losses on Loans and Guarantees Stable low losses Losses on loans and guarantees, QoQ Losses on loans and guarantees, YoY -32 11 11 24 22 -0,13 % 0,04 % 0,04 % 0,07 % 0,06 % 0% 0% 0% 0% 0% 0% 2021 2022 2023 2024 9M25 Losses on loans Losses in % of gross lending 7 -3 7 17 -1 0,08 % -0,04 % 0,08 % 0,19 % -0,01 % 0% 0% 0% 0% 0% 0% 0% 0% 3Q24 4Q24 1Q25 2Q25 3Q25 Losses on loans Losses in % of gross lending
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Strategy og Results • Market and Strategy • Results • Portfolio Market Outlook and Local Macro • Retail • Corporate • Funding • Local Macro Eika • CEO, Steinar Simonsen Agenda
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Lending to customers The share of lending to the retail market has increased significantly over the past 5 years. Low exposure to real estate development Distribution by sector Loans for real estate • Low exposure to cyclical industries • Insignificant direct exposure to the oil industry • Stable in commercial real estate Commercial rental 59% Housing rental 15% Housing building projects 10% Commercial building building projects 0% Land 4% Other 3% Housing cooperative 9% Commercial real estate 14% Buidling & construction 2% Public and private services 4%Retail services 1% Farming 3%Other* 1% Retail customers 76%
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Increase in lending volume and continued strong CET1 Volume growth in the private market and SMEs requires less capital Loans to customers Leverage Ratio 18,0 20,1 21,8 25,9 27,9 0,6 0,5 7,4 6,9 7,6 8,1 8,7 25,4 27,0 29,4 34,6 37,2 0 5 10 15 20 25 30 35 40 2021 2022 2023 2024 9M25 Lending Retail Eika boligkreditt Lending Corporate 9,5 % 9,2 % 9,0 % 8,9 % 8,5 % 0% 3% 6% 9% 12% 2021 2022 2023 2024 9M25
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Increase in lending volume has lower tied-up capital Volume growth in the private market and SMEs requires less capital Lending Risk weighted assets 25,0 27,0 28,7 33,5 36,6 3k21 3k22 3k23 3k24 3k25 CAGR +10,0% 16,7 16,5 16,9 19,7 19,3 3k21 3k22 3k23 3k24 3k25 CAGR +3,6%
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Strategic focus on small and medium-sized enterprises Bedriftslån (volumvektet) 51 % 56 % 52 % 55 % 52 % 33 % 36 % 35 % 39 % 44 % 16 % 9 % 13 % 6 % 4 % 2021 2022 2023 2024 3Q25 Under 50 MNOK 50-175 MNOK Over 175 MNOK Bedriftslån til eiendom (volumvektet) 25 % 27 % 16 % 26 % 6 % 25 % 24 % 26 % 22 % 4 % Under MNOK 20 MNOK 20-50 MNOK 50-100 MNOK 100-200 Over MNOK 200 2020 2025 Fewer large commitments and smaller commercial buildings reduce concentration risk in the portfolio
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Lending Portfolio Retail Distribution of loan size (volumeweighted) Distribution of loan size (number of loans) • Limited amount of large loans reduces vulnerability to temporary loss income • Average loan size MNOK 2,9 per customer 14 % 40 % 36 % 10 % <2 MNOK 2-4 MNOK 4-8 MNOK >8 MNOK 37 % 40 % 20 % 3 % <2 MNOK 2-4 MNOK 4-8 MNOK >8 MNOK Mortgages in a region that has had moderate housing prices for many years, higher interest rates more manageable
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LTV distribution Geografic distribution, volum • 88 % of the portfolio has an LTV of less than 75 %, • Average volumeweigthed LTV is 53,9 % • Ca 4% of the banks mortgage is related to holiday homes, but most of this is addidional mortgage • Customers with LTV > 100% are mostly customers with additional security in the form of guarantors with customer relationships at another bank • 85 % of the customers is located in Rogaland • 89% of the customers ex Balansebank is located in Rogaland • 94 % of Balansebank's customers are located outside the bank's primary market area The calculation of LTV is based on the market value of the collateral. With a fully allocated LTV, the entire loan in question is assigned to one and the same interval. 68 % 20 % 8 % 3 % 0 % < 60% 60-75% 75-85% 85-100% >100% Rogaland 85 % Oslo 5 % Landet for øvrig 10 % Lending Portfolio Retail– Low LTV Mortgages in a region that has had moderate housing prices for many years, higher interest rates more manageable
