Good afternoon, everybody, and welcome to this second quarter presentation for the SpareBank 1 Sør-Norge group. My name is Inge Reinertsen. I am CEO of the bank, and together with me, Mr. Eirik Børve Monsen, who is CFO, and Morten Forgaard, who is head of Investor Relations. We will give you a brief presentation on this quarter's highlights, and also, we will be open for questions following the presentation. It has been a very good quarter and a half year for the bank as such. We have presented a new group executive management with more responsibility to fewer people, but well-known people with the organization. We have also had a new Chairman of the Board, Mr. Helge Leiro Baastad has been elected new chair. He has been CEO of the largest Norwegian insurance company for many years before he retired, and we have also acquired some new businesses within our real estate broker. We have also announced that we have reduced our stake in Forretningspartner, which is our accounting firm, and by doing so, we concentrate even more on the core banking business, releasing capital, reducing cost, and sharpening focus on the core business. As we grow as a bank, we also grow significantly on mutual fund savings, and this chart shows an extensive growth, both with net subscription and the total asset under management, which lies in the SpareBank 1 Forvaltning, which is the joint company for funds within the alliance. We have an ownership stake in that company of almost 43%, which clearly shows our strong position, because we have what we call a dynamic ownership model. You own account related to how large share of the business you provide to the company. Being the largest of the 12 alliance banks, we clearly also show that we are the largest of the contributors to this company. The macroeconomic environment is still benign in Norway. Low unemployment rate, good wage growth, both in nominal and real terms, and housing prices fairly stable on the positive sides, which also add some growth into our, especially retail lending. The PMI is still positive within our area. Of course, everything related to energy is very important not only to Norway and the southwest coast, but to the entire European community, and this also underpins the strong macroeconomic situation for Norway as a country. One year and a half after the merger, we are well on track on delivering on the synergy target. It was originally NOK 300 million. We have increased it to NOK 550 million, which means that we have already exceeded the original vision, and we are well on track, both on the cost, the operational synergies, and the personal synergies. A bit behind schedule on funding synergies, but the only explanation for that is that we have had an extensive growth in deposits and thereby reduced the need for market funding. So that will be also realized down the road. Financial targets remains unchanged. Long-term target of about 14% return on equity. We believe this quarter surely shows that we are on track to deliver and with a very good development in all lines within the P&L. Returning 12.7% this quarter. If we expect the goodwill from merger, it is on 13.6%, but the 14% ambition is to be read across compared to the 12.7%. Very strong growth within this quarter, 2.6%, and this is in a quarter where we have made the largest change in organizational charge since the crisis in the beginning of the 1990s. It's kind of not obvious that we would have this growth, and it surely shows that the organization has responded very well to the changes. Deposit growth even higher than the lending growth on 6.4%. Very low impairment losses standing at 5 basis points, which is well below what we regard as a normalized level. A very solid capital position standing at 17.5%, and included in that is that we have also subtracted 45 basis points as we were allowed to initiate a new share buyback program of 1%, which was started a week ago. Thereby, we have subtracted 45 basis points as if this share buyback program was already concluded. High cost efficiency with a low cost to income ratio standing at 27.8%, which shows that we are very effective and of course, that underpins the strong delivery on return on equity. That was the highlights, and now I will pass the word to Mr. Eirik Børve Monsen, who will give you some further details. Please, Eirik. I'll just hand the screen over to you like this. Thank you. What's happened? That was a success. Okay, now it is. Yeah. In the second quarter of 2026, we have a pre-tax profit of NOK 2 billion and NOK 92 million. It's an improvement from last quarter and also from second quarter of last year. Net interest income, we have a slight decrease in the net interest income from Q1 to Q2. Fully explained by margin pressure. We have a NIBOR of 33 basis points higher in the second quarter compared to the first quarter. In addition, on the retail side, we have not been able to raise the interest rates after the central bank increased the interest rate