Interim report
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2. Quarter 2025
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Innholdsfortegnelse Group financial highlights and key figures Report of the Board of Directors– 2. Quarter 2025 Statement of Financial Performance Other comprehensive income Balance sheet Statement of Changes in Equity Statement of Cash Flows Result from the Group's quarterly accounts Notes Statement by the Board of Directors and the Group CEO Group financial results and key figures55 Important events in the quarter55 Macroeconomic trends66 Sustainability88 Financial performance99 Balance sheet development1919 Liquidity2020 Financial strength and capital adequacy2020 Concluding remarks and outlook2222 Note 1 Accounting policies3131 Note 2 Important accounting estimates and discretionary judgements 3131 Note 3 Net interest income3232 Note 4 Net fee-, commission- and other operating income 3333 Note 5 Net income from financial investments 3333 Note 6 Expenses3434 Note 7 Leases3535 Note 8 Losses3737 Note 9 Business Areas3838 Note 10 Loans3939 Note 11 Loss provisions4444 Note 12 Financial instruments at fair value4545 Note 13 Subsidiaries, associated companies and joint ventures 4747 Note 14 Other assets4747 Note 15 Financial derivatives4848 Note 16 Deposits4949 Note 17 Securities issued4949 Note 18 Other liabilities5050 Note 19 Subordinated debt and loan capital5050 Note 20 Equity5151 Note 21 Capital Adequacy and MREL5454 Note 22 Liquidity risk5757 Note 23 Changes to group structure5757 Note 24 Events occuring after the end of the quarter 5858 2. Quar2. Quarter 2025ter 2025 | Innholdsfortegnelse 2
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Group financial highlights and key figures RResultesult (Amounts in NOK million and in % of average assets) 30.06.2530.06.25 %% 30.06.24 % 31.12.24 % Net interest income 5 22 010010 2,882,88 %% 1 981 3,03 % 4 028 3,03 % Net fee- and other operating income 716716 1,031,03 %% 671 1,03 % 1 541 1,16 % Net income from financial investments 502502 0,0,7272 %% 221 0,34 % 1 056 0,80 % TTotal incomeotal income 5 33 228228 4,624,62 %% 2 873 4,39 % 6 625 4,99 % TTotal costsotal costs 5 11 023023 1,1,4747 %% 933 1,43 % 2 003 1,51 % RResult befesult beforore lossese losses 2 205 3,16 % 1 940 2,96 % 4 622 3,48 % Losses 5 2727 0,040,04 %% 51 0,08 % 110 0,08 % RResult befesult beforore taxe tax 2 178 3,12 % 1 889 2,89 % 4 512 3,40 % Tax 416416 0,600,60 %% 422 0,64 % 849 0,64 % RResult after taxesult after tax 5 1 762 2,49 % 1 467 2,21 % 3 663 2,74 % Interest hybrid capital 5 5555 47 100 RResult after tax eesult after tax ex. interx. interest hybrid capitalest hybrid capital 55 1 707 1 420 3 563 PrProofitabilityfitability Return on equity capital 1, 5 18,918,9 %% 18,2 % 21,8 % Interest margin 2, 5 2,882,88 %% 3,03 % 3,03 % Cost/income 3, 5 31,31,77 %% 32,5 % 30,2 % Balance sheet figurBalance sheet figures and liquidityes and liquidity 30.06.25 30.06.24 31.12.24 Total assets 144144 127127 133 027 135 673 Average assets 4, 5 139139 610610 130 909 132 721 Gross loans 5 109109 238238 103 498 105 048 Gross loans incl. commition loans 5 157157 039039 148 825 152 965 Deposits 5 9696 503503 89 660 88 379 Liquidity Coverage Ratio (LCR) 142142 148 147 SoliditySolidity Common Equity Tier 1 Capital 16,216,2 %% 16,4 % 16,8 % Tier 1 Capital Ratio 18,18,11 %% 18,1 % 18,8 % Total Capital Ratio 20,620,6 %% 20,7 % 21,3 % Common Equity Tier 1 Capital 1313 822822 13 257 14 054 Tier 1 Capital 1515 499499 14 663 15 728 Own Funds 1717 604604 16 763 17 829 Total risk exposure amount 8585 402402 80 888 83 678 Leverage Ratio 77,0,0 %% 7,5 % 7,8 % NONG KNONG Keey figury figureses NONG Quoted/market price (NOK) 147147,08,08 99,14 123,48 Number of EC issued (mill) 100,100,4040 100,40 100,40 Equity capital per EC (NOK) 80,80,4343 71,77 81,33 Result per EC (NOK) 77,,7878 6,46 16,30 P/E (Price/Earnings per EC) NOK 9,9,4646 7,67 7,58 P/B (Price/Book Value per EC) NOK 1,831,83 1,38 1,52 Branches and full-time emploBranches and full-time employyeesees Branches 1515 15 15 Group manyears 973973 970 986 Parent bank manyears 548548 530 541 1 The profit after tax in relation to average equity, calculated as a quarterly average of equity and at 01.01. The Bank's hybrid 1 capital issued are classified as equity in the financial statements. However, when calculating the return on equity, hybrid tier 1 capital are decucted from equity, and result after tax are adjusted for interests on hybrid tier 1 capital. 2 Net total interests as a percentage of average total assets. 3 Total costs as a percentage of total net income. 2. Quar2. Quarter 2025ter 2025 | Group financial highlights and key figures 3
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4 Average assets are calculated as average assets each quarter and at 01.01. 5 Defined as alternative performance measures, see attachment to the Quarterly report 2. Quar2. Quarter 2025ter 2025 | Group financial highlights and key figures 4
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Report of the Board of Directors– 2. Quarter 2025 Group financial results and key figures (Amount in NOK million ) 2Q252Q25 2Q24 Change 30.06.2530.06.25 30.06.24 Change Result after tax 951951 753 198 11 762762 1 467 295 Result per EC 4,204,20 3,32 0,88 77,,7878 6,46 1,31 Return on equity 20,320,3 %% 18,9 % 1,4 % 18,918,9 %% 18,2 % 0,7 % Cost/income 31,831,8 %% 31,8 % 0,0 % 31,31,77 %% 32,5 % 0,8 % Common Equity Tier 1 Capital Ratio 16,216,2 %% 16,4 % -0,2 % 16,216,2 %% 16,4 % -0,2 % Growth loans retail market 9,39,3 %% 4,3 % 5,0 % 77,8,8 %% 3,6 % 4,2 % Growth loans corporate market 2,2,44 %% 2,9 % -0,6 % 2,32,3 %% 9,4 % -7,1 % Growth loans total 6,96,9 %% 3,8 % 3,1 % 5,85,8 %% 5,6 % 0,3 % Growth deposits retail market 22,22,77 %% 21,4 % 1,3 % 6,26,2 %% 3,9 % 2,3 % Growth deposits corporate market 2727,3,3 %% 16,9 % 10,4 % 8,08,0 %% 4,6 % 3,4 % Growth deposits total 24,924,9 %% 19,3 % 5,6 % 77,,11 %% 4,2 % 2,9 % Result from ownership interests 138138 45 93 231231 111 120 Result from financial assets 160160 57 103 271271 110 161 Losses -- 3030 15 45 2727 51 24 Important events in the quarter SpareBank 1 Nord-Norge (SNN) is pleased with the results for 2Q25. The results are driven by strong underlying banking operations, low loan losses, satisfactory contributions from alliance companies, and a positive financial line. In 2Q25, the bank incurred a one-off cost of NOK 34 million related to SpareBank 1 Utvikling losing a lawsuit against TietoEvry. Total loan growth for the quarter (annualized) was 6.9 per cent indicating that the Group is gaining market share. A return on equity of 20.3 per cent and a cost/income ratio of 31.8 per cent are well within the Group’s targets. SNN delivered significantly higher loan growth in the Retail Market (RM) than underlying credit growth, with an annualized loan growth of 9.3 per cent in the quarter (including loans transferred to SB1 Boligkreditt), while actual 12-month growth was 7.8 per cent. Corporate Market (CM) growth (annualized) in 2Q25 was 2.4 per cent, and actual 12-month growth was 2.3 per cent. RM growth was strong throughout the quarter, and the Group succeeded in its strategy to gain market share, especially in regions with population growth. CM growth is lower than in recent years, due to reduced new housing construction and general uncertainty about economic developments. Persistently high interest rates and increased geopolitical uncertainty following the inauguration of the new U.S. president are contributing factors. The unexpected interest rate cut in June, expectations of further rate reductions, and increased investment appetite (see macro commentary below) provide cautious optimism for CM growth toward the end of the year and into 2026. 2. Quar2. Quarter 2025ter 2025 | Report of the Board of Directors– 2. Quarter 2025 5
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The Group is gaining market share across all product areas, demonstrating strong competitiveness. The underlying economic foundation of much of the region’s business sector is considered sound. Over time, the macroeconomic situation in Northern Norway has been better than the national average, supported by strong commodity prices, a weak Norwegian krone, and low electricity prices. There is little indication that this will change soon, although cod fisheries face further quota reductions. The underlying loan losses remain low, and the IFRS 9 (ECL model) assessment resulted in a net positive effect of NOK 50 million in 2Q25, mainly due to positive portfolio migration based on macroeconomic changes aligned with Norges Bank’s estimates. There have been minor changes in defaulted and impaired exposures (Stage 3) in 2Q25. Historically, losses remain low, likely due to the Group’s systematic efforts in recent years to reduce risk in the loan portfolio. The Group’s loan portfolio is considered solid, and most customers appear to manage macroeconomic challenges well. However, some individual customers and vulnerable industries face greater challenges. As a precaution, the Group has placed both individual exposures and larger exposures in vulnerable industries on a “watchlist,” ensuring ongoing and close monitoring. There are strong indications of continued interest rate cuts during 2025 and 2026, which are expected to have a positive macroeconomic effect. This will ease pressure on vulnerable sectors, although economic uncertainty remains relatively high due to the new U.S. economic policy. The Group continues to prioritize close follow-up of customers, especially in the CM, but also for vulnerable RM customers. SNN has a strong customer portfolio, a solid market position, competitive terms, and cost-efficient operations. The Group is well-positioned to be a reliable partner for customers in Northern Norway and expects to continue gaining market share through profitable and balanced growth. Macroeconomic trends Global economyGlobal economy The second quarter of the year has been marked by geopolitical uncertainty, shifting monetary policies, and ongoing trade conflicts. A central event during the quarter was Donald Trump’s so-called “Liberation Day” on April 2. There was considerable uncertainty ahead of the press conference. The tariff rates threatened by the U.S. surprised most observers and led to significant market movements. The implementation of the tariffs was initially postponed by 90 days and later moved to August 1. Negotiations are currently ongoing with several countries and regions, and the final outcome remains uncertain. Tariff discussions are expected to continue dominating the news cycle in the coming quarter. In June, the conflict between Israel and Iran escalated, and the U.S. chose to bomb Iran’s nuclear facilities. Following the bombing, speculation arose that Iran might attempt to close the Strait of 2. Quar2. Quarter 2025ter 2025 | Report of the Board of Directors– 2. Quarter 2025 6
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Hormuz, which led to a significant increase in oil prices. This rise was not unexpected, given that around 20 percent of the world’s oil shipments pass through the strait. While the U.S. Federal Reserve kept its policy rate unchanged during the quarter, the central banks of Europe, Switzerland, and Sweden all cut their rates. Equity markets were volatile during the period. Following April 2, there was a significant drop. However, this movement was quickly reversed when the tariff hikes were postponed, and markets reached new highs. The broad U.S. index S&P 500 was down more than 11 percent at its lowest point during the quarter but ended with a gain of 10.5 percent. Similarly, Europe’s FTSE 100 was down 10.5 percent at its lowest but ended with a 2 percent increase. Significant market movements are also expected in the upcoming quarter. NorNorwwegian Eegian Economy – The Central Bank Surpriseconomy – The Central Bank Surprise In a quarter where international developments received much attention, the major news from Norway was that the central bank decided in June to cut the policy rate by 0.25 percentage points to 4.25 per cent. This was the first rate cut by Norges Bank since the post-pandemic rate hikes. The central bank signaled that it envisions further cuts of 0.25 to 0.50 percentage points within the current year. The decline in inflation and weaker feedback from businesses in the Regional Network were cited as the main triggers for the cut. In recent months, retail trade has shown an upward trend. After the pandemic, volumes remained nearly unchanged, but in recent months, volume growth has picked up. Credit growth has also increased, with total credit growth over the past 12 months now at 4.1 per cent. The Norwegian krone has experienced a highly volatile period over the past quarter. The uncertainty triggered by “Liberation Day” significantly weakened the krone. At the beginning of April, the EURNOK exchange rate was 11.30, peaking a few days later at 12.12. Over the quarter, the krone depreciated by 5 per cent against the euro. Unemployment remains low in Norway but is slightly increasing, with regional differences. The tightest labour market is found in the three northernmost counties, with a registered unemployment rate of 2.0 per cent. The corresponding rate for Central Norway is 2.2 per cent, while Eastern Norway has an unemployment rate of 2.9 per cent. The Oslo Stock Exchange was also affected by uncertainty during the quarter. The main index was down as much as 10 per cent at one point but ended the quarter with a gain of 6.9 per cent. NorNorthern Northern Norwwegian Eegian Economy – Larconomy – Larger Invger Investments in Norestments in Nordland than in Tdland than in Trroms and Finnmarkoms and Finnmark CombinedCombined It has now been two years since the previous investment survey was published. This year’s update shows that planned investments in Nordland amount to NOK 352 billion. Of this, NOK 213 billion is 2. Quar2. Quarter 2025ter 2025 | Report of the Board of Directors– 2. Quarter 2025 7