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Non-Performing and Doubtful Loans Stable development, natural increase in connection with added lending volume through the merger Non-performing and doubtful loans Write-downs • The increase in defaults is mainly related to the restart bank, Balansebank, and in line with the mandate with 10% default as an expectation • Individual commitments related to the estate of a deceased person as of 31.12.24 have been settled • Hjelmeland Sparebank's volume is included from 1 August 2024 38 34 50 66 66 44 43 25 28 2814 19 25 25 21 0,37 % 0,35 % 0,34 % 0,35 % 0,31 % 0% 0% 0% 0% 0% 0% 0% 0% 1% 1% 2021 2022 2023 2024 9M25 Step 1 provisions Step 2 provisions Individual write-downs (Step 3) Total write-downs in % of gross lending 215 237 380 425 398 97 0,85% 0,88% 1,29% 1,25% 1,09% 2021 2022 2023 2024 9M25 Individual engagement/estate Net non-performing and doutbful loans Net non-performing and doubtful loans in % of net lending (without estate)
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Non-Performing and Doubtful Loans Retail Stable low default in ordinary retail market. Somewhat higher in the restart bank Balansebank Gross default rate retail Gross default rate retail • The expected default in Balansebank is 10%. Loans from Balansebank are secured in residental buildings up to 85% of the value • 40 % of the default in Balansebank is related to 4 customers who are in the process of legal recovery 0,3 % 15,1 % 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 0,0 % 0,2 % 0,4 % 0,6 % 0,8 % 1,0 % 1,2 % 2016 2017 2018 2019 2020 2021 2022 2023 2024 9M25 Retail excl. Balansebank (l.a.) Balansebank (r.a) - 50 100 150 200 250 300 350 2016 2017 2018 2019 2020 2021 2022 2023 2024 9M25 Retail excl. Balansebank Balansebank • Lending volume from Hjelmeland Sparebank has been added in 2024
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Non-Performing and Doubtful Loans Corporate Reducing the risk of corporate lending over several years results in less pressure on the portfolio given the current market situation Gross default rate Corporate Gross default rate Corporate 1,4 % 0% 1% 2% 3% 4% 5% 6% 7% 8% 2016 2017 2018 2019 2020 2021 2022 2023 2024 9M25 140 0 100 200 300 400 500 600 700 800 2016 2017 2018 2019 2020 2021 2022 2023 2024 9M25 • Loan volume from Hjelmeland Sparebank added in Q3 2024
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• Internal CET1 goal of 16,8% fra 01.08.24 til 30.09.25 • New Pila 2 requirement 31.10.25 1,6 % down from 2,3 % • Management buffer down from 1,5 % to 1,25 % from 31.10.25 • New internal CET1 goal 31.10.25 is 16,15 %, including managementbuffer of 1,25% Well capitalised and equipped for further growth CET1 capital ratio of18,3 %. Incl this years result 20,7 %. Leverage ratio 8,5 % CET-1 A well-capatilsed bank 14,90 % 1,25 % 16,6 % 17,8 % 17,8 % 17,1 % 18,3 % 16,15 % 2021 2022 2023 2024 9M25 CET1 requirement 9M25 CET1 requirement Management buffer CET1
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Focus on sustainability in Rogaland Sparebank Achieved sustainability goals as of Q3 2025 • Rogaland Sparebank is affiliated with the Eika Alliance's common climate ambition of net zero emissions by 2050. • Certified sustainability reporting with climate accounts and published due diligence assessments in accordance with the Norwegian Transparency Act. • Integrated ESG module in the credit process provides systematic assessment of environmental, social and governance factors for corporate customers. • Earmarked 10% of the gift fund for green purposes and strengthened local community development • Retail has doubbled its green lending volume over tha last 2 years • The corporate market will reach a target of approximately NOK 1.5 billion in green lending during 2025. • Green bonds: Senior bond of 300 mNOK and covered bond (OMF) of 3 bnNOK
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Green fraction in Rogaland Sparebank 7% 35% 58% Green fraction retail 25 % 38% 36% 24% 2% Green fraction corporate 16,4% 12% 35% 52% <1% Green fraction Rogaland Sparebank 23,1% Green fraction is calculated based on the bank's green framework and the asset classes and projects defined as green within the framework.