in May. There is an eight-week notice period in Norway, so the effect will not take place on the interest rates on the retail side before early in Q3. Net commission and other income, we have a good increase on all the areas, especially the real estate is delivering a very solid quarter. As I said, a good increase in all areas. When it comes to income from ownership interests, we also have a good increase, especially from SpareBank 1 Gruppen contributes with an increased contribution in the second quarter, but also BN Bank, SpareBank 1 Forvaltning, and SpareBank 1 Betaling have improved contribution in the second quarter. When it comes to financial investments, the derivative portfolio is more or less unchanged in value in the second quarter. The decrease from the first quarter is explained by a reduction. I'm sorry, an increase. There was a higher increase in the value in the first quarter, sorry. When it comes to operational expense, could you jump down to the synergy for me, please? Yes, we will find the synergy for. First, when it comes to cost, a short status on the synergy effects after the merger. We have now completed the operational synergies. When it comes to personnel synergies, we are ahead of plan. We are taking out 31 FTEs in the second quarter, and in total, we are now taking out 121 FTEs of the 150 FTEs we have said that we will take out by the end of this year. When it comes to funding synergies, we are slightly behind plan, which is explained by higher saving growth in the first half of this year, which has resulted in that we have not been able to issue as much as planned on the certificate program, in the European certificate program, by the end of second quarter. Good lending growth in Q2, and also an expectation of savings going slightly down, especially the public savings in the second half, means that we are expecting to fulfill more of these funding synergies in the second half of this year. If you move one more, please. When it comes to operating expense, we have an increase from first to second quarter of 1.1%. In this personnel cost, there is an included wage increase. A central wage increase of 2.3 percentage points with effect from the 1st of May. When it comes to- Operating expense changed from second quarter last year to second quarter this year. Adjusted for one-offs last year when it comes to mergers and the settlement we had with Tieto, we have an increase of 2.7 percentage points. In this number, we have wage growth of 4.3%. We have a general high inflation on the services we are buying during the last 12 months, and also we have the growth that we already have mentioned absorbed in these numbers. In addition, also mentioned that all the personnel we are now taking out, we have some costs related to this reduction in personnel, and this is also included in the numbers shown here. We have not made a separate provision for this. Next slide. Low credit losses, NOK 54 million or five basis points, well below the target. We are indicated in a normal quarter, we will be between 12 and 15 points. When it comes to capital, the CET1 ratio is 17.51 percentage points, so a buffer of 77 basis points down to the minimum requirements. We have now been allowed to again include the 50% of the result in this CET1 ratio. In addition, we have now last week started a new buyback program of 1% of the shares in SpareBank 1 Sør-Norge. That means as part of being allowed to do that, we need to include the effect on the CET1 ratio beforehand, before we start the program. So in the 17.51 percentage points, we have also taken out 45 basis points related to this buyback program. Yeah. Thank you, Eirik. I believe that was the highlights from the second quarter. Please, we are now open for questions from the participants. Please just raise your hand, and we will do our best to answer. Yeah, we have one hand from Mr. Thomas Svensson. Please, Thomas. Yes. Hi. Good afternoon. Just a question to the gross Stage 3 loans. They were down quite much Q over Q. Could you give some more details on that, on what should we expect on these Stage 3 loans in the quarters ahead? There are always some changes. You have some engagement being classified as running again. You also can have some being finally closed. I believe also, Thomas, this surely shows that we have a very strong portfolio and still it is within what we can expect to be normal variations around a low level. But of course, clearly the NOK 54 million in provisions is underpinned by this reduction in the Stage 3 commitments. Okay. A second question on net interest income. Do you think it is logical to assume that the price changes from mid-July should be enough to get this item rebound Q- over- Q in Q3? Pick up in Q3 should be logical based on that. If we look at the change in the NIBOR during the quarter, I believe that was 33 basis points. Even with a full rate hike on the mortgages, it would not fully offset. I believe that shows that there is a fierce