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already financed or initiated. The planned investment amount in Nordland has thus decreased from NOK 425 billion in 2023. At the same time, financed and initiated projects have only declined by NOK 12 billion – from NOK 225 to NOK 213 billion. In Finnmark, planned investments have increased to NOK 171 billion, up from NOK 120 billion in 2023. The increase is mainly due to more projects in the early planning phase. Financed and initiated projects have increased by NOK 6 billion. In Troms, total investments have risen to NOK 144 billion, up from NOK 132 billion in 2023. Here, the increase in financed and initiated projects is significant – from NOK 58 billion in 2023 to NOK 107 billion in 2025. The uncertainty is particularly linked to extensive plans for energy and industrial development, where large investments in the power grid are crucial. Many of these projects remain uncertain, and it is possible that only a few will be realized. In Nordland, however, there is planned activity related to both traditional and green industry. The region is characterized by major initiatives in new industrial parks, data centers, and hydrogen projects. Three municipalities stand out in terms of planned investments in Northern Norway. Narvik, Tromsø, and Rana each have investments exceeding NOK 70 billion, and together they account for more than one quarter of the total investment volume in the region. Many of these plans are still in early stages, and the level of uncertainty is considerable. In Tromsø, the high le vel of planned investments is primarily driven by residential construction, supported by the strong tourism sector, which is expected to maintain activity going forward. At the same time, several projects have encountered challenges with permits and approvals. The full report can be read at kbnn.no. Sustainability In the second quarter of 2025, priority was given to revising the Group’s double materiality analysis and updating the sustainability policy. Both have been approved by the Board of Directors and will guide the Group’s priorities in this area going forward. Furthermore, the statement regarding the Transparency Act has been approved by the Board and published on snn.no. For more detailed information about the Group’s sustainability efforts in accordance with current legal reporting requirements, please refer to the 2024 annual report. 2. Quar2. Quarter 2025ter 2025 | Report of the Board of Directors– 2. Quarter 2025 8
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Financial performance (Amount in NOK million) 2Q252Q25 2Q24 Change Total income 11 671671 1 448 223 Total costs 531531 460 -71 Losses -30-30 15 45 Tax 219219 220 1 Profit after tax 951951 753 248 The Group’s profitability target is a return on equity that ranks among the highest compared to similar financial groups. The Board currently considers this to be a return on equity of 13 per cent or higher. The income statement for 2Q25 alone shows a profit after tax of NOK 951 million (NOK 753 million), which corresponds to a return on equity for the quarter of 20.3 per cent (18.9 per cent). Net interest income In June, Norges Bank reduced the policy rate by 0.25 percentage points from 4.5 per cent to 4.25 per cent. This change will primarily affect SpareBank 1 Nord-Norge’s interest rate setting and interest margins starting from the third quarter. Net interest income in 2Q25 amounted to NOK 1,003 million (NOK 995 million), which is NOK 4 million lower than the previous quarter. Relative to average total assets (ATA), net interest income represents 2.88 per cent as of 2Q25 (3.03 per cent). Funding costs in the credit institutions have remained relatively stable over the past quarter. Net commission and other income Net commission and other income in 2Q25 amounted to NOK 370 million (NOK 351 million). Income increased by NOK 24 million from 1Q25 (NOK 346 million). SpareBank 1 Boligkreditt contributed positively to the quarter with NOK 63 million (NOK 50 million) in commissions, which is NOK 9 million higher than the previous quarter (NOK 54 million). Please refer to Note 4 in the quarterly financial statements for a detailed specification of net commission and other income. Net income from financial investments Net income from financial investments in 2Q25 amounted to NOK 298 million (NOK 102 million), representing an increase of NOK 94 million from 1Q25 (NOK 204 million). 2. Quar2. Quarter 2025ter 2025 | Report of the Board of Directors– 2. Quarter 2025 9
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An increase in the value of shares and other securities contributed NOK 102 million in additional income during the quarter, while net losses on currency and financial derivatives reduced income by NOK 8 million. Costs Total costs for the second quarter of 2025 was NOK 531 million. Compared to 1Q25, the Group’s operating expenses increased by NOK 39 million. The cost increase from 1Q25 is entirely due to one- off administrative expenses, while underlying costs were reduced by NOK 7 million from the previous quarter. Details are further discussed in the section on operating expenses later in the report. Developments in market divisions Retail Market Net interest income in 2Q25 amounted to NOK 447 million (NOK 441 million), an increase of NOK 27 million compared to 1Q25 (NOK 420 million). Net commission and other income for the quarter was NOK 178 million (NOK 161 million), compared to NOK 162 million in 1Q25. Commission income from SB1 Boligkreditt in the last quarter was NOK 63 million, NOK 13 million higher than in 2Q24 (NOK 50 million) and NOK 9 million higher than in 1Q25 (NOK 54 million). Margin development in the retail market measured against average 3-month NIBOR: 2. Quar2. Quarter 2025ter 2025 | Report of the Board of Directors– 2. Quarter 2025 10
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RM 0,59 %0,59 % 0,35 %0,35 % 0,72 %0,72 % 0,96 %0,96 % 1,06 %1,06 % 1,02 %1,02 % 1,03 %1,03 % 1,16 %1,16 % 1,12 %1,12 % 2,72 %2,72 % 3,21 %3,21 % 2,92 %2,92 % 2,54 %2,54 % 2,50 %2,50 % 2,54 %2,54 % 2,48 %2,48 % 2,13 %2,13 % 2,20 %2,20 % Lending margin retail Deposit margin retail 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 The loan margin for RM, measured against the average 3-month NIBOR, decreased by 0.04 percentage points during the quarter (increase of 0.1 percentage points). The main reason for the margin decline is a higher average NIBOR in 2Q25 compared to 1Q25. At the same time, there is significant price competition on well-secured home loans, making it challenging to maintain the loan margin over time. Loan growth in RM for 2Q25, including loans transferred to SB1 Boligkreditt, was 2.3 per cent (1.1 per cent). Annualized, this corresponds to a yearly growth of 9.3 per cent (4.3 per cent). Actual growth over the past 12 months was 7.8 per cent (3.6 per cent). Total gross loan volume in RM at the parent bank, excluding loans transferred to SB1 Boligkreditt, was NOK 49,141 million as of 2Q25 (NOK 44,929 million). In 2Q25, the deposit margin increased by 0.07 percentage points (a decrease of 0.04 percentage points). The NIBOR rate declined at the end of 2Q25 following Norges Bank’s rate cut, which in isolation will have a negative effect on the deposit margin going forward. The Group is actively working to maintain the deposit margin, but future developments will depend on the trajectory of the NIBOR rate and the competitive landscape for deposits. Deposit growth in RM during the last quarter was 5.7 per cent (5.4 per cent). Annualized, this corresponds to a yearly growth of 22.7 per cent (21.4 per cent). Actual RM deposit growth over the past 12 months was 6.2 per cent (3.9 per cent). Deposits are a favorable form of funding, and the bank will continue to emphasize maintaining a high deposit coverage ratio. 2. Quar2. Quarter 2025ter 2025 | Report of the Board of Directors– 2. Quarter 2025 11
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Total operating expenses in the RM division in 2Q25 were NOK 204 million (NOK 141 million), compared to NOK 137 million in 1Q25. The development in costs is discussed in more detail in the section on operating expenses. As of the end of 2Q25, there were 234 full-time equivalents associated with the RM division in the parent bank (224), which is 9 fewer than at the end of 1Q25 (243). Loan losses in RM were reversed by NOK 1 million in 2Q25 (same as at the same time last year), down from a loss of NOK 10 million in 1Q25. Corporate Market Net interest income in 2Q25 amounted to NOK 391 million (NOK 361 million), compared to NOK 380 million in 1Q25. Net commission and other income for the quarter was NOK 51 million (NOK 49 million), compared to NOK 48 million in 1Q25. Margin development in the Corporate market measured against average 3-month NIBOR: CM 2,26 %2,26 % 2,24 %2,24 % 2,49 %2,49 % 2,57 %2,57 % 2,57 %2,57 % 2,58 %2,58 % 2,61 %2,61 % 2,74 %2,74 % 2,66 %2,66 % 0,99 %0,99 % 1,16 %1,16 % 0,92 %0,92 % 0,98 %0,98 % 0,96 %0,96 % 0,97 %0,97 % 0,93 %0,93 % 0,85 %0,85 % 0,85 %0,85 % Lending margin corporateDepost margin corporate 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 The loan margin for CM, measured against the average 3-month NIBOR, decreased by 0.08 percentage points to 2.66 per cent in 2Q25, after remaining unchanged at the same time last year. 2. Quar2. Quarter 2025ter 2025 | Report of the Board of Directors– 2. Quarter 2025 12
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The margin on CM is largely directly linked to the development of the NIBOR rate, as 80 per cent (83 per cent) of the loan portfolio is tied to NIBOR. Loan growth in CM for 2Q25 alone was 0.6 per cent (0.7 per cent), which annualized corresponds to 2.4 per cent (2.9 per cent). Actual growth over the past 12 months was 2.3 per cent (9.4 per cent). Credit demand in CM remains lower than in recent years, primarily due to persistently high interest rates, a complete halt in new housing construction, and increased geopolitical uncertainty. Total gross loan volume in CM at the parent bank as of 2Q25 was NOK 56,045 million (NOK 54,127 million). The deposit margin in CM, measured against the 3-month NIBOR, remained at the same level as in 1Q25 (a decrease of 0.02 percentage points). The reason the margin has not developed similarly to RM is that 66 per cent of CM deposits are NIBOR-linked, unlike RM deposits, which are rarely tied to NIBOR terms. Growth in CM deposits in 2Q25 alone was 6.8 per cent (4.2 per cent). Annualized, this corresponds to 27.3 per cent (16.9 per cent). Actual deposit growth in CM over the past 12 months was 8,0 per cent including the public sector (4.6 per cent). Total operating expenses in the CM division for 2Q25 alone were NOK 119 million (NOK 90 million), compared to NOK 98 million in 1Q25. The development in costs is discussed in more detail in the section on operating expenses. As of the end of 2Q25, there were 114 full-time equivalents associated with the CM division in the parent bank (98), two more than at the end of 1Q25 (112). The increase in headcount is due to expanded investment in the division. In CM, NOK 29 million in loan loss provisions were reversed in 2Q25 (compared to a provision of NOK 15 million at the same time last year), down from a loss cost of NOK 48 million in 1Q25. The reversal is mainly due to positive portfolio migration, resulting from changes in macroeconomic assumptions in the ECL model in line with Norges Bank’s estimates. Financial Investments – income and events in the accounting period An overview of the quarter’s total income from financial investments can be found in Note 5 of the quarterly report. Additionally, the results from subsidiaries, associated companies and joint ventures are specified in Note 13. Associated companies and joint ventures Profit contributions from associated companies and joint ventures totalled NOK 138 million for 2Q25 in isolation (NOK 45 million). 2. Quar2. Quarter 2025ter 2025 | Report of the Board of Directors– 2. Quarter 2025 13
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The main associated companies are commented on below: SparSpareBankeBank 1 Gruppen1 Gruppen The result for 2Q25 was NOK 1,034 million (NOK 145 million), which is NOK 299 million higher compared to 1Q25. A very strong insurance and financial result from the Fremtind Holding Group, along with a solid second-quarter result from Kredinor, contributed to a significantly better outcome than at the same time last year. The improvement in Fremtind Holding’s result is due to increased premium income and a ten percentage point reduction in the claims ratio compared to the same period last year. In addition, net income from investments increased as a result of positive revaluation of the bond portfolio, while the ongoing return from the portfolio was higher than in the corresponding quarter last year. SpareBank 1 Nord-Norge’s share of the Group’s result for 2Q25 was NOK 114 million (NOK 1 million). SparSpareBank 1 BoligkreBank 1 Boligkreditteditt The result for 2Q25 is a profit of NOK 95 million (NOK 167 million). SpareBank 1 Nord-Norge's share of the result in 2Q25 is NOK 11 million (NOK 24 million). 2. Quar2. Quarter 2025ter 2025 | Report of the Board of Directors– 2. Quarter 2025 14
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SparSpareBank 1 FeBank 1 Fororvaltningvaltning The group consists of the companies SpareBank 1 Forvaltning and ODIN. The total result in 2Q25 is NOK 63 million (NOK 66 million). It is the company ODIN that contributes the most significant share of the group's result. SpareBank 1 Nord-Norge's share of the result in 2Q25 is NOK 8 million (NOK 8 million). SparSpareBank 1 BetalingeBank 1 Betaling The company owns Vipps Holding AS, which in turn owns MobilePay AS, and incorporates the result from this company using the equity method. SpareBank 1 Nord-Norge's share of the result in 2Q25 is a deficit of NOK 6 million (deficit of NOK 4 million). SparSpareBank 1 MarkeBank 1 Marketsets SpareBank 1 Markets took over SpareBank 1 Nord-Norge's markets operations from December 2023. At the same time, the bank's ownership stake in this company increased, and it is now accounted for as an associated company based on the equity method. The result in SB1 Markets in 1Q25 is NOK 45 million (NOK 65 million). SpareBank 1 Nord-Norge's share of the result for the quarter is NOK 8 million (NOK 12 million). Subsidiaries The Group’s subsidiaries are fully consolidated in the Group’s accounts and delivered a total profit after tax of NOK 79 million for the quarter (NOK 77 million). EiendomsMegler 1 NorEiendomsMegler 1 Nord-Nord-Norgege The company reported a positive result after tax of NOK 16 million in 2Q25. The corresponding result in 1Q25 was also positive at NOK 8 million. The number of homes sold in 2Q25 was 1,045 (1,059), compared to 862 homes sold in 1Q25. Operating income in 2Q25 amounted to NOK 64 million (NOK 63 million), while expenses for the quarter were NOK 45 million (NOK 41 million). There were 109 (111) full-time equivalents employed as of the end of 2Q25. SparSpareBank 1 ReBank 1 Regnskegnskapshuset Norapshuset Nord-Nord-Norgege 2. Quar2. Quarter 2025ter 2025 | Report of the Board of Directors– 2. Quarter 2025 15