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Strategy og Results • Market and Strategy • Results • Portfolio Market Outlook and Local Macro • Retail • Corporate • Funding • Local Macro Eika • CEO, Steinar Simonsen Agenda
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Strategy og Results • Market and Strategy • Results • Portfolio Market Outlook and Local Macro • Retail • Corporate • Funding • Local Macro Eika • CEO, Steinar Simonsen Agenda
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Retail CMD 5.november 2025 Lene Nevland Sivertsen, Director Retail
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We will take market shares where we have an office We will be amongst the most profitable banks in retail, compared to the banks we compete against We will be the best at Personal Advice We will work more standarized and operate efficiently We will improve both internal and external processes by making use of available technology and tools We will contribute to a lower cost ratio for the bank by increasing income without increasing costs We will work purposefully to increase the share within our preferred segment We will wnsure that we have sufficient deposit coverage Targets towards 2028 Retail
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Customer Satisfaction Retail in Rogaland Kilde: Kantars omdømmeundersøkelse 2025 99 76 73 72 59 59 55 52 46 Internettbank Rogaland Sparebank Lokalbank Landsdekkende Skandianvisk Regional Internettbank Landsdekkende Skandianvisk Very satisfied customers!!
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More Retail Customers Choose Rogaland Sparebank 9,9 % 4,4 % 0% 2% 4% 6% 8% 10% 12% 14% 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23 1Q24 3Q24 1Q25 3Q25 Gross retail lending Credit growth retail
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Stronger and more personal presence on Sola
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• Balance growth and profitability • Be attractive for the right customers • Visible in the market area • Pursuing efficient operations • Provide personal customer service • Maintain and develop adaptablity Priorities going forward
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Strategy og Results • Market and Strategy • Results • Portfolio Market Outlook and Local Macro • Retail • Corporate • Funding • Local Macro Eika • CEO, Steinar Simonsen Agenda
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Corporate CMD 5.november 2025 Lars Kristiansen, Direktor Corporate
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Targets towards 2028 Corporate The most attractive local bank for small and medium-sized businesses in our market segment • Local We are present with competent employees who know and understand the local business community • Personal Relationship and closeness are the glue between us and our customers • Quick A short route to decision-makers gives us the power to act, and puts us in a position to find good solutions together with our customers
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Our ambition We will take a clear position as an attractive and local commercial bank for small and medium- sized enterprises in our primary market areas. We will be a local commercial bank that to a greater extent reflects the local business community we are a part of. We will increase our focus on business customers and industries with a greater degree of turnover and operations, but which also need more comprehensive advice. Customers with potential for other income and natural deposit coverage ▪ Payment services and cash management ▪ Deposits ▪ Insuarence and pensions ▪ Leasing ▪ Foreign exchange and hedging
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From industry to geography • Strengthened presence and focus outside Sandnes • Two new customer teams from 1st of March this year • Stavanger and Ryfylke • Sandnes and Jæren • Strengthened competence • New employees
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Collaboration and partnership • Growth guarantee scheme – Innovasjon Norway • Working capital financing – EksFin • Leasing – Brage • Accounting
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Eika – Focus on the corporate market • Growth and strengthened position in the corporate market • Digitalization of products and services • Customer and advisor interfaces • Starting ENK and AS • Efficiency and competitiveness
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One year into the new strategy periode • Rogaland Sparebank – Well received by the business community • High activity throughout the corporate market area • High growth in new core customers • High growth in other income • Cash management • Insuarance, pensions og guarantees • Leasing • High customer satisfaction– All time high!