competition amongst the banks at all time. To be resilient when it comes to this competition, we need to be cost effective. We always do our very best on individual engagements, especially within the corporate sector and on these kind of collective rate adjustments to increase the total interest margin. It is not only changing the interest rate on the lending side, it is also, of course, avoiding changing too much on the deposit side and thereby to gain net margin. We always prepare for even more fierce competition, and the only way to offset that is being very cost effective. That is why we also monitor the synergies and our ability to deliver post-merger as closely as we do. We will always be very committed in having economies of scale, being one of the largest banks, also to be one of the most efficient banks. Okay. Understood. Thank you. Thank you, Thomas Svensson. I believe I also saw one more hand, but it disappeared. Here it is. Please, Mr. Simen Aas. Yes. Thank you, guys. Just a question about funding for me. I was a bit late on the call, sorry for that if you already answered it. Could you just give us some color on the very strong corporate market deposit volume growth, and what is the driver of that? In that, I understand that the growth from deposits is one of the reasons for why your funding synergies are lagging, but are you still confident to achieve these synergies by 2027 despite this? Give us some timeline on that will also be very helpful. Thank you. That is my two questions. Eirik, please. Yeah. The deposit growth as we see is 23.7%, adjusted for public- Municipalities Yeah, yeah. Municipality deposits, it is 9.7%. We have had a higher increase in municipality deposits in the first half, which also results, as we said, that we have not been able to issue as much of the certificate program as planned. However, now with the increased lending growth in the second quarter and also an expectation of the public deposits going down in the second half, we expect to be able to increase or issue more of this certificate program. We cannot say how much we will be able to issue. We have, by end of Q2, issued EUR 1 billion in this certificate program, and we have guided on ending between EUR 2 billion and EUR 3 billion. At least we will be able to increase it quite a lot. The full effect is supposed to be from 2027. Yeah. We are kind of on track even on synergies on that side. But due to kind of a surprisingly high deposit growth, we have had less need for market funding. But of course, over time, we will level that out and of course use the cheapest sources of funding available, but with some kind of volatility in the short term. Yes. Okay. That is very helpful. Thank you. Thank you very much. Next one is Mr. Herman Salk. Please, Herman. Yes. Thank you. Good afternoon. Just a question on pricing. One of your closest peers said that they repriced retail mortgages by 25 basis points on average. Do you think it is fair to assume that you are sort of near that or at the same level on the mortgage side? On that topic, I will be deliberately a little less specific than my peer, and that is due to the fact that the competition authorities, they monitor very closely any sign of signaling on pricing in the market. Of course, we adjust as much as possible on the lending side. We adjust as little as possible on the deposit side, and thereby trying to utilize every change in interest rate to gain net margin. But at all time, you have a fierce competition, and it is our ability to grow the net interest income measured in krone is the combination of our volume growth and our ability to reprice, and that is partly collective repricing in the retail market and individual pricing in the corporate market. We like to be as transparent as possible, but I cannot be more specific than that. That is kind of left to the analysts to do their calculations and projections on how it will impact on the net interest income. Yeah. Okay. Thank you. Thank you. Understand that. Can I just try to rephrase it? Do you think this repricing has been, for you and in the market, quite similar to the other interest rate hikes in the interest rate upcycle? I believe there was an analysis from Statistics Norway saying that altogether, the banks on average were able to give 16 basis points to the customers instead of 25. As I mentioned, we always position ourselves that competition could become even more fierce, and our kind of defense is to be as cost-effective as possible to be able to scale our business without adding new cost. And we believe we have a very strong position. If the competition becomes less fierce, we will of course welcome that. If it should become more fierce, it will be more difficult for other banks to cope with than it should be for us. Okay. Thank you. Yeah. Thank you, Herman. I do not see any more hands. Then I will just end this session with thanking you all for participating and wishing you a good afternoon. Thank you and goodbye.