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The company reported a result after tax of NOK 11 million in 2Q25 (NOK 11 million). SNN Regnskapshuset experiences peak season in the first half of the year, with Q2 traditionally being the strongest quarter. Operating income in 2Q25 was NOK 91 million, compared to NOK 90 million in the same period last year. Total operating expenses in 2Q25 increased by NOK 2 million from the same period last year, from NOK 75 million to NOK 77 million. The company is undergoing a restructuring process following two mergers in 2024, and a gradual improvement in results is expected over the coming years. As of the end of 2Q25, there were 275 (287) full-time equivalents employed, representing a reduction of 12 FTEs compared to the same time last year. SparSpareBank 1 Finans NoreBank 1 Finans Nord-Nord-Norgege The company reported a result after tax of NOK 61 million in 2Q25, compared to NOK 50 million in 2Q24. The company’s revenues in 2Q25 increased by 6 per cent compared to the same period last year, from NOK 89 million to NOK 94 million. At the same time, operating expenses rose by 22 per cent, from NOK 15 million to NOK 18 million. There were 41 (42) full-time equivalents employed as of the end of 2Q25. Net losses in the quarter were NOK 13 million lower than in the corresponding quarter last year. FrFredrik Langes gate 20 ASedrik Langes gate 20 AS In connection with an internal property transaction, where part of the premises in Rødbank en (Bankhjørnet) was transf erred to the non-profit company Rødbank en AS, the company incurred a one-off negative effect of NOK 12 million, which contributed to a loss of NOK 6 million in 2Q25.The transaction also resulted in a one-off effect in the consolidated financial statements of NOK 12 million in 2Q25. Equities portfolio The Group’s equity portfolio amounted to NOK 1,664 million as of 2Q25, compared to NOK 1,370 million as of 2Q24, and NOK 1,562 million as of 1Q25. The parent bank’s equity portfolio experienced a positive value development in 2Q25 of NOK 102 million (negative development of NOK 20 million), primarily due to an increase in the value of shares held in SpareBank 1 Helgeland by NOK 76 million and BN Bank by NOK 26 million. In addition, NOK 46 million in dividends were received during the quarter (NOK 59 million). Certificates, bonds, currency and derivatives The Group’s holdings of certificates and bonds as of 2Q25 amounted to NOK 23,800 million, compared to NOK 20,039 million as of 2Q24, and NOK 21,812 million as of 1Q25. 2. Quar2. Quarter 2025ter 2025 | Report of the Board of Directors– 2. Quarter 2025 16
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Total net value changes in the bond portfolio for 2Q25 amounted to an unrealized net gain of NOK 15 million (NOK 20 million). In 2Q25, the Group recorded a positive value change of NOK 5 million (NOK 0 million) on its fixed- rate loan portfolio. An overview of the Group’s derivatives can be found in Note 15 of the quarterly financial statements. Operating costs The Group’s operating expenses in 2Q25 amounted to NOK 531 million, which is NOK 71 million higher than in 2Q24 (NOK 460 million), and NOK 39 million higher than the previous quarter (NOK 492 million). Operating expenses in the parent bank for the quarter totaled NOK 379 million (NOK 328 million), while operating expenses in the subsidiaries amounted to NOK 152 million (NOK 132 million). On June 3, 2025, The Borgarting Court of Appeal issued a ruling in the case between SpareBank 1 Utvikling DA and Tietoevry Norway AS. The ruling entails an adjustment to the fixed price paid by the banks in the SpareBank 1 alliance, amounting to approximately NOK 100 million annually. SpareBank 1 Nord-Norge has recorded an accrued cost of NOK 34 million in 2Q25 for the period from 2023 to 2Q25. This is a one-off effect, but going forward, the fixed monthly fee to Tietoevry will increase by NOK 1 million compared to previous levels. Additionally, an internal property transaction was carried out within the Group between Fredrik Langes Gate 20 AS and Rødbank en AS, where Fredrik Langes Gate 20 AS acquired the third floor of the Group’s headquarters from Rødbank en AS. In the same transaction, a specific area was donated by Fredrik Langes Gate 20 AS to Rødbank en AS for charitable purposes. As Rødbank en AS is a non- profit entity and therefore not consolidated into the Group, the transaction resulted in a one-off cost of NOK 12 million. Consequently, the Group’s one-off costs total NOK 46 million in 2Q25, which is NOK 7 million more than the overall cost increase of NOK 39 million. This implies an underlying cost reduction of NOK 7 million from 1Q25. The cost increase over the past 12 months amounts to 15 per cent for the Group, but adjusted for the one-off effects mentioned above, the underlying cost growth is 5 per cent. For the parent bank, the cost increase is 16 per cent and 5 per cent respectively, when accounting for the one-off effect from Tietoevry. The cost increase aligns with the Group’s ambition level and is mainly explained by general inflation, wage growth, and new initiatives in both the parent bank and subsidiaries. The number of full-time equivalents in the Group was 973 at the end of 2Q25, a reduction of 14 compared to 1Q25, and an increase of 3 compared to the same time last year. In the parent bank, there was a reduction of 9 full-time equivalents from 1Q25. SpareBank 1 Regnskapshuset reduced by 6, and SpareBank 1 Finans Nord-Norge by 1. Eiendomsmegler 1 Nord-Norge increased by 2 full-time equivalents during the quarter due to higher activity levels. 2. Quar2. Quarter 2025ter 2025 | Report of the Board of Directors– 2. Quarter 2025 17
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The change in full-time equivalents compared to the same quarter last year is mainly driven by the parent bank, which increased by 18, while SpareBank 1 Regnskapshuset reduced by 12. Additionally, Eiendomsmegler 1 Nord-Norge and SpareBank 1 Finans Nord-Norge reduced by 2 and 1 full-time equivalents respectively. The increase in the parent bank from last year occurred during the second half of 2024 and is due to new business initiatives (CM, Private Banking, etc.) as well as regulatory requirements (AML, etc.). The Group’s long-term target of a cost-to-income ratio of 40 per cent or lower remains in place for 2025. The Group maintains a strong focus on its cost base and continuously works on operational discipline throughout the organization. The Group launched a simplification and cost-efficiency project in Q3 2024. As of 2Q25, the project is well established within the organization, and cost effects are already visible. However, the main effects are expected to materialize gradually from Q3 2025 and throughout 2026. For more information about the project, please refer to the mentioned quarterly report and the 2024 annual report. The cost-to-income ratio as of 2Q25 is 31.7 per cent (32.5 per cent), well within the target of 40 per cent. Costs are specified by main categories and compared with previous periods in Note 6 of the quarterly financial statements. Losses and non-performing loans The Group’s net loan losses in 2Q25 amounted to NOK -30 million (NOK +15 million), consisting of NOK -1 million (NOK -1 million) from the Retail Market, and NOK -29 million (NOK +15 million) from the Corporate Market. Net losses in 2Q25 comprise NOK 22 million (NOK 52 million) in increased confirmed losses/changes in individual loss provisions, NOK -50 million (NOK -36 million) in reduced model-based ECL provisions, and NOK -2 million (NOK -2 million) in recoveries on previously written-off receivables. The Group does not observe any negative developments in the portfolio, but loss marking and defaults on a few larger individual exposures have led to an increase in Stage 3 exposures since 2024 (see Note 10 and the table on exposures by stage in the risk assessment). This has had a minimal impact on loss provisions, and there are still relatively few bankruptcies in the loan portfolio. The Group continues to maintain a solid and diversified customer portfolio with low to moderate risk, but vulnerable sectors such as commercial real estate, construction, retail trade, and certain fisheries exposures are areas the bank is closely monitoring. Total loan loss provisions as of 2Q25 amounted to NOK 825 million (NOK 848 million), which is NOK 73 million lower than at the end of the previous quarter (NOK 898 million). Loan loss provisions 2. Quar2. Quarter 2025ter 2025 | Report of the Board of Directors– 2. Quarter 2025 18
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represent 0.78 per cent of the Group’s total gross loans, and 0.54 per cent of gross loans including loans transferred to SB1 Boligkreditt and SB1 Næringskr editt. The corresponding ratios as of 2Q24 were 0.82 per cent and 0.57 per cent. The Group’s total Stage 1 and 2 loan and guarantee loss provisions as of 2Q25 amounted to NOK 466 million (NOK 495 million), NOK 45 million lower compared to the end of the previous quarter (NOK 511 million). Stage 3 loan and guarantee loss provisions were NOK 359 million as of 2Q25 (NOK 353 million), compared to NOK 387 million as of 1Q25. This corresponds to a provisioning ratio of 20 per cent (26 per cent) of defaulted and impaired exposures, approximately the same as at the end of the previous quarter (22 per cent). Please refer to Notes 2, 8, and 11 in the quarterly financial statements, where the Group’s assessments of factors affecting loan loss provisions in 2Q25 are described. The Board considers the quality of the Group’s loan portfolio to be good, and there is strong ongoing work related to defaults and impaired exposures. This area will continue to be a key focus going forward. Balance sheet development As of 2Q25, loans totaling NOK 48 billion (NOK 45 billion) have been transferred to SpareBank 1 Boligkreditt, and NOK 0.08 billion (NOK 0.1 billion) have been transferred to SpareBank 1 Næringskr editt. These loans do not appear as lending in the bank’s balance sheet. However, comments regarding loan growth still include the loans sold to the credit institutions. The Group assumes an expectation of 4–7 per cent loan growth in RM and 3–6 per cent loan growth in CM for 2025. The Group is well capitalized. Underlying market growth in both RM and CM is weaker than in recent years due to the high policy rate. The policy rate is now declining, credit growth is expected to pick up, and the region is well positioned compared to the rest of the country. The Group aims to gain market share also in 2025. Total loan growth to customers isolated in 2Q25 is 1.7 per cent (1.0 per cent). Annualized growth is therefore 6.9 per cent (3.8 per cent). Actual growth over the past 12 months is 5.8 per cent (5.6 per cent). The share of loans to the retail market accounts for 66 per cent of total loans as of 1Q25 (65 per cent). The Group’s lending is specified in Note 10 of the quarterly financial statements. 2. Quar2. Quarter 2025ter 2025 | Report of the Board of Directors– 2. Quarter 2025 19
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Liquidity Customer deposits are the Group’s most important source of funding, and Note 16 in the quarterly financial statements provides an overview of the bank’s deposits. Deposit coverage as of 2Q25 is 89 per cent, compared to 88 per cent as of 2Q24. In addition to equity capital and customer deposits, long-term borrowing from the capital market mainly represents the bank’s remaining funding. The bank’s access to liquidity and liquidity key figures are satisfactory. The bank aims to maintain a low level of liquidity risk. The LCR (Liquidity Coverage Ratio) as of 2Q25 is 142 per cent (148 per cent). The NSFR (Net Stable Funding Ratio) as of 2Q25 is 117 per cent (120 per cent). The senior preferred rating from Moody’s as of 2Q25 is Aa3, and the senior non-preferred rating is A3. For further details, please refer to Note 22 in the quarterly financial statements regarding liquidity risk. Financial strength and capital adequacy The updated capital requirements regulation, CRR3, entered into force in the EU on 01.01.25 and in Norway on 01.04.25, and is therefore reflected in the financial statements for the second quarter of 2025. Furthermore, the increase in the risk weight floor for residential mortgages, from 20 per cent to 25 per cent, will take effect on 01.07.25. The Group applies proportional consolidation of its ownership interests in SpareBank 1 Boligkreditt, SpareBank 1 Næringskr editt, Kredittbanken (SB1 Kreditt), SpareBank 1 Markets, and BN Bank in its capital adequacy reporting. For a more detailed description of this area, please refer to the Group’s annual report. The calculation in the table below is made exclusive of the share of the year-to-date profit for the period. 30.06.2530.06.25 30.06.24 Change Common Equity Tier 1 Capital Ratio 16,216,2 %% 16,4 % -0,2 % Tier 1 Capital Ratio 18,18,11 %% 18,1 % 0,0 % Capital Adequacy Ratio 20,620,6 %% 20,7 % -0,1 % Leverage Ratio 77,0,0 %% 7,5 % -0,5 % In order for the period’s profit to be included in the capital adequacy reporting, there is a regulatory requirement that the quarterly financial statements must be audited. For 2Q25, the quarterly financial statements are not audited, and therefore 0 per cent of the period’s profit is included in the calculated capital adequacy. Had the financial statements been audited, the Group 2. Quar2. Quarter 2025ter 2025 | Report of the Board of Directors– 2. Quarter 2025 20
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would have been permitted to include 37.1 per cent of the period’s profit, and the Group’s Common Equity Tier 1 (CET1) capital ratio would have been 17.08 per cent. If 50 per cent of the period’s profit (in line with the current dividend policy) had been included, the Group’s CET1 capital ratio would have been 17.37 per cent. The Group’s CET1 capital at the end of 2Q25 amounts to NOK 13,822 million, which is NOK 565 million higher than at the end of 2Q24 (NOK 13,257 million), and NOK 193 million lower than at the end of 1Q25 (NOK 14,015 million). A CET1 capital ratio of 16.2 per cent is 0.4 percentage points above the Group’s capital target (15.8 per cent), and 1.4 percentage points above the regulatory minimum level (14.8 per cent). Total risk-weighted assets (RWA) as of 2Q25 amount to NOK 85,402 million, having increased by NOK 4,514 million from 2Q24 (NOK 80,888 million), and decreased by NOK 637 million from 1Q25 (NOK 86,039 million). This is mainly due to loan growth and fluctuations in the securities market. The capital adequacy calculation is presented in Note 21 of the quarterly financial statements. 2. Quar2. Quarter 2025ter 2025 | Report of the Board of Directors– 2. Quarter 2025 21