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Corporate portfolio • growth pr Q3 • Lending • +7,1% YoY • +7,9% this year • Other income • +9,6% YoY • Well diversified • Low risk in the portfolio Other 8,1 % Industy 1,6 % Housing Building Projects 4,0 % Housing Cooperative 6,1 % Building and Construction 7,8 % Public and Private Service Provision 8,6 % Housing Rental 10,6 %Agriculture 11,5 % Commercial Rental 41,8 %
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Big potential • Ca 10%* market share in the SME segment in our primary market area • 29 corporate employees in 4 offices *Målt ved andel org nr som er kunder i banken under MNOK 400 i omsetning
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Priority industries • Commercial real estate • Housing and commercial rental • Building and Construction • Housing and commercial building projects • Housing Cooperative • Industry and operational industries • Industry • Retail • Public and Private Service Provision • Agriculture
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Summary We are well-positioned for further growth. Significant potential in prioritized industries and in our defined market area Strengthened the organization with increased expertise and stronger customer solutions. This now makes us far more relevant and valuable to the business community in the region
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Agenda Strategy and Results • Market and Strategy • Results • Portfolio Market Outlook and Local Macro • Retail • Corporate • Funding • Local Macro Eika • CEO, Steinar Simonsen
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Deposits From Customers By division Deposit-to-Deposit Ratio 51% 51% 50% 50% 50% 3Q24 4Q24 1Q25 2Q25 3Q25 65 % 35 % Deposits Retail Deposits Corporate • Deposit coverage retail is 42.9% • Deposit coverage corporate is 61.6%
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Liquidity as of 30.9 Funding Liquidity reserve, (MNOK) LCR at 240 % | NSFR at 122 % 440 - - - - - - - 2.764 - - - - - - - 549 3.753 3.053 2.045 -1 .00 0 4 99 .00 0 9 99 .00 0 1 .49 9. 00 0 1 .99 9. 00 0 2 .49 9. 00 0 2 .99 9. 00 0 3 .49 9. 00 0 3 .99 9. 00 0 3k25 4K25 1K26 2K26 3K26 4K26 1K27 2K27 Mortgage loans available for Covered Bonds Liquidity facility Norwegian Central Bank Free Liquidity Liquidity buffer 100 1.300 660 800 300 -150 2.425 2.650 3.300 3.300 3.500 - - 220 200 250 - 250 3.725 3.530 4.300 3.850 3.500 0 5 00 1 .00 0 1 .50 0 2 .00 0 2 .50 0 3 .00 0 3 .50 0 4 .00 0 4 .50 0 5 .00 0 2025 2026 2027 2028 2029 2030+ Bonds and certificates Covered bonds Subordinate loans • After the end of the quarter, we opened a new covered bond of 3 billion • At the same time, we bought back approx. 1.7 billion of covered bonds maturing within May 26, distributed over 3 loans
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Liquidity Liquidity portfolio composition Rating distribution • Norwegian municipalities has an internal rating of AA NOK 3,6 billion excl. cash 91% 9% 0% 0% 0% AAA AA A BBB BB Domestic Municipalities (RW20) 2 % Foreign Municipalities (RW0) 10 % Gov't Guaranteed 19 % Domestic Covered Bonds 63 % Foreign Covered Bonds 6 %
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Financing of retail growth over the last 5 years 7.618 17.11817.139 27.904 0 5.000 10.000 15.000 20.000 25.000 30.000 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 30.9.2025* Covered bonds Retail lending • As of 31.10.25, 60% of retail is financed through covered bonds issued • 88% of all growth in retail (10.8 billion) over the last 5 years is financed through covered bonds issued (9.5 billion) • The rest is financed with deposits *Covered bonds are per 30.10.2025