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Concluding remarks and outlook In June 2025, Norges Bank implemented a surprisingly rate cut, following the absence of the previously announced cut in March 2025. At mid-year, further rate reductions are expected in September, December, and the first half of 2026. Isolated, this will have a negative impact on the bank’s deposit margin, but the goal is to recover part of this through other product areas and contributions from the alliance and subsidiaries. At the same time, there is reason to expect a somewhat increased growth rate in lending within CM and continued solid growth in RM. Households in Northern Norway have, on average, a lower debt ratio than the rest of Norway, and the business sector in the region is strong and profitable. However, some industries are facing challenges, and as in the rest of the country, the construction industry is in a special position, with all new housing construction having come to a halt. This is unfortunate for development and growth in the region, and there have been several bankruptcies in the industry, although these have had limited impact on SNN. A lower interest rate and a pent-up demand for more housing provide some hope for increased activity towards the end of 2025 and into 2026. This is also confirmed by data from the investment tracker at KBNN.no. Northern Norway continues to have lower unemployment than the national average, and key industries in the region benefit from a weak Norwegian krone. Real wage growth will further contribute to increased purchasing power, electricity prices are low in the region, and defense investments in the area over the coming years will be a significant economic driver. Before the cod season, there was considerable concern about lower cod quotas. The price increase for cod has more than compensated for the quota reduction, the exchange rate is favorable, and the industry has had many good years. Further quota reductions are now announced for 2026, which will pose challenges for the industry, although the bank does not consider this critical. The aquaculture industry continues to perform well, and despite somewhat lower market prices for salmon, good profitability and investment appetite are expected in 2025. Commercial real estate has been challenging for several years due to high interest rates. At the same time, rental prices have increased significantly due to inflation-adjusted leases, without a substantial rise in vacancy rates. As long as the underlying economy remains strong and vacancy levels stay low, SNN has positive expectations for the development of the sector. Lower interest rates will improve profitability going forward, and increased activity in commercial real estate is expected in the second half of 2025 and into 2026. The tourism industry is performing very well, with a record-breaking winter season and, as expected, a strong summer season now nearing its end. The winter season of 2025/26 looks very promising, with high booking numbers and several new direct flight routes to the region. The greatest uncertainty for the remainder of 2025 lies in the effects of new policies in the United States. In the worst-case scenario, a global recession resulting from new U.S. policies could also impact Northern Norway. SNN considers the likelihood of such an outcome to be lower than 2. Quar2. Quarter 2025ter 2025 | Report of the Board of Directors– 2. Quarter 2025 22
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assumed in 1Q25, but it is still noted that the final outcome of U.S. trade policy remains unclear. The wars in Ukraine and the Middle East both have the potential to spread fear and uncertainty. Despite this uncertainty, SNN expects Northern Norway to perform economically better than the rest of the country in the coming years. Lower interest rates and real wage growth will have a positive effect. Major infrastructure investments in the region in the coming years, both civilian and military, will contribute positively to the economy and growth. SpareBank 1 Nord-Norge is well positioned, highly solid and liquid, with a strong customer portfolio and a robust market position in a region with favorable conditions for positive economic development. Through our strong position and unique knowledge of the people and businesses in the region, the Group has the best opportunities to succeed. The future outlook for the Group is considered good. Tromsø, August 7 , 2025 The BoarThe Board od of Sparf SpareBank 1 NoreBank 1 Nord-Nord-Norgege 2. Quar2. Quarter 2025ter 2025 | Report of the Board of Directors– 2. Quarter 2025 23
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Statement of Financial Performance ParParent Bankent Bank GrGroupoup (Amounts in NOK million) 2Q24 2Q252Q25 30.06.24 30.06.2530.06.25 Note 30.06.2530.06.25 30.06.24 2Q252Q25 2Q24 1 852 11 922922 3 687 33 794794 Interest income 3 33 987987 3 867 22 011011 1 941 953 11 020020 1 898 11 988988 Interest costs 3 11 977977 1 886 11 008008 946 899 902902 1 789 11 806806 Net interest income 22 010010 1 981 11 003003 995 00 0 217 237237 415 453453 Fee- and commission income 4 567567 518 299299 278 17 2020 30 3434 Fee- and commission costs 4 4545 41 2525 21 1 22 2 33 Other operating income 4 194194 194 9696 94 201 219219 387 422422 Net fee- and other operating income 716716 671 370370 351 00 0 59 4646 60 122122 Dividend 5 122122 60 4646 59 97 154154 256 342342 Income from investments 5,13 231231 111 138138 45 - 2 113113 49 148148 Net gain from investments in securities 5 149149 50 114114 - 2 154 313313 365 612612 Net income from financial investments 502502 221 298298 102 0 00 0 00 00 0 00 0 1 254 11 434434 2 541 22 840840 Total income 33 228228 2 873 11 671671 1 448 00 0 158 172172 316 344344 Personnel costs 6 559559 516 272272 252 123 156156 241 277277 Administration costs 6 321321 270 185185 137 15 1818 30 3333 Ordinary depreciation 6,7 4343 43 2222 20 32 3333 64 5757 Other operating costs 6 100100 104 5252 51 328 379379 651 711711 Total costs 11 023023 933 531531 460 00 0 926 11 055055 1 890 22 129129 Result before losses 22 205205 1 940 11 140140 988 00 0 7 -- 2525 38 3131 Losses 8 2727 51 -- 3030 15 919 11 080080 1 852 22 098098 Result before tax 22 178178 1 889 11 170170 973 00 0 192 194194 376 371371 Tax 416416 422 219219 220 727 886886 1 476 11 727727 Result after tax 11 762762 1 467 951951 753 Attributable to:Attributable to: Controlling interests 11 739739 1 447 938938 742 Non-controlling interests 2323 20 1313 11 RResult per Eesult per Equity Cerquity Certificatetificate 3,24 3,963,96 6,59 77,,7272 RResult per Eesult per Equity Cerquity Certificate, adjusted ftificate, adjusted for interor interests hybrid capitalests hybrid capital 77,,7878 6,46 4,204,20 3,32 2. Quar2. Quarter 2025ter 2025 | Statement of Financial Performance 24
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Other comprehensive income ParParent Bankent Bank GrGroupoup (Amounts in NOK million) 2Q24 2Q252Q25 30.06.24 30.06.2530.06.25 30.06.2530.06.25 30.06.24 2Q252Q25 2Q24 727 886886 1 476 11 727727 Result after tax 11 762762 1 467 951951 753 Items that will not be rItems that will not be reclassified to preclassified to proofit/lossfit/loss 0 00 0 00 Share of other comphrehensive income from investment in assosiated companies 77 3 88 2 0 00 0 00 Total 77 3 88 2 Items that will be rItems that will be reclassified to preclassified to proofit/lossfit/loss - 1 00 9 22 Value changes on loans measured at fair value 22 9 00 - 1 0 00 0 00 Share of other comphrehensive income from investment in assosiated companies 1616 -45 -- 88 - 20 1 00 -2 00 Tax 00 -2 00 1 0 00 7 22 Total 1818 - 38 -- 88 - 20 727 886886 1 483 11 729729 Total comprehensive income for the period 11 787787 1 432 951951 735 3,24 3,963,96 6,62 77,,7373 Total result per Equity Certificate, adjusted for interests hybrid capital 77,89,89 6,30 4,204,20 3,24 2. Quar2. Quarter 2025ter 2025 | Other comprehensive income 25
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Balance sheet ParParent Bankent Bank GrGroupoup (Amounts in NOK million) 31.12.24 30.06.2530.06.25 Notes 30.06.2530.06.25 31.12.24 AssetsAssets 1 404 237237 Cash and balances with central banks 237237 1 404 10 070 1010 740740 Loans to credit institutions 10 22 435435 2 394 92 450 9696 107107 Loans to customers 10,11,12 106106 032032 101 828 1 522 11 659659 Shares 12 11 664664 1 527 19 233 2323 798798 Certificates and bonds 12 2323 800800 19 235 1 532 11 418418 Financial derivatives 12,15 11 418418 1 532 6 436 66 940940 Investment in Group Companies, assosiated companies and joint ventures 13 66 579579 5 981 398 640640 Fixed assets 7 925925 811 533 576576 Other assets 12,14 11 037037 961 133 578 142142 115115 TTotal assetsotal assets 144144 127127 135 673 LiabilitiesLiabilities 763 11 848848 Depsits from credit institutions 1616 11 847847 761 87 727 9494 711711 Deposits from customers 16 9494 656656 87 618 13 756 1414 014014 Debt securities in issue 17 1414 014014 13 756 1 086 992992 Financial derivatives 12,15 992992 1 086 3 212 33 002002 Other liabilities 18 33 312312 3 678 9 435 1010 170170 Senior non-preferred and subordinated debt 19 1010 170170 9 435 115 979 124124 737737 TTotal liabilitiesotal liabilities 124124 991991 116 334 EEquityquity 2 650 22 650650 Equity Certificate capital and premium reserve 20 22 650650 2 650 1 450 11 450450 Hybrid capital 20 11 450450 1 450 4 837 44 736736 Dividend Equalisation Fund 20 55 427427 5 516 8 662 88 542542 Saving Bank's primary capital 20 99 342342 9 446 Non-controlling interests 20 267267 277 17 599 1717 378378 TTotal equityotal equity 1919 136136 19 339 133 578 142142 115115 TTotal liabilities and equityotal liabilities and equity 144144 127127 135 673 2. Quar2. Quarter 2025ter 2025 | Balance sheet 26
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Statement of Changes in Equity (Amounts in NOK million) EC capital and Premium Fund Dividend Equalisation Fund Saving Bank's primary capital Hybrid capital Total controlling interests Non- controlling interests Total equity GrGroupoup EEquity at 01.01.24quity at 01.01.24 22 650650 44 628628 88 417417 11 250250 1616 945945 245245 1717 190190 TTotal comprotal comprehensivehensive income fe income for the periodor the period Period result 671 776 1 447 20 1 467 Other comprehensive income: Value changes on loans measured at fair value 4 5 9 9 Share of other comprehensive income from investment in assosiated companies - 19 - 23 - 42 - 42 Tax on other comprehensive income - 1 - 1 - 2 - 2 TTotal other comprotal other comprehensivehensive incomee income - 16 - 19 - 35 - 35 TTotal comprotal comprehensivehensive income fe income for the periodor the period 655 757 1 412 20 1 432 TTransactions with oransactions with ownerwnerss Equity issue 11 11 Other transactions 1 1 1 Interests hybrid capital - this year - 23 - 26 - 49 - 49 Approved society dividend - 813 - 813 - 813 Total transactions with owners - 726 - 838 -1 564 - 16 -1 580 EEquity at 30.06.24quity at 30.06.24 22 650650 44 557557 88 336336 11 250250 1616 793793 249249 1717 042042 Equity at 01.01.25 2 650 5 516 9 446 1 450 19 062 277 19 339 TTotal comprotal comprehensivehensive income fe income for the periodor the period Period result 806 933 1 739 23 1 762 Other comprehensive income: Value changes on loans measured at fair value 1 1 2 2 Share of other comprehensive income from investment in assosiated companies 11 12 23 23 Tax on other comprehensive income Total other comprehensive income 12 13 25 25 Total comprehensive income for the period 818 946 1 764 23 1 787 TTransactions with oransactions with ownerwnerss Dividend paid - 878 - 878 - 32 - 910 Other transactions - 3 - 5 - 8 - 1 - 9 Interests hybrid capital - this year - 25 - 30 - 55 - 55 Approved society dividend -1 016 -1 016 -1 016 Total transactions with owners - 906 -1 051 -1 957 - 33 -1 990 EEquity at 30.06.25quity at 30.06.25 22 650650 55 427427 99 342342 11 450450 1818 869869 267267 1919 136136 2. Quar2. Quarter 2025ter 2025 | Statement of Changes in Equity 27
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Statement of Cash Flows ParParent Bankent Bank GrGroupoup (Amounts in NOK million) 30.06.24 30.06.2530.06.25 30.06.2530.06.25 30.06.24 1 852 22 098098 Profit before tax 22 178178 1 889 30 3333 + Ordinary depreciation 7 4343 43 38 3131 + Losses on loans and guarantees 8 2727 51 376 371371 - Tax/Result non-current assetes held for sale 416416 422 1 544 11 791791 PrProovided frvided from the yom the year's operationsear's operations 11 832832 1 561 - 181 -- 417417 Change in sundry liabilities: + increase/ - decrease 18 -- 569569 - 493 68 7171 Change in various claims: - increase/ + decrease 14 3939 - 61 -3 107 --44 357357 Change in gross lending to and claims on customers: - increase/ + decrease 10,11,12 --44 271271 -2 678 -1 856 --44 702702 Change in short term-securities: - increase/ + decrease 12 --44 702702 -1 856 5 947 66 984984 Change in deposits from and debt owed to customers: + increase/ - decrease 16 77 038038 5 920 81 11 085085 Change in liabilities to credit institusions: + increase/ - decrease 16 11 086086 81 2 496 455455 A. Net liquidity change frA. Net liquidity change from operationsom operations 453453 2 474 -46 --275275 - Investment in fixed assets 7 --157157 -56 - 346 -- 505505 Payments to group companies and assosiated companies 13 -- 505505 - 282 0 00 Payments from/Change in values of group companies and assosiated companies 13 -- 8080 - 15 - 392 -- 780780 B. Liquidity change frB. Liquidity change from invom investmentsestments -- 742742 - 353 - 49 -- 5555 Interest to hybrid capital owners -- 5555 - 49 - 24 -- 2727 Payments to leases 7 -- 3030 - 28 -1 459 --11 714714 - Dividend paid on EC/approved distributions --11 746746 -1 486 -2 400 -- 818818 Payments to borrowings through the issuance of securities 17 -- 818818 -2 400 1 849 11 032032 Payments from borrowings through the issuance of securities 17 11 032032 1 849 - 200 -- 280280 Payments to subordinated loan capital 19 -- 280280 - 200 250 11 018018 Payments from subordinated loan capital 19 11 018018 250 0 00 Payments to/payments from hybrid capital 20 00 0 Payment from non-controlling interests 00 11 -2 033 -- 844844 C. Liquidity change frC. Liquidity change from financingom financing -- 879879 -2 053 71 --11 169169 A + B + C. Total change in liquidity --11 168168 68 1 229 22 001001 + Liquid funds at the start of the period 22 001001 1 251 1 300 832832 = Liquid funds at the end o= Liquid funds at the end of the periodf the period 833833 1 319 756 237237 Cash and balances with Central Banks 237237 756 544 595595 Loans and advances to credit institutions without an agreed term or notice period 596596 563 1 300 832832 Liquid funds at the end oLiquid funds at the end of the periodf the period 833833 1 319 Liquid funds are defined as cash and balances with Central Banks, and loans and advances to credit institutions without an agreed term or notice period. Additional infAdditional information cash floormation cash floww 3 681 33 787787 Interests received 33 980980 3 861 1 349 11 329329 Interests paid 11 318318 1 337 2. Quar2. Quarter 2025ter 2025 | Statement of Cash Flows 28
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Result from the Group's quarterly accounts (Amounts in NOK million) 2Q252Q25 1Q25 4Q24 3Q24 2Q24 1Q24 4Q23 3Q23 2Q23 Interest income 22 011011 1 976 2 014 2 006 1 941 1 926 1 888 1 757 1 525 Interest costs 11 008008 969 987 986 946 940 891 802 670 Net interNet interest incomeest income 11 003003 1 007 1 027 1 020 995 986 997 955 855 Fee- and commission income 299299 268 278 290 278 240 229 234 255 Fee- and commission costs 2525 20 22 18 21 20 24 19 24 Other operating income 9696 98 262 80 94 100 312 69 78 Net fNet fee- and other operating incomeee- and other operating income 370370 346 518 352 351 320 517 284 309 Dividend 4646 76 13 8 59 1 3 2 40 Income from investments 138138 93 132 583 45 66 - 28 - 69 3 Net gain from investments in securities 114114 35 1 98 - 2 52 108 24 - 38 Net income frNet income from financial invom financial investmentsestments 298298 204 146 689 102 119 83 - 43 5 TTotal incomeotal income 11 671671 1 557 1 691 2 061 1 448 1 425 1 597 1 196 1 169 Personnel costs 272272 287 311 276 252 264 317 241 220 Administration costs 185185 136 169 126 137 133 152 128 117 Ordinary depreciation 2222 21 20 21 20 23 22 22 22 Other operating costs 5252 48 96 51 51 53 87 49 42 TTotal costsotal costs 531531 492 596 474 460 473 578 440 401 RResult befesult beforore lossese losses 11 140140 1 065 1 095 1 587 988 952 1 019 756 768 Losses -- 3030 57 24 35 15 36 91 52 30 RResult befesult beforore taxe tax 11 170170 1 008 1 071 1 552 973 916 928 704 738 Tax 219219 197 219 208 220 202 172 192 179 RResult after taxesult after tax 951951 811 852 1 344 753 714 756 512 559 Interest hybrid capital 2828 27 27 26 23 24 21 15 13 RResult after tax eesult after tax ex. interx. interest hybrid capitalest hybrid capital 923923 784 825 1 318 730 690 735 497 546 PrProofitabilityfitability Return on equity capital 1 20,320,3 %% 17,2 % 18,9 % 32,1 % 18,9 % 17,8 % 18,8 % 13,2 % 15,1 % Interest margin 2,832,83 %% 2,93 % 3,03 % 3,04 % 3,01 % 3,04 % 2,85 % 2,76 % 2,65 % Cost/income 2 31,831,8 %% 31,6 % 35,2 % 23,0 % 31,8 % 33,2 % 36,2 % 36,8 % 34,3 % Balance sheet figurBalance sheet figureses Loans and advances excl. commision loans 109109 238238 106 623 105 385 103 499 101 250 101 093 99 809 101 557 101 557 -of which loans and advances to financial institutitons 22 435435 2 526 2 259 2 753 2 085 2 304 2 121 3 563 3 563 -of which loans and and advances to customers 106106 804804 104 097 103 126 100 746 99 165 98 789 97 688 97 994 97 994 Loans incl. loans to SB1 BK and SB1 NK 154154 605605 151 989 148 755 146 073 144 703 143 438 140 965 138 342 138 342 Growth in loans and advances to cust. incl. loans in SB1 BK & NK past 12 months 5,85,8 %% 5,0 % 5,0 % 5,5 % 5,6 % 7,1 % 7,7 % 7,5 % 7,7 % Deposits 9696 503503 89 548 88 379 87 496 89 660 86 233 83 659 85 736 85 952 -of which deposits from financial institutions 11 847847 432 761 1 452 1 245 1 890 1 164 1 589 1 107 -of which deposits from customers 9494 656656 89 116 87 618 86 044 88 415 84 343 82 495 84 147 84 845 Growth in deposits from customers past 12 months 77,,11 %% 5,7 % 6,2 % 2,3 % 4,2 % 3,3 % 3,8 % 5,0 % 1,6 % Deposits as a percentage of gross lending 3 88,688,6 %% 85,6 % 85,4 % 83,4 % 87,8 % 85,1 % 83,5 % 86,1 % 86,6 % Deposits as a percentage of gross lending including loans in SB1 BK & NK 4 61,261,2 %% 58,6 % 58,2 % 57,8 % 60,5 % 58,3 % 57,5 % 59,7 % 61,3 % Average assets 5 139139 610610 137 352 132 721 131 984 130 909 129 850 127 155 126 909 126 302 Total assets 144144 127127 139 030 135 673 135 207 133 027 131 562 128 138 128 728 129 838 2. Quar2. Quarter 2025ter 2025 | Result from the Group's quarterly accounts 29
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(Amounts in NOK million) 2Q252Q25 1Q25 4Q24 3Q24 2Q24 1Q24 4Q23 3Q23 2Q23 LLosses on loans and commitments in defosses on loans and commitments in defaultault Losses on loans to customers as a percentage of total lending incl. loans in SB1 BK & NK 0,020,02 %% 0,04 % 0,07 % 0,06 % 0,03 % 0,02 % 0,08 % 0,02 % -0,02 % Net comm. in default and at risk of loss as a per. of total lending incl. loans in SB1 BK & NK 0,940,94 %% 0,87 % 0,91 % 0,75 % 0,68 % 0,55 % 0,40 % 0,44 % 0,35 % SoliditySolidity Common Equity Tier 1 Capital 1313 822822 14 019 14 054 16 785 13 257 13 283 13 466 13 335 13 187 Tier 1 Capital 1515 499499 15 693 15 728 14 405 14 663 14 689 14 847 14 328 14 135 Own Funds 1717 604604 17 793 17 829 16 525 16 763 16 716 16 824 15 870 15 366 Risk exposure amount 8585 402402 86 039 83 678 82 970 80 888 80 148 78 527 75 942 75 408 Common Equity Tier 1 Capital 16,216,2 %% 16,3 % 16,8 % 15,7 % 16,4 % 16,6 % 17,1 % 17,6 % 17,5 % Tier 1 Capital Ratio 18,18,11 %% 18,2 % 18,8 % 17,4 % 18,1 % 18,3 % 18,9 % 18,9 % 18,7 % Total Capital Ratio 20,620,6 %% 20,7 % 21,3 % 19,9 % 20,7 % 20,9 % 21,4 % 20,9 % 20,4 % 1) The profit after tax in relation to average equity, calculated as a quarterly average of equity at 1 January and end quarterly equity. The Bank's hybrid tier 1 capital issued are classified as equity in the financial statements. However, when calculating the return on equity, hybrid tier 1 capital is treated as a liability and the associated interest costs are adjusted for in the result. 2) Total costs as a percentage of total net income 3) Deposits from customers as a percentage of gross lending 4) Deposits from customers in percentage of total lendring incl. loans in SB1 BK & NK 5) Average assets are calculated as average assets each quarter and at 01.01. and 31.12. 2. Quar2. Quarter 2025ter 2025 | Result from the Group's quarterly accounts 30
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Notes Note 1 Accounting policies SpareBank 1 Nord-Norge prepares its quarterly financial statements in accordance with the Accounting Act § 3-9, the Securities T rading Act (§5-6), r egulations to the Accounting Act, including the Regulation on Annual Accounts for Banks, Credit Institutions, and Financing Institutions (Chapter 8), and international financial reporting standards (IFRS accounting standards) approved by the EU and Norwegian authorities, including IAS 34 - Interim Financial Reporting. Quarterly financial statements are not as comprehensive as annual financial statements and should be read in conjunction with the annual financial statements for 2024, where principles, classifications, valuation methods, models, and other aspects of the accounting items are described and explained. The group has applied the same accounting principles and calculation methods in this quarterly reporting as in the last annual financial statements, except for IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments – Disclosures, which have been amended with effect from 2025. Note 2 Important accounting estimates and discretionary judgements LLosses on loansosses on loans SpareBank 1 Nord-Norge uses a model to calculate Expected Credit Loss (ECL) in accordance with IFRS 9. A detailed description of the ECL model is provided in Note 13 of the annual financial statements. The results of the ECL calculation are presented in Notes 8 and 11 of the quarterly financial statements. The model’s base data for the quarter has been updated in line with the latest Monetary Policy Report from Norges Bank. The weighting of macroeconomic scenarios was changed from 80/15/5 per cent to 75/20/5 per cent in the first quarter. The macroeconomic situation during the quarter was assessed to have not changed significantly compared to the previous quarter. Some adjustments have also been made to customers on the watchlist this quarter. 2. Quar2. Quarter 2025ter 2025 | Notes 31
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Sensitivity AnalySensitivity Analysissis The table below shows the calculated ECL for the three applied scenarios in isolation. The calculations are distributed across the main segments of retail customers and corporate customers, which together sum up to the parent bank. In addition to segment-distributed ECL under the applied scenario weighting (75/20/5 per cent), the table presents two alternative scenario weightings, with adjustments to the probability of the expected scenario (80/15/5 per cent and 80/ 10/10 per cent). 30.06.2530.06.25 (Amount in NOK million) RM CM Parent bank SC1 ECL in Base cenario 58 194 325 787 383 982 SC2 ECL in Downturn scenario 118 840 851 978 970 818 SC3 ECL in Upturn scenario 40 080 183 870 223 951 ECL with used scenarioweightning 80/15/5% 70 994 423 560 494 554 Sensitivity:Sensitivity: ECL with alternative scenario weightning 75/20/5% 66 385 397 620 464 006 ECL with alternativw scenario weightning 80/10/10% 62 447 364 215 426 662 Note 3 Net interest income ParParent Bankent Bank GrGroupoup (Amount in NOK million) 2Q24 2Q252Q25 30.06.24 30.06.2530.06.25 30.06.2530.06.25 30.06.24 2Q252Q25 2Q24 InterInterest incomeest income 100 125125 203 240240 Interest income from loans to other credit institutions (amortized cost) 3333 17 1414 5 893 926926 1 774 11 841841 Interest income from loans to customers (amortized cost) 22 241241 2 140 11 126126 1 078 32 4242 88 8383 Interest income from loans to customers (fair value profit and loss) 8383 88 4242 32 565 556556 1 091 11 104104 Interest income from loans to customers (fair value other comprehensive income) 11 104104 1 091 556556 565 262 273273 531 526526 Interest income from certificates and bonds (fair value profit and loss) 526526 531 273273 262 1 852 11 922922 3 687 33 794794 TTotal interotal interest incomeest income 33 987987 3 867 22 011011 1 941 InterInterest costest cost 41 7474 83 139139 Interest cost on debt to other credit institutions (amortized cost) 127127 72 6161 34 626 679679 1 225 11 325325 Interest cost on debt to customers (amortized cost) 11 326326 1 224 680680 626 183 153153 385 298298 Interest cost on the issued securities (amortizes cost) 298298 407 153153 194 90 100100 178 198198 Interest cost on subordinated capital and debt (amortized cost) 198198 156 100100 79 940 11 006006 1 871 11 960960 TTotal interotal interest costest cost 11 949949 1 859 994994 933 13 1414 27 2828 Guarantee fund fee 2828 27 1414 13 899 902902 1 789 11 806806 Net interNet interest incomeest income 22 010010 1 981 11 003003 899 2,75 % 2,592,59 %% 2,76 % 2,632,63 %% Interest margin in relation to average total assets 2,882,88 %% 3,03 % 2,832,83 %% 3,01 % 2. Quar2. Quarter 2025ter 2025 | Notes 32
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Note 4 Net fee-, commission- and other operating income ParParent bankent bank GrGroupoup (Amounts in mill NOK) 2Q24 2Q252Q25 30.06.24 30.06.2530.06.25 30.06.2530.06.25 30.06.24 2Q252Q25 2Q24 50 6363 92 117117 Provision from SB1 BK & NK 117117 91 6363 50 70 7272 134 139139 Payment facilities 139139 134 7272 70 50 6161 98 115115 Sales provision insurance products 115115 98 6161 50 12 1313 23 2323 Guarantee commissions 2323 24 1313 12 Real estate broking 118118 105 6565 63 14 1313 27 2727 Portfolio commissions 2727 27 1313 14 18 1212 34 2626 Credit commision 2626 35 1212 18 4 44 7 77 Other commisions 22 4 00 1 217 237237 415 453453 Total commission income 567567 518 299299 278 17 2020 30 3434 Commission costs 4545 41 2525 21 200 217217 385 419419 Net fee- and commission income 522522 477 274274 257 Accounting services 192192 188 9595 90 1 11 2 22 Other operating income 22 6 11 4 201 219219 387 422422 Net fee- and other operating income 716716 671 370370 351 18 % 2020 %% 18 % 1919 %% Percent of net core earnings 2626 %% 25 % 2727 %% 26 % Note 5 Net income from financial investments ParParent bankent bank GrGroupoup (Amounts in mill NOK) 2Q24 2Q252Q25 30.06.24 30.06.2530.06.25 30.06.2530.06.25 30.06.24 2Q252Q25 2Q24 VValued at falued at fair value thrair value through prough proofit and lossfit and loss Income frIncome from equity capital instrumentsom equity capital instruments 59 4646 60 122122 Dividend from shares 122122 60 4646 59 97 154154 256 342342 Dividend from group companies, assosiated companies and joint ventures 3 33 3 33 Dividend from hybrid capital 11 1 11 1 Share result from assosiated companies and joint ventures (Equity-method) 231231 111 138138 45 - 23 9999 3 134134 Value changes and net gains from shares 136136 5 101101 - 21 Value changes and net gains from group companies, assosiated companies and joint ventures 00 0 00 0 Income frIncome from cerom certificates and bondstificates and bonds 19 1515 43 1616 Value changes and net gains from certificates and bonds 1616 44 1515 20 Income frIncome from financial derivativom financial derivativeses - 1 -- 99 - 1 -- 1111 Value changes and net gains from currencies and hedge derivatives -- 1010 - 1 -- 88 - 2 0 55 1 66 Value changes and net gains from fixed rate loans to customers 66 1 55 0 154 313313 365 612612 Net income from fair value financial investments 502502 221 298298 102 2. Quar2. Quarter 2025ter 2025 | Notes 33
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Note 6 Expenses ParParent bankent bank GrGroupoup (Amounts in mill NOK) 2Q24 2Q252Q25 30.06.24 30.06.2530.06.25 30.06.2530.06.25 30.06.24 2Q252Q25 2Q24 112 123123 227 248248 Personel expenses 425425 393 205205 189 11 1212 23 2525 Pension costs 4141 35 2020 17 35 3737 66 7171 Social costs 9393 88 4747 46 158 172172 316 344344 TTotal perotal personnel costssonnel costs 559559 516 272272 252 83 126126 169 212212 IT expenses 225225 180 132132 89 40 3030 72 6565 Other administrative expenses 9696 90 5353 48 15 1818 30 3333 Ordinary depreciation 4343 43 2222 20 5 66 10 1111 Operating costs properties 1616 11 77 5 27 2727 54 4646 Other operating expenses 8484 93 4545 46 328 379379 651 711711 TTotal costsotal costs 11 023023 933 531531 460 2. Quar2. Quarter 2025ter 2025 | Notes 34
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Note 7 Leases On a lease’s start date, the Group recognises a liability to pay rent and an asset that represents the right to use the underlying asset during the term of the lease (‘right-of-use asset’). The Group sets the lease liabilities and ‘right-of-use assets’ at the present value of the remaining rent payments, discounted with the aid of the Group’s marginal loan rate. Interest costs on the lease liability are recognised as costs on an ongoing basis and the right-of-use asset is depreciated on a straight-line basis over the term of the lease. The Group’s leased assets mainly include branches and naturally associated premises. Many of the contracts include the right to an extension that can be exercised during the term of the contract. The Group assesses, upon entering into a contract and thereafter continually, whether the right to the extension will, with reasonable certainty, be exercised. The terms of leases have varying durations and option structures. As a general rule, the companies within the Group are co-located in financial centers. Previously, the parent bank treated the re-invoicing of rent as a financial transaction, splitting the lease liability between the companies involved in the lease agreement. Following a review of the Group’s lease contracts during 2Q25, the re-invoicing in accordance with IFRS 16 has been changed and is now recorded operationally. Consequently, 2Q25 reflects an adjustment in the parent bank’s lease liability and corresponding right-of-use asset, indicating that the entire liability and right-of-use asset have been recognized in the parent bank. This effect is eliminated at the Group level, and therefore has no impact on the consolidated financial statements. 2. Quar2. Quarter 2025ter 2025 | Notes 35