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Financing of corporate growth over the last 5 years • Corporate has grown by 1.9 billion over the last 5 years • All is financed with deposits • Outstanding senior is down 1.4 billion in the same period 4.428 3.060 6.861 8.725 0 1.000 2.000 3.000 4.000 5.000 6.000 7.000 8.000 9.000 10.000 31.12.2020 31.12.2021 31.12.2022 31.12.2023 31.12.2024 30.9.2025* Senior Corporate lending *Senior is per 30.10.2025
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Agenda Strategy and Results • Market and Strategy • Results • Portfolio Market Outlook and Local Macro • Retail • Corporate • Funding • Local Macro Eika • CEO, Steinar Simonsen
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Housing prices – What is the house worth? Nominal housing prices Real housing prices Price change last 12 months: • Stavanger 12,2%, • Oslo 4,6% • Norge 5,5%
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House prices in kroner – perhaps just as interesting Square metre price of sold homes Average price of sold homes Source: Eiendom Norge 97.042 58.844 58.152 54.152 53.749 50.933 41.755 Oslo Tromsø Bergen Norge Trondheim Stavanger m/omegn Kristiansand m/omegn 7.095.199 5.348.246 5.018.409 5.016.572 4.993.572 4.574.835 4.207.065 Oslo Stavanger m/omegn Tromsø Bergen Norge Trondheim Kristiansand m/omegn
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Housing market - Rogaland Heated second-hand market and increase in new construction activity - 20 40 60 80 100 120 140 0 20 40 60 80 100 120 140 jan. 15 jan. 16 jan. 17 jan. 18 jan. 19 jan. 20 jan. 21 jan. 22 jan. 23 jan. 24 jan. 25 Stavanger m/omegn Norge - 5.000 10.000 15.000 20.000 25.000 30.000 35.000 40.000 45.000 - 1.000 2.000 3.000 4.000 5.000 6.000 7.000 jan. 10 jul. 12 jan. 15 jul. 17 jan. 20 jul. 22 jan. 25 Rogaland (v.a.) Oslo (v.a.) Norge (h.a.) Constructions startedTime to sell Source: Eiendomsverdi Kilde: SSB
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Construction activity has picked up in the region Stavanger Aftenblad (29.10.25) E24.no (1.11.25)
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Number of bankruptcies – decline in Rogaland • Decline in the number of bankruptcies in the region, also within construction. • Opposite trend in the Oslo region where the bankruptcy rate has increased in recent years Source: SSB
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Commercial real estate – the local market Total vacancy combination buildings Total vacancy retail buildings Combination buildings and retail buildings are the segments with the lowest vacancy 3,7 % 2,9 % 2,9 % 2,7 % 4,0 % 4,4 % 5,0 % 4,2 % 4,9 % 4,0 % 2,9 % 2,8 % 4,2 % 4,2 % 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0,7 % 1,1 % 0,9 % 1,6 % 1,3 % 0,7 % 1,3 % 1,4 % 1,6 % 0,8 % 1,4 % 0,7 % 0,6 % 0,6 % 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Combination buildings are multi-activity buildings that typically contain workshop / warehouse / office in the same building Source: Eiendomsmegler 1 Næringseiendom Stavanger
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Commercial real estate – the local market Total vacancy office property Stavanger region Rental prices largest cities in Norway 3,4 % 7,0 % 8,0 % 10,1 % 11,2 % 13,5 % 9,7 % 11,3 % 10,7 % 9,8 % 8,6 % 7,8 % 7,6 % 8,6 % 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Little new construction after the oil downturn from 2014–2016 Construction activity has picked up in recent years - Prime yield 5.5% as of second half 2025 - Increased activity on the transaction side compared to 2023, but somewhat reduced since 2024 Office properties are the segments with the most vacant space, but the market is improving. The correction in connection with the oil downturn in 2014–2016 gives a lower fall height than other parts of the country Source: Eiendomsmegler 1 Næringseiendom Stavanger Source: Akerhus eiendom 4000kr 1650kr