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ParParent bankent bank GrGroupoup (Amounts in NOK million) 31.12.24 30.06.2530.06.25 30.06.2530.06.25 31.12.24 Right to use assetRight to use asset 303 296296 Carrying amount 01.01. 369369 374 12 6060 Additions 6060 59 -3 00 -Derecognition 00 -3 19 196196 Other changes 1616 -22 331 552552 CarrCarrying amountat the end oying amountat the end of the periodf the period 445445 408 35 2121 Depreciation in the period 2020 39 296 531531 CarrCarrying amount oying amount of right to use asset at the end of right to use asset at the end of the periodf the period 425425 369 LLease liabilityease liability 313 308308 Carrying amount 01.01. 384384 388 12 5555 Additions 5555 59 -40 --2222 Lease payments in the period --2424 -46 7 55 Interest 66 10 16 196196 Other changes 1616 -27 308 542542 LLease liability at the end oease liability at the end of the periodf the period 436436 384 PrProofit and lossfit and loss 35 2121 Depreciation 2020 39 7 55 Interest 66 10 42 2626 TTotal lease eotal lease expencexpence 2626 49 Undiscounted lease liabilities and maturity oUndiscounted lease liabilities and maturity of cash outflof cash outflowwss 39 6262 Less than 1 year (this year) 5151 45 33 5959 1-2 years 5151 44 32 5858 2-3 years 4848 43 31 5656 3-4 years 4545 40 30 5454 4-5 years 4040 35 186 349349 More than 5 years 292292 246 351 638638 TTotalotal 527527 453 2. Quar2. Quarter 2025ter 2025 | Notes 36
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Note 8 Losses ParParent Bankent Bank GrGroupoup (Amounts in NOK million) 2Q24 2Q252Q25 30.06.24 30.06.2530.06.25 30.06.2530.06.25 30.06.24 2Q252Q25 2Q24 LLosses incorporated in the accountsosses incorporated in the accounts 43 -- 33 60 99 Period's change in individual lending provisions -- 1212 75 -- 2020 48 - 38 -- 3838 - 30 44 Period's change in modelbased lending provisions -- 55 - 35 -- 5050 - 36 2 1717 10 2020 Period's confirmed losses 4848 14 4242 4 - 1 -- 11 - 3 -- 22 Recoveries, previously confirmed losses -- 44 - 4 -- 22 - 2 7 -- 2525 38 3131 TTotal lossesotal losses 2727 51 -- 3030 15 LLosses brosses brokoken doen down bwn by sector and industry sector and industryy - 5 -- 1313 - 9 00 Agriculture, forestry and fishin 11 - 9 -- 1212 - 4 0 00 0 00 Mining and quarrying 00 0 00 0 - 4 -- 55 - 6 -- 44 Manufacturing -- 33 - 7 -- 55 - 6 - 1 -- 11 - 2 -- 11 Electricity, gas, steam and air conditioning supply -- 11 - 2 00 - 1 0 00 0 00 Water supply, sewerage, waste managment and remediation activities 00 0 00 0 15 77 44 77 Construction 44 48 77 20 1 -- 33 0 44 Wholesale and retail trade, repair of motor vehicles and motorcycles -- 1010 4 -- 1717 5 2 55 - 1 44 Transporting and storage 55 - 2 66 2 0 -- 55 - 1 00 Accommodation and food service activities 00 0 -- 55 1 0 00 0 00 Information and communication 00 0 00 0 - 11 22 - 11 11 Financial and insurance activities 11 - 11 22 - 11 17 -- 77 27 1515 Real estate activities 1515 27 -- 77 13 - 5 -- 11 - 7 22 Professional, scientific and technical activities 22 - 8 -- 11 - 6 0 -- 22 - 2 -- 11 Administrative and support service activities 66 3 77 5 0 00 0 00 Public administration and defence; compulsory social security 00 0 00 0 0 00 0 00 Education 00 0 00 0 0 00 0 -- 11 Human health and social work activities -- 11 0 00 0 0 -- 22 0 -- 22 Arts, entertainment and recreation -- 22 - 1 -- 11 0 0 00 - 1 00 Other services activities 00 - 1 00 0 0 00 0 00 Activities of households as employers; undifferentiated goods - and services - producing activities of households for own use 00 0 00 0 0 00 0 00 Activities of extraterritorial organisations and bodies 00 0 00 0 8 -- 2424 30 2424 Total corporate market 1919 41 -- 2929 15 - 1 -- 11 8 77 Total retail market 88 10 -- 11 0 7 -- 2525 38 3131 TTotal lossesotal losses 2727 51 -- 3030 15 Isolatet loss effIsolatet loss effects comparects compared to last quared to last quarter 1Q25ter 1Q25 (Amounts in NOK million) RM CM SumSum SumSum RM CM 0 - 8 -- 88 Change ECL due to period growth and migration -- 1717 0 - 17 1 - 31 -- 3030 Change ECL due to adjusted key assumptions -- 3333 0 - 33 0 0 00 Change ECL due to changed scenario weighting 00 0 0 1 - 39 -- 3838 Change in model-based loss prChange in model-based loss proovisions (stage 1 and 2)visions (stage 1 and 2) -- 5050 0 - 50 - 3 - 1 -- 44 Change individual loss provisions (stage 3) -- 2020 - 3 - 17 1 16 1717 Change write-offs 4040 2 38 - 1 - 24 -- 2525 TTotal loss effotal loss effectsects -- 3030 - 1 - 29 2. Quar2. Quarter 2025ter 2025 | Notes 37
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Note 9 Business Areas The table shows SpareBank 1 Nord-Norge's segment's pursuant to IFRS 8. For more information see note 4 in annual report 2024. GrGroupoup 30.06.2530.06.25 (Amounts in NOK million) Retail market Corporate banking SpareBank 1 Regnskaps-huset Nord-Norge Eiendoms- Megler 1 Nord- Norge SpareBank 1 Finans Nord- Norge Eliminations Unspecified Total Net interest income 867 771 - 1 3 201 0 171 2 010 Net fee- and other operating income 340 99 187 119 - 15 0 - 13 716 Net income from financial investments 0 - 5 0 0 0 0 507 502 Total costs 341 217 166 91 40 0 167 1 023 Result before losses 866 648 20 31 146 0 498 2 205 0 Losses 7 24 0 0 - 3 0 0 27 Result before tax 859 624 20 31 149 0 498 2 178 0 Total lending 49 141 56 045 0 0 10 058 -8 381 -6 006 109 238 Loss provision - 94 - 582 0 0 - 95 0 0 - 771 Other assets 0 0 413 151 0 0 35 096 35 660 Total assets per business area 49 047 55 463 413 151 9 963 -8 381 29 090 144 127 0 Deposits 51 738 42 291 0 43 0 - 74 585 94 656 Other liabilities and equity capital -2 691 13 173 413 108 9 963 8 455 20 050 49 471 Total equity and liabilities per business area 49 047 55 464 413 151 9 963 8 381 29 090 144 127 GrGroupoup 30.06.2430.06.24 (Amounts in NOK million) Retail market Corporate banking SpareBank 1 Regnskaps- huset Nord-Norge Eiendoms- Megler 1 Nord- Norge SpareBank 1 Finans Nord- Norge Unspecified/ Eliminations Total Net interest income 859 715 0 2 189 216 1 981 Net fee- and other operating income 311 93 188 149 - 12 - 14 671 Net income from financial investments 0 9 0 0 0 212 221 Total costs 266 169 161 129 33 219 933 Result before losses 904 648 27 22 144 195 1 940 Losses - 1 52 0 0 13 - 13 51 Result before tax 905 596 27 22 131 208 1 889 Total lending 44 929 54 127 0 0 9 161 -4 719 103 498 Loss provision - 78 - 594 0 0 - 141 0 - 813 Other assets 0 0 421 149 0 29 772 30 342 Total assets per business area 44 851 53 533 421 149 9 020 25 053 133 027 Deposits 48 229 39 625 0 39 0 522 88 415 Other liabilities and equity capital -3 379 13 908 421 110 9 020 24 532 44 612 Total equity and liabilities per business area 44 850 53 533 421 149 9 020 25 054 133 027 2. Quar2. Quarter 2025ter 2025 | Notes 38
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Note 10 Loans LLoans at amoroans at amortized costtized cost Loans held in a "hold to receive" business model are measured at amortized cost. For all loans at amortized cost, the expected credit loss (ECL-expected credit loss) and loss provisions have been calculated according to IFRS 9. LLoans at foans at fair value thrair value through prough proofit and lossfit and loss Fixed-rate loans to customers are classified at fair value over profit or loss (Fair Value Option). LLoans at foans at fair value thrair value through other comprough other comprehensivehensive income (OCI)e income (OCI) The bank sells parts of the loans that qualify for transfer to SB1 Boligkreditt. Loans that are part of business models (portfolios) with loans that qualify for transfer are therefore held both to receive contractual cash flows and for sale. The bank therefore classifies mortgages at fair value through OCI. ParParent Bankent Bank GrGroupoup (Amount in NOK million) 31.12.24 30.06.2530.06.25 30.06.2530.06.25 31.12.24 LLoans to croans to credit institutions at amoredit institutions at amortised costtised cost 597 595595 Loans without agreed maturity or notice of withdrawal 596596 597 9 473 1010 145145 Loans with agreed maturity or notice of withdrawal 11 839839 1 797 10 070 1010 740740 LLoans to croans to credit institutionsedit institutions 22 435435 2 394 LLoans to customeroans to customers at amors at amortised costtised cost 54 340 5454 449449 Loans at amortised cost 6464 469469 63 843 54 340 5454 449449 LLoans to customeroans to customers at amors at amortised costtised cost 6464 469469 63 843 LLoans to customeroans to customers at fs at fair value thrair value through prough proofit and lossfit and loss 4 571 44 353353 Loans to customers at fixed interest rates 44 353353 4 571 LLoans to customeroans to customers at fs at fair value thrair value through OCIough OCI 34 240 3737 982982 Mortgages to customers 3737 982982 34 240 38 811 4242 335335 LLoans at foans at fair valueair value 4242 335335 38 811 93 151 9696 784784 TTotal grotal gross loans to customeross loans to customerss 106106 804804 102102 654654 103 221 107107 525525 TTotal grotal gross loansoss loans 109109 238238 105 048 LLoans transfoans transferered to SB1 Boligkred to SB1 Boligkreditt/SB1 Næringskreditt/SB1 Næringskr editteditt 47 840 4747 726726 Loans transrered to SB1 Boligkreditt 4747 726726 47 840 77 7575 Loans transfered to SB1 Næringskr editt 7575 77 47 917 4747 801801 TTotal loans transfotal loans transferered to SB1 BK and SB1 NKed to SB1 BK and SB1 NK 4747 801801 47 917 151 138 155155 325325 TTotal grotal gross loans included loans transfoss loans included loans transferered to SB1 BK and SB1ed to SB1 BK and SB1 NKNK 157157 039039 152 965 PrProovision fvision for cror credit losses - redit losses - reduction in assetseduction in assets - 100 -- 9696 Provision for credit losses - stage 1 -- 115115 - 114 - 289 -- 266266 Provision for credit losses - stage 2 -- 299299 - 335 - 312 -- 314314 Provision for credit losses - stage 3 -- 357357 - 377 92 450 9696 107107 Net loans to customerNet loans to customers es ex. loans transfx. loans transferered to Sb1 SB1 BK anded to Sb1 SB1 BK and SB1 NKSB1 NK 106106 032032 101 828 2. Quar2. Quarter 2025ter 2025 | Notes 39
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ParParent Bank 30.06.25ent Bank 30.06.25 (Amount in NOK million) LLending prending proovisionvision LLoans broans brokoken doen down bwn by sector/industry sector/industryy TTotalotal commitmentscommitments toto amoramortisedtised costcost LLending at fending at fairair valuevalue StageStage 11 StageStage 22 StageStage 33 NetNet loansloans Agriculture, forestry and fishing 11 290 318 - 7 - 68 - 43 11 489 Mining and quarrying 35 3 0 0 0 38 Manufacturing 1 940 42 - 3 - 18 - 25 1 935 Electricity, gas, steam and air conditioning supply 2 272 0 - 5 0 0 2 266 Water supply, sewerage, waste managment and remediation activities 150 3 0 0 0 153 Construction 2 118 169 - 9 - 15 - 37 2 225 Wholesale and retail trade, repair of motor vehicles and motorcycles 1 405 68 - 3 - 9 - 2 1 458 Transporting and storage 2 970 143 - 12 - 7 - 3 3 091 Accommodation and food service activities 710 27 - 1 - 3 - 7 725 Information and communication 37 31 0 0 - 2 65 Financial and insurance activities 12 886 3 - 7 - 11 0 12 872 Real estate activities 18 305 49 - 38 - 97 - 136 18 085 Professional, scientific and technical activities 1 002 62 - 5 - 3 - 3 1 053 Administrative and support service activities 436 85 - 2 - 3 - 1 515 Public administration and defence; compulsory social security 429 0 0 0 0 429 Education 63 62 0 - 1 - 1 123 Human health and social work activities 210 103 0 0 0 313 Arts, entertainment and recreation 334 67 0 - 1 - 3 398 Other services activities 304 46 - 1 0 0 349 Activities of households as employers; undifferentiated goods - and services - producing activities of households for own use 0 0 0 0 0 0 Activities of extraterritorial organisations and bodies 0 0 0 0 0 0 Corporate market 56 896 1 279 - 93 - 238 - 262 57 583 Retail market 8 293 41 055 - 4 - 28 - 51 49 265 TTotal loansotal loans 6565 189189 4242 335335 -- 9696 -- 266266 -- 314314 106106 848848 2. Quar2. Quarter 2025ter 2025 | Notes 40
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LLedning predning proovisionvision classified as debtclassified as debt Financial commitments brFinancial commitments brokoken doen down bwn by sector/industry sector/industryy Financial commitments toFinancial commitments to amoramortised costtised cost StageStage 11 StageStage 22 StageStage 33 TTotalotal Agriculture, forestry and fishin 1 601 - 2 - 3 0 - 5 Mining and quarrying 3 0 0 0 0 Manufacturing 591 - 1 - 4 - 1 - 6 Electricity, gas, steam and air conditioning supply 320 0 0 0 0 Water supply, sewerage, waste managment and remediation activities 17 0 0 0 0 Construction 926 - 8 - 3 0 - 11 Wholesale and retail trade, repair of motor vehicles and motorcycles 554 - 1 - 3 0 - 4 Transporting and storage 1 969 - 7 - 4 0 - 11 Accommodation and food service activities 67 0 0 0 0 Information and communication 30 0 0 0 0 Financial and insurance activities 215 0 0 0 0 Real estate activities 1 367 - 5 - 9 0 - 14 Professional, scientific and technical activities 126 0 - 1 0 - 1 Administrative and support service activities 69 0 0 0 0 Public administration and defence; compulsory social security 927 0 0 0 0 Education 7 0 0 0 0 Human health and social work activities 29 0 0 0 0 Arts, entertainment and recreation 56 0 0 0 0 Other services activities 86 0 0 0 0 Activities of households as employers; undifferentiated goods - and services - producing activities of households for own use 0 0 0 0 0 Activities of extraterritorial organisations and bodies 0 0 0 0 0 Corporate market 8 959 - 25 - 26 - 2 - 53 Retail market 1 654 0 0 0 0 TTotal loansotal loans 1010 613613 -- 2525 -- 2727 -- 22 -- 5353 2. Quar2. Quarter 2025ter 2025 | Notes 41
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GrGroup 30.06.25oup 30.06.25 (Amount in NOK million) LLending prending proovisionvision LLoans broans brokoken doen down bwn by sector/industry sector/industryy TTotal commitments tootal commitments to amoramortised costtised cost LLending atending at ffair valueair value StageStage 11 StageStage 22 StageStage 33 NetNet loansloans Agriculture, forestry and fishin 12 659 318 - 10 - 74 - 44 12 849 Mining and quarrying 68 3 0 0 0 71 Manufacturing 2 429 42 - 5 - 29 - 26 2 411 Electricity, gas, steam and air conditioning supply 2 303 0 - 5 - 1 0 2 296 Water supply, sewerage, waste managment and remediation activities 324 3 0 0 0 326 Construction 2 857 169 - 10 - 18 - 44 2 953 Wholesale and retail trade, repair of motor vehicles and motorcycles 1 889 68 - 6 - 11 - 4 1 936 Transporting and storage 4 011 143 - 15 - 11 - 7 4 121 Accommodation and food service activities 783 27 - 1 - 4 - 7 798 Information and communication 43 31 0 0 - 2 71 Financial and insurance activities 4 542 3 - 7 - 11 0 4 527 Real estate activities 18 406 49 - 36 - 97 - 136 18 186 Professional, scientific and technical activities 1 113 62 - 5 - 3 - 3 1 163 Administrative and support service activities 1 167 85 - 4 - 4 - 13 1 231 Public administration and defence; compulsory social security 456 0 0 0 0 456 Education 88 62 0 - 1 - 1 148 Human health and social work activities 226 103 0 0 0 329 Arts, entertainment and recreation 387 67 - 1 - 1 - 3 449 Other services activities 314 46 - 1 0 0 359 Activities of households as employers; undifferentiated goods - and services - producing activities of households for own use 0 0 0 0 0 0 Activities of extraterritorial organisations and bodies 0 0 0 0 0 0 Corporate market 54 066 1 279 - 108 - 265 - 291 54 682 Retail market 12 838 41 055 - 8 - 34 - 65 53 786 TTotal loansotal loans 6666 904904 4242 335335 -- 115115 -- 299299 -- 357357 108108 468468 2. Quar2. Quarter 2025ter 2025 | Notes 42
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LLedning predning proovisionvision classified as debtclassified as debt Financial commitments brFinancial commitments brokoken doen down bwn by sector/industry sector/industryy Financial commitments toFinancial commitments to amoramortised costtised cost StageStage 11 StageStage 22 StageStage 33 TTotalotal Agriculture, forestry and fishin 1 642 - 2 - 3 0 - 5 Mining and quarrying 3 0 0 0 0 Manufacturing 611 - 1 - 4 - 1 - 6 Electricity, gas, steam and air conditioning supply 320 0 0 0 0 Water supply, sewerage, waste managment and remediation activities 26 0 0 0 0 Construction 998 - 8 - 3 0 - 11 Wholesale and retail trade, repair of motor vehicles and motorcycles 774 - 1 - 3 0 - 4 Transporting and storage 2 022 - 7 - 4 0 - 11 Accommodation and food service activities 73 0 0 0 0 Information and communication 30 0 0 0 0 Financial and insurance activities 215 0 0 0 0 Real estate activities 1 367 - 5 - 9 0 - 14 Professional, scientific and technical activities 133 0 - 1 0 - 1 Administrative and support service activities 340 0 0 0 0 Public administration and defence; compulsory social security 927 0 0 0 0 Education 7 0 0 0 0 Human health and social work activities 29 0 0 0 0 Arts, entertainment and recreation 56 0 0 0 0 Other services activities 86 0 0 0 0 Activities of households as employers; undifferentiated goods - and services - producing activities of households for own use 0 0 0 0 0 Activities of extraterritorial organisations and bodies 0 0 0 0 0 Corporate market 9 659 - 25 - 26 - 2 - 53 Retail market 1 654 0 0 0 0 TTotal loansotal loans 1111 312312 -- 2525 -- 2727 -- 22 -- 5353 ParParent Bank 30.06.25ent Bank 30.06.25 (Amount in NOK million) TTotal loan commitments brotal loan commitments brokoken doen down bwn by stage oy stage of the crf the creditedit risk assessmentrisk assessment Stage 1Stage 1 Stage 2Stage 2 Stage 3Stage 3 TTotalotal Total loan commitments to amortised cost 01.01.25 96 522 13 864 1 610 111111 996996 Changes in the period due to loans migrated between the stages to (-from) stage 1 1 778 -1 770 - 8 00 to (-from) stage 2 -2 021 2 048 - 27 00 to (-from) stage 3 - 36 - 180 216 00 Net increase/(decrease) balance existing loans -4 972 - 635 - 31 -5-5 637637 Originated or purchased during the period 22 647 963 59 2323 669669 Loans that have been derecognised -10 768 -2 192 - 139 --1313 099099 Changes caused by modifications which hasn't resultet in a deduction 963 227 19 11 210210 TTotal loan commitments to amorotal loan commitments to amortised costtised cost 104104 115115 1212 324324 11 699699 118118 138138 Off-balance sheet -8 869 -1 708 - 36 --1010 613613 GrGross loansoss loans 9595 246246 1010 617617 11 663663 107107 525525 Provision for credit losses - reduction in assets - 96 - 266 - 314 -- 676676 Net loansNet loans 9595 149149 1010 350350 11 349349 106106 849849 2. Quar2. Quarter 2025ter 2025 | Notes 43
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GrGroup 30.06.25oup 30.06.25 (Amount in NOK million) TTotal loan commitments brotal loan commitments brokoken doen down bwn by stage oy stage of the crf the creditedit risk assessmentrisk assessment Stage 1Stage 1 Stage 2Stage 2 Stage 3Stage 3 TTotalotal Total loan commitments to amortised cost 01.01.25 96 998 15 807 1 767 114114 572572 Changes in the period due to loans migrated between the stages to (-from) stage 1 461 - 446 - 15 00 to (-from) stage 2 - 333 348 - 15 00 to (-from) stage 3 - 18 - 86 104 00 Net increase/(decrease) balance existing loans - 627 - 139 - 27 -- 793793 Originated or purchased during the period 1 938 104 6 22 048048 Loans that have been derecognised 6 608 -2 045 16 44 579579 Changes caused by modifications which hasn't resultet in a deduction 145 0 0 145145 TTotal loan commitments to amorotal loan commitments to amortised costtised cost 105105 172172 1313 542542 11 836836 120120 551551 Off-balance sheet -9 392 -1 877 - 43 --1111 312312 GrGross loansoss loans 9595 780780 1111 665665 11 793793 109109 238238 Provision for credit losses - reduction in assets - 115 - 299 - 357 -- 771771 Net loansNet loans 9595 665665 1111 366366 11 436436 108108 467467 Note 11 Loss provisions ParParent bankent bank GrGroupoup (Amount in NOK million) Stage 1Stage 1 Stage 2Stage 2 Stage 3Stage 3 TTotalotal Changes in lending loss prChanges in lending loss proovisionsvisions TTotalotal Stage 3Stage 3 Stage 2Stage 2 Stage 1Stage 1 -114 -306 -315 --735735 LLoss pross proovisions at 01.01.25visions at 01.01.25 -860-860 -379 -352 -128 -100 -289 -312 --701701 Of which presented as a reduction of the assets -826-826 -377 -335 -114 -14 -17 -3 -34-34 Of which presented as other debt -34-34 -3 -17 -14 Changes in the period due to loans migrating between stages: -36 36 0 00 to (-from) stage 1 00 1 42 -43 12 -14 2 00 to (-from) stage 2 00 3 -16 13 0 4 -4 00 to (-from) stage 3 00 -6 5 0 21 -67 -11 -57-57 Net increase/decrease excisting loans -68-68 -17 -75 24 -52 -41 -2 -94-94 New issued or purchased loan --100100 -2 -42 -56 28 71 9 108108 Loans that have been derecognised 147147 34 87 27 20 24 4 4949 Changes caused by modifications which hasn't resultet in deduction 5656 6 26 23 -121 -293 -316 --730730 TTotal loss protal loss proovisions as at 30.06.25visions as at 30.06.25 -825-825 -359 -326 -140 LLoss pross proovisions allocated to markvisions allocated to marketsets -4 -28 -51 -83-83 Retail market --108108 -65 -34 -8 -117 -265 -265 -647-647 Corporate market --717717 -293 -291 -132 -121 -293 -316 --730730 TTotal loss protal loss proovisions as at 30.06.25visions as at 30.06.25 -825-825 -359 -326 -140 -96 -266 -314 -676-676 Of which presented as a reduction of the assets --771771 -357 -299 -115 -25 -27 -2 -53-53 Of which presented as other debt -53-53 -2 -27 -25 Explanation of the table: • The changes during the period as a result of migration: Transfer between the stages due to a significant change in credit risk. • Net increase/decrease in balance: Changes in the expexted credit loss, changes in the model assumptions, effects of repayments, ascertainment and other changes that affect the balance. • Newly issued or purchased financial assets: Account numbers of customers that are only found in the closing balance in the ECL model. • Financial assets that have been derecognised: Account numbers of customers that are only found in the opening balance in the ECL 2. Quar2. Quarter 2025ter 2025 | Notes 44
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model. • Provisions for losses also include expected losses on assets not posted to the balance sheet, including guarantees and untapped credit limits, but not loan commitments Note 12 Financial instruments at fair value Financial assets and liabilities classified and measured at fair value are grouped into three different levels, depending on the reliability of the valuation method used: LLeevvel 1el 1: Utilizes quoted prices in active markets for such assets and liabilities. LLeevvel 2el 2: Relies on information that includes prices not directly quoted but are directly or indirectly observable for these assets and liabilities, including prices in inactive markets. LLeevvel 3el 3: When valuation based on Levels 1 and 2 is not available, proprietary valuation methods are employed, relying on non-observable information. StockStockss: Stocks in level 2 include hybrid capital held for sale to customers. The hybrid capital is valued based on observable interest rate curves and credit margins, as well as indicative market prices. Stocks in level 3 include ownership interests in companies where the bank has a minor ownership, and observable market data. The fair value in level 3 is therefore determined based on observable market data and estimated cash flows. BondsBonds: This category mainly includes bonds in the bank’s liquidity portfolio, which are considered less liquid (Level 2 assets when calculating the Liquidity Coverage Ratio, LCR). The bonds are valued based on observable interest rate curves and credit margins, as well as indicative market prices. Financial derivativFinancial derivatives:es: This category includes interest rate derivatives, currency swaps, currency forwards, and commodity derivatives. Interest rate derivatives are valued based on relevant interest rate curves. Currency derivatives are valued at the latest available rates. Commodity derivatives are valued based on observable market prices of the underlying commodities. LLoans:oans: Loans to customers with fixed interest rates The loans consist of fixed-rate loans in Norwegian kroner. The loans are valued based on discounted cash flow, where the discount rate is calculated with a margin over the interest rate curve (level 3). The margin is based on observable market prices. Mortgages to customers This category includes mortgages to customers that can be sold to SpareBank 1 Boligkreditt, and are valued at the agreed amount transferred to SpareBank 1 Boligkreditt (level 3). 2. Quar2. Quarter 2025ter 2025 | Notes 45
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RReceivable:eceivable: The group has a receivable valued at fair value (level 3), related to the sale of SNN Pension Fund. The receivable is valued by an external valuer based on the agreed consideration in the sales agreement. GrGroupoup (Amounts in NOK million) Assets at 30.06.25Assets at 30.06.25 LLeevvel 1el 1 LLeevvel 2el 2 LLeevvel 3el 3 TTotalotal Shares 945 164 556 11 664664 Bonds 23 800 2323 800800 Financial derivatives 1 418 11 418418 SNN Pensjonskasse receivable 255 255255 Loans to customers with fixed rate 4 353 44 353353 Loans at fair value through OCI 37 982 3737 982982 TTotal assetsotal assets 945 25 382 43 146 6969 471471 Liabilities at 30.06.25Liabilities at 30.06.25 Financial derivatives 992 992992 TTotal liabilitiesotal liabilities 992 992992 Assets at 31.Assets at 31.12.2412.24 Level 1 Level 2 Level 3 Total Shares 780 164 583 1 527 Bonds 0 19 235 19 235 Financial derivatives 1 532 1 532 SNN Pensjonskasse receivable 255 255 Loans to customers with fixed rate 4 571 4 571 Loans at fair value through OCI 34 240 34 240 Total assets 780 20 931 39 649 61 360 Liabilities at 31.Liabilities at 31.12.2412.24 Financial derivatives 1 086 1 086 Total liabilities 1 086 1 086 Changes in instruments at fChanges in instruments at fair value, leair value, levvel 3:el 3: Financial assetsFinancial assets (Amounts in NOK million) Shares SNN Pensjonskasser eceivable Loans to customers with fixed rate Loans at fair value through OCI Carrying amount at 31.12.24 583 255 4 571 34 240 Net gains on financial instruments - 27 100 0 Additions/acquisitions 205 0 Sales -1 915 Matured - 524 5 656 Carrying amount at 30.06.25 556 255 4 353 37 982 2. Quar2. Quarter 2025ter 2025 | Notes 46
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Note 13 Subsidiaries, associated companies and joint ventures RResult fresult from subsidiaries fully consolidated into the grom subsidiaries fully consolidated into the group financial statementsoup financial statements (Amount in NOK mill.) Result after tax Company Share 30.06.2530.06.25 30.06.24 2Q252Q25 2Q24 SpareBank 1 Nord-Norge Portefølje AS 100 % 00 0 00 0 Fredrik Langes Gate 20 AS 100 % -- 77 3 -- 88 2 SpareBank 1 Finans Nord-Norge AS 85 % 114114 100 6161 50 SpareBank 1 Regnskapshuset Nord-Norge AS 85 % 1515 21 1111 11 EiendomsMegler 1 Nord-Norge AS 85 % 2424 17 1616 18 Finansmodell AS (Sub subsidiary) 75 % 00 1 00 0 TTotalotal 146146 142 7979 81 RResult fresult from associated companies and joint vom associated companies and joint venturentures consolidated into the gres consolidated into the group financial statements accoroup financial statements according to the equity methodding to the equity method (Amount in NOK mill.) Result after tax Booked value Company Share 30.06.2530.06.25 30.06.24 2Q252Q25 2Q24 30.06.2530.06.25 31.12.24 SpareBank 1 Mobilitet Holding AS 30,66 % 00 0 00 0 00 0 SpareBank 1 Gruppen AS 19,50 % 173173 40 114114 1 22 571571 2 401 Kredittbanken ASA 13,18 % 22 - 2 22 1 414414 413 SpareBank 1 Boligkreditt AS 16,30 % 2828 47 1212 24 22 662662 2 196 SpareBank 1 Næringskr editt AS 0,58 % 00 1 00 0 88 9 SpareBank 1 Utvikling DA 18,00 % 00 0 00 0 144144 144 SpareBank 1 Bank og Regnskap AS 25,00 % 55 4 11 3 4646 43 SpareBank 1 Forvaltning AS 12,08 % 1515 13 88 7 167167 151 SpareBank 1 Gjeldsinformasjon AS 13,83 % 00 0 00 0 11 1 SpareBank 1 Betaling AS 17,94 % -- 99 - 14 -- 66 - 4 204204 212 SpareBank 1 Markets AS 18,06 % 1717 23 88 12 362362 411 TTotalotal 231231 111 138138 45 66 579579 5 981 Note 14 Other assets ParParent bankent bank GrGroupoup (Amounts in NOK million) 31.12.24 30.06.2530.06.25 30.06.2530.06.25 31.12.24 18 1616 Accrued income 9595 89 0 00 Goodwill and other intangible assets 193193 193 0 00 Deferred tax 00 0 386 453453 Prepayments** 505505 427 129 107107 Other assets* 244244 252 533 576576 TTotal other assetsotal other assets 11 037037 961 * The item includes NOK 75 million in capital contributions to SNN Pensjonskasse for both 2024 and 2Q25. ** The item includes receivables from SNN Pensjonskasse assessed at fair value in accordance with IFRS 9. In 2024 and 2Q25, this amounts to MNOK 255 2. Quar2. Quarter 2025ter 2025 | Notes 47