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Oil investments are still important for the Rogaland economy Oil investments 257 275 229 - 50 100 150 200 250 300 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 • Unlike in 2014, the oil service industry has several legs to stand on. • Renewable energy • Defence industry Source: SSB
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Slight increase in unemployment in Rogaland 0,00 1,00 2,00 3,00 4,00 5,00 6,00 0,00 1,00 2,00 3,00 4,00 5,00 6,00 jan. 21 aug. 21 mar. 22 okt. 22 mai. 23 des. 23 jul. 24 feb. 25 sep. 25 Norge Rogaland Source: Nav Rogaland 31.10.2025
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Employment in Rogaland – still many vacancies
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How many employees in 2-3 years? (share of companies) • 60% of companies in the oil and gas industry expect growth in the number of employees • Many vacant positions, especially in health care and building and construction Source: Sparebank 1 Sør-Norge business cycle barometer 46 % 43 % 42 % 42 % 41 % 40 % 39 % 35 % 47 % 47 % 47 % 45 % 51 % 45 % 50 % 47 % 6 % 9 % 9 % 13 % 7 % 13 % 11 % 18 % Rogaland Vestfold Agder Oslo Vestland Buskerud Telemark Akershus Several FTEs Status Quo Less FTEs
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Norges Bank’s Regional Network Regional indicators Expected production growth • Source: Norges Bank regional network 11 September 2025 • High activity for all sectors • Growth in energy has come down
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-2,0 -1,5 -1,0 -0,5 0,0 0,5 1,0 1,5 2,0 2,5 3,0 01.03.2015 01.09.2015 01.03.2016 01.09.2016 01.03.2017 01.09.2017 01.03.2018 01.09.2018 01.03.2019 01.09.2019 01.03.2020 01.09.2020 01.03.2021 01.09.2021 01.03.2022 01.09.2022 01.03.2023 01.09.2023 01.03.2024 01.09.2024 01.03.2025 01.09.2025 Aggregert Olje-leverandører Regional Network: Oil suppliers VS aggregated Declining growth and high activity within the oil supplier sector At the same time, activity for Norway as a whole is rising
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Agenda Strategy and Results • Market and Strategy • Results • Portfolio Market Outlook and Local Macro • Retail • Corporate • Funding • Local Macro Eika • CEO, Steinar Simonsen
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This presentation has been prepared solely for promotion purposes of Rogaland Sparebank. The presentation is intended as general information and should not be construed as an offer to sell or issue financial instruments. The presentation shall not be reproduced, redistributed, in whole or in part, without the consent of Rogaland Sparebank. Rogaland Sparebank assumes no liability for any direct or indirect losses or expenses arising from an understanding of and/or use of the presentation.
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Net commission income 2021 2022 2023 2024 9M25 Guarantees 6.092 5.346 4.826 5.082 4.409 Financial Instruments (asset mgt. and sales) 5.125 5.395 6.840 9.393 9.170 Product Distribution 17.023 36.532 34.470 40.856 32.867 Insurance Sales 12.354 15.004 16.594 20.278 17.309 Other fees 18.234 2.050 1.947 4.489 5.840 Commission income and income from banking services 58.829 64.326 64.677 80.099 69.595 Commission expenses and expenses related to banking services -9.126 -11.053 -11.619 -11.338 -9.569 Net commission income and income from banking services 49.702 53.273 53.057 68.760 60.026 Brokerage fee 28.548 27.764 27.844 34.179 17.192 Other commission income from real estate brokerage 11.401 12.315 14.689 16.976 5.467 Net commission income from real estate brokerage 39.949 40.079 42.533 51.155 22.659 Total net commission income 89.652 93.352 95.590 119.915 82.685 Commission income from banking-related services is increasing, while restructuring of Aktiv Eiendomsmegling (real estate agent) has led to reduced commission income from real estate brokerage so far this year.
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Key Figures 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 9M24 9M25 Growth assets 1,1 % 2,1 % 1,6 % 9,8 % 1,3 % 3,3 % 1,4 % 2,1 % 15,1 % 8,4 % Growth lending (net) 2,3 % 1,9 % 2,2 % 9,5 % 1,5 % 1,1 % 4,0 % 2,3 % 16,7 % 9,2 % Growth deposits 0,9 % -1,2 % 2,1 % 16,2 % 1,5 % -1,1 % 4,8 % 2,5 % 18,3 % 7,9 % Net interest margin 1,95 % 1,94 % 1,93 % 2,01 % 1,94 % 1,99 % 1,89 % 1,87 % 1,95 % 1,91 % Other income % of total income 11,2 % 16,2 % 31,2 % 37,1 % 15,2 % 18,7 % 32,5 % 16,9 % 29,5 % 23,5 % Cost-to-income ratio 51,2 % 41,1 % 35,4 % 44,4 % 49,4 % 41,0 % 37,3 % 40,2 % 40,5 % 39,4 % Costs as % of av. total assets 1,1 % 1,0 % 1,0 % 1,4 % 1,1 % 1,0 % 1,0 % 0,9 % 1,1 % 1,0 % Return on equity after tax 7,9 % 10,3 % 15,3 % 15,1 % 8,9 % 13,8 % 13,8 % 10,3 % 13,4 % 12,5 % Capital adequacy ratio 20,4 % 20,7 % 21,4 % 21,1 % 20,6 % 20,3 % 22,7 % 22,2 % 21,1 % 22,2 % Tier 1 capital ratio 18,5 % 18,0 % 18,7 % 18,6 % 18,2 % 17,9 % 20,0 % 19,5 % 18,6 % 19,5 % CET1 17,8 % 17,4 % 17,5 % 17,5 % 17,1 % 16,8 % 18,8 % 18,3 % 17,5 % 18,3 % Risk-weighted assets 17.410 17.898 17.889 19.698 20.794 20.968 18.736 19.262 19.698 19.262 Number of man-years 154 152 150 181 181 165 165 168 181 168 Stock exchange price 91 101 96 107 126 138 143 144 107 144 Equity capital certificate % of equity 63,6 63,6 63,7 62,5 62,3 62,4 62,6 62,7 62,5 62,7 Earnings per equity capital certificate 2,1 2,8 4,1 3,8 2,5 3,7 3,7 2,9 10,0 10,3 Book value per equity capital certificate 106,6 109,3 105,4 108,6 110,8 105,4 110,7 113,7 108,6 113,7 Individual write-downs in % of gross lending 0,17 % 0,17 % 0,16 % 0,18 % 0,19 % 0,18 % 0,18 % 0,18 % 0,18 % 0,18 % Coll. write-downs in % lending after ind. wr.-d. 0,17 % 0,15 % 0,20 % 0,21 % 0,15 % 0,16 % 0,17 % 0,13 % 0,21 % 0,13 % Deposits to loans ratio 49,5 % 48,1 % 48,0 % 51,0 % 51,0 % 49,9 % 50,2 % 50,3 % 51,0 % 50,3 % Deposits to loans ratio parent bank 96,0 % 94,4 % 95,4 % 92,4 % 92,9 % 99,0 % 94,5 % 99,2 % 92,4 % 99,2 % Egenkapitalavkastning er inkludert hybrid fra 1Q25
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Definition of Key Figures Rate of deposits to loans OB net loans to customers / OB deposits from customers Liquidity coverage ratio (LCR) Liquid assets / net liquidity output within 30 days in a stress scenario Net Stable Funding Ratio (NSFR) Available stable funding / required stable funding Net Interest Income (NII) Interest income – interest expenses Interest margin ((Net interest income / days in the period) x days in a year) / average total assets Lending margin Avgerage loan rate – rolling average of 3month NIBOR rate Deposit Margin Rolling average of 3month NIBOR rate – average deposit rate Cost / income ratio Total operating costs / (net interest income + total other operating revenues) Costs as a percentage of average total assets ((Total operating costs / days in the period) x days in a year) / average total assets Return on equity before tax (Operating profit before taxes / days in the period x days in a year) / ((OB total equity + IB total equity) / 2 Return on equity after tax (Operating profit after taxes / days in the period x days in a year) / ((OB total equity + IB total equity) / 2 Equity certificate capital in % of equity (Equity certificate capital + own equity certificate + share premium + dividend equalisation reserve) / (Equity certificate capital + own equity certificate + share premium + dividend equalisation reserve + savings bank`s fund + gift fund) Earnings per equity certificate (Operating profit after taxes x equity certificate capital in % of equity) / number of equity certificates Book value per equity certificate OB total equity x equity certificate capital in % of equity / number of equity certificates Price / Book (P/B) Market price / book value per equity certificate Operating profit before write downs and taxes Operating profit after tax + tax cost + write downs on lending and guarantees