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Note 15 Financial derivatives ParParent Bank and Grent Bank and Groupoup (Amounts in NOK million) Fair value hedging transactionsFair value hedging transactions 30.06.2530.06.25 31.12.24 Net loss charged to the statement of comprehensive income in respect of hedging instruments in connection with actual value hedging 5050 102 Total gain from hedging objects relating to the hedged risk -- 5858 - 107 TTotal fotal fair value hedging transactionsair value hedging transactions -- 88 - 6 The Bank's main Board of Directors has determined limits for maximum risk for the Bank's interest rate positions. Routines have been established to ensure that positions are maintained within these limits. (Amounts in NOK million) Fair value thrFair value through statement oough statement of comprf comprehensivehensive incomee income 30.06.2530.06.25 31.12.24 Fair valueFair value Fair value FFororeign curreign currency instrumentsency instruments ContractContract AssetsAssets LiabilitesLiabilites Contract Assets Liabilites Foreign exchange financial derivatives (forwards) 22 086086 4242 2727 2 832 13 42 Currency swaps 99 831831 136136 4848 10 808 92 55 Total non-standardised contracts 1111 917917 178178 7575 13 640 105 97 Standardised foreign currency contracts (futures) Total foreign currency instruments 1111 917917 178178 7575 13 640 105 97 InterInterest rate instrumentsest rate instruments Interest rate swaps (including cross currency) 4545 183183 11 034034 723723 55 908 1 229 753 Other interest rate contracts 756756 3535 3232 798 29 26 Total non-standardised contracts 4646 189189 11 069069 755755 57 356 1 259 780 Standardised interest rate contracts (futures) Total interest rate instruments 4646 189189 11 069069 755755 57 356 1 259 780 Hedging oHedging of funding loansf funding loans InterInterest rate instrumentsest rate instruments ContractContract AssetsAssets LiabilitesLiabilites Contract Assets Liabilites Interest rate swaps (including cross currency) 1212 125125 171171 162162 11 677 167 214 Total, non-standardised contracts 1212 125125 171171 162162 11 677 167 214 Standardised interest rate contracts (futures) Total interest rate instruments 1212 125125 171171 162162 11 677 167 214 Total interest rate instruments 5858 314314 11 240240 917917 69 033 1 426 994 Total foreign currency instruments 1111 917917 178178 7575 13 640 105 97 TTotalotal 7070 231231 11 418418 992992 82 673 1 532 1 086 2. Quar2. Quarter 2025ter 2025 | Notes 48
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Note 16 Deposits ParParent Bankent Bank GrGroupoup (Amounts in NOK million) 31.12.24 30.06.2530.06.25 30.06.2530.06.25 31.12.24 Deposits frDeposits from crom credit institutionsedit institutions 308 434434 Deposits without agreed maturity 434434 308 455 11 414414 Deposits with agreed maturity 11 413413 453 763 11 848848 TTotal deposits frotal deposits from crom credit institutionsedit institutions 11 847847 761 Deposits frDeposits from customerom customerss 79 198 8686 188188 Deposits without agreed maturity 8686 138138 79 096 8 529 88 523523 Deposits with agreed maturity 88 518518 8 522 87 727 9494 711711 TTotal deposits frotal deposits from customerom customerss 9494 656656 87 618 88 490 9696 559559 TTotal depositsotal deposits 9696 503503 88 379 Deposits frDeposits from customerom customers brs brokoken doen down bwn by NAy NACECE 5 343 55 438438 Agriculture, forestry and fishin 55 438438 5 343 67 5454 Mining and quarrying 5454 67 1 139 690690 Manufacturing 690690 1 139 500 473473 Electricity, gas, steam and air conditioning supply 473473 500 305 262262 Water supply, sewerage, waste managment and remediation activities 262262 305 2 239 11 806806 Construction 11 806806 2 239 2 254 22 351351 Wholesale and retail trade, repair of motor vehicles and motorcycles 22 351351 2 254 1 839 33 129129 Transporting and storage 33 129129 1 839 715 719719 Accommodation and food service activities 719719 715 526 712712 Information and communication 712712 526 6 378 66 219219 Financial and insurance activities 66 219219 6 378 3 589 44 168168 Real estate activities 44 168168 3 589 1 718 11 761761 Professional, scientific and technical activities 11 761761 1 718 1 767 11 863863 Administrative and support service activities 11 863863 1 767 8 013 1010 887887 Public administration and defence; compulsory social security 1010 887887 8 013 380 479479 Education 479479 380 1 275 00 Human health and social work activities 00 1 275 1 488 11 609609 Arts, entertainment and recreation 11 609609 1 488 2 142 22 272272 Other services activities 22 217217 2 033 27 2929 Activities of households as employers; undifferentiated goods - and services - producing activities of households for own use 2929 27 3 22 Activities of extraterritorial organisations and bodies 22 3 41 707 4444 923923 Total public market 4444 868868 41 598 46 020 4949 788788 Retail market 4949 788788 46 020 87 727 9494 711711 TTotal deposits frotal deposits from customerom customerss 9494 656656 87 618 Note 17 Securities issued ParParent Bank and Grent Bank and Groupoup (Amounts in NOK million) Booked value BookBookeded valuevalue Changes in securities issuedChanges in securities issued 31.12.24 Issued Matured or redeemed Exchange rate movements Fair value changes Accrued interest 30.06.2530.06.25 Certificates and other short-term loans: Senior bonds 13 756 1 032 - 818 - 19 45 18 1414 014014 Senior bondsSenior bonds 13 756 1 032 - 818 - 19 45 18 1414 014014 2. Quar2. Quarter 2025ter 2025 | Notes 49
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Note 18 Other liabilities ParParent bankent bank GrGroupoup (Amounts in NOK million) 31.12.24 30.06.2530.06.25 30.06.2530.06.25 31.12.24 2 957 22 705705 Other liabilities 22 764764 3 181 182 202202 Costs incurred 300300 277 40 4040 Deferred tax liabilities 193193 187 33 5555 Off balance loss provision 5555 33 3 212 33 002002 TTotal other liabilitiesotal other liabilities 33 312312 3 678 Specification oSpecification of other liabilitiesf other liabilities 313 542542 Lease liabilites 436436 388 641 326326 Accrued tax 355355 703 14 1414 Tax deductions 1212 24 599 697697 Creditors 701701 640 1 060 882882 Agreed, not paid donations 882882 1 060 330 244244 Miscellaneous liabilities 378378 366 2 957 22 705705 Other liabilitesOther liabilites 22 764764 3 181 Note 19 Subordinated debt and loan capital ParParent Bank and Grent Bank and Groupoup (Amounts in NOK million) Booked value BookBookeded valuevalue Changes in suborChanges in subordinated loan capital anddinated loan capital and suborsubordinated bond debtdinated bond debt 31.12.2024 Issued Matured or redeemed Exchange rate movements Fair value changes Accrued interest 30.06.202530.06.2025 Subordinated loan capital 1 964 11 964964 Senior non-preferred 7 471 1 018 - 280 - 19 - 4 19 88 206206 SuborSubordinated loan capital and other senior non-dinated loan capital and other senior non- prprefeferrerreded 9 435 1 018 - 280 - 19 - 4 20 1010 170170 2. Quar2. Quarter 2025ter 2025 | Notes 50
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Note 20 Equity Total EC Capital 1.807.164.288 NOK, distributed on 100.398.016 EC's, each denomination NOK 18. ParParent bankent bank GrGroupoup (Amounts in NOK million) 31.12.24 30.06.2530.06.25 30.06.2530.06.25 31.12.24 1 807 11 807807 Paid-up capital 11 807807 1 807 843 843843 Premium Fund 843843 843 4 001 33 955955 Dividend Equalisation Fund 33 955955 4 001 878 00 Set aside EC dividend, not decided 00 878 - 42 -- 2020 Share of other equity 655655 637 801801 EC owner's share of period result 817817 7 487 77 386386 EEquity Cerquity Certificate Capitaltificate Capital 88 077077 8 166 46,35 % 46,3646,36 %% EC capital share of controlling equity, exscl. Hybrid capital 46,3646,36 %% 46,36 % 7 693 77 639639 Primary capital 77 639639 7 693 1 016 00 Set aside society dividend, not decided 00 1 016 - 47 -- 2323 Share of other equity 758758 737 926926 Society's share of period result 945945 8 662 88 542542 PrimarPrimary capitaly capital 99 342342 9 446 53,65 % 53,6453,64 %% Primary capital share of controlling equity, excl. hybrid capital 53,6453,64 %% 53,64 % Non-controlling interests 267267 277 1450 11 450450 Hybrid Capital 11 450450 1450 17 599 1717 378378 TTotal equity capitalotal equity capital 1919 136136 19 339 Hybrid CapitalHybrid Capital Six hybrid capital instruments issued by the Bank are not covered by the IFRS regulations' definition of debt and are therefore classified as equity. Based on this, accrued interest on the hybrid capital has not been recognised as a cost in the income statement but has been charged directly against equity. When calculating key figures for equity and the equity certificates, accrued interest on hybrid capital is thus deducted from the accounting result. At the same time, hybrid capital is deducted from the equity on the balance sheet. This ensures that the keyfigures relevant to the Bank's owners are calculated on the basis of the result and the equity that actually belong to the owners. The contract terms and conditions for hybrid instruments mean that they are included in the Bank’s Tier 1 capital for capital adequacy purposes, see note 21. ParParent bank and grent bank and groupoup (Amounts in NOK million) Hybrid CapitalHybrid Capital 30.06.2530.06.25 31.12.24 2099 3 m NIBOR + 2,80% 200200 200 2099 3 m NIBOR + 3,35% 200200 200 2099 3 m NIBOR + 3,10% 300300 300 2099 3 m NIBOR + 2,60% 350350 350 2099 3 m NIBOR + 3,40% 200200 200 Fixed interest rate 7,53 % 200200 200 TTotal hybrid capitalotal hybrid capital 11 450450 1 450 Average interest hybrid capital 77,60,60 %% 7,81 % 2. Quar2. Quarter 2025ter 2025 | Notes 51
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Equity Certificates (ECs) The 20 larThe 20 largest Egest EC holderC holders at 30.06.25s at 30.06.25 EEC HolderC Holderss Number oNumber of Ef Ecscs SharShare oe of Ef EC CapitalC Capital Skandinaviska Enskilda Banken AB 5 481 732 5,46% Verdipapirfond Eika Egenkapitalbevis 4 976 910 4,96% Geveran Trading Company Ltd 3 990 961 3,98% Kommunal Landspensjonskasse Gjensidige 3 775 422 3,76% Pareto Aksje Norge Verdipapirfond 3 311 177 3,30% MP Pensjonskasse 2 484 322 2,47% Brown Brothers Harriman & Co. 2 334 193 2,32% State Street Bank and Trust Comp 2 056 123 2,05% Sparebankstiftelsen SpareBank 1 Nord-Norge 1 851 730 1,84% Forsvarets Personellservice 1 582 221 1,58% State Street Bank and Trust Comp 1 411 606 1,41% Spesialfondet Borea Utbytte 1 410 180 1,40% Verdipapirfond SpareBank 1 Utbytte 1 305 000 1,30% State Street Bank and Trust Comp 1 140 900 1,14% Brown Brothers Harriman & Co. 940 498 0,94% State Street Bank and Trust Comp 902 404 0,90% Landkreditt Utbytte 811 129 0,81% Verdipapirfondet Heimdal Utbytte 800 000 0,80% Caceis Bank 721 243 0,72% The Bank of New York Mellon 711 121 0,71% TTotalotal 4141 998998 872872 41,83%41,83% Dividend policyDividend policy The Bank's dividend policy states that the Bank aims to provide a competitive direct return for the Bank's owners. The target dividend rate is at minimum 50%. The future distribution rate will also take into account the group's capital coverage and future growth. 2. Quar2. Quarter 2025ter 2025 | Notes 52
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TTrading statisticsrading statistics 2 576 9922 576 992 1 804 8101 804 8101 848 4881 848 488 1 508 2871 508 2871 580 8361 580 836 1 157 4241 157 424 1 657 5401 657 540 2 103 7862 103 786 1 589 0651 589 065 2 406 3412 406 341 2 157 4142 157 414 2 510 9242 510 924 3 130 1283 130 128 2 121 1542 121 154 1 814 6671 814 667 Apr-24May-24Jun-24Jul-24Aug-24Sep-24Oct-24Nov-24Dec-24Jan-25Feb-25Mar-25Apr-25May-25Jun-25 0 500 000 1 000 000 1 500 000 2 000 000 2 500 000 3 000 000 3 500 000 Price trPrice trend NONGend NONG Apr-24May-24Jun-24Jul-24Aug-24Sep-24Oct-24Nov-24Dec-24Jan-25Feb-25Mar-25Apr-25May-25Jun-25 20 40 60 80 100 120 140 160 2. Quar2. Quarter 2025ter 2025 | Notes 53
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Note 21 Capital Adequacy and MREL Starting from the second quarter of 2025, SpareBank 1 Nord-Norge will report Capital Adequacy under the new regulatory framework – Capital Requirements Regulation (CRR3). CRR3 is a further development of the previous CRR2 and entails significant changes in the calculation of capital requirements. The new framework includes, among other things, new risk weighting of exposures, new off-balance sheet categories, and a new calculation method for Operational Risk. In order for the period’s profit to be included in the capital adequacy reporting, there is a regulatory requirement that the quarterly financial statements must be audited. For the second quarter of 2025, the quarterly financial statements are not audited, and therefore 0 per cent of the period’s profit is included in the capital adequacy. Had the financial statements been audited, the bank would have been permitted to include up to 37.1 per cent of the period’s profit intra-year, and the Group’s Common Equity Tier 1 (CET1) capital ratio would have been 17.08 per cent. If 50 per cent of the period’s profit (in line with the current dividend policy) had been included, the Group’s CET1 capital ratio would have been 17.37 per cent. 2. Quar2. Quarter 2025ter 2025 | Notes 54
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ParParent Bankent Bank GrGroupoup (Amounts in NOK million) 31.12.24 30.06.2530.06.25 30.06.2530.06.25 31.12.24 EEquityquity 2 650 22 650650 Equity Certificate capital and premium reserve 22 650650 2 650 1 450 11 450450 Hybrid capital 11 450450 1 450 4 837 44 736736 Dividend Equalisation Fund 55 427427 5 516 8 662 88 542542 Primary capital 99 342342 9 446 0 00 Non-controlling interests 267267 277 17 599 1717 378378 TTotal equityotal equity 1919 136136 19 339 Tier 1 CapitalTier 1 Capital -1 450 --11 450450 Hybrid capital --11 450450 -1 450 -1 895 00 Deduction for allocated dividends 00 -1 895 0 --11 727727 Period result not eligible as CET1 capital --11 739739 0 0 00 Minority interests not eligible as CET1 capital -- 7979 - 103 0 00 Goodwill and other intangible assets --11 028028 -1 024 - 62 -- 7070 Adjustments to CET1 due to prudential filters -- 7979 - 71 0 -- 9797 IRB shortfall of credit risk adjustments to expected losses -- 177177 - 210 0 00 Deduction for significant investments in financial sector entities -- 435435 - 319 - 276 -- 276276 Deduction for non-significant investments in financial sector entities -- 205205 - 213 0 00 Deduction for treasury shares 00 0 0 00 Deduction for subordinated capital in other financial institutions with a significant investment -- 122122 0 13 812 1313 758758 Common ECommon Equity Tier 1 Capitalquity Tier 1 Capital 1313 822822 14 054 Additional Tier 1 CapitalAdditional Tier 1 Capital 1 450 11 450450 Hybrid capital 11 726726 1 722 - 49 -- 4949 Deduction for Tier 1 capital in other financial sector entities with a significant investment -- 4949 - 49 15 213 1515 159159 TTotal Tier 1 Capitalotal Tier 1 Capital 1515 499499 15 728 Tier 2 CapitalTier 2 Capital 1 950 11 950950 Non-perpetual subordinated capital 22 333333 2 328 0 00 Expected losses on IRB, net of writedowns 00 0 - 227 -- 227227 Deduction for subordinated capital in other financial institutions with a significant investment -- 228228 - 227 1 723 11 723723 Tier 2 CapitalTier 2 Capital 22 105105 2 101 16 936 1616 882882 Own FundsOwn Funds 1717 604604 17 829 2. Quar2. Quarter 2025ter 2025 | Notes 55
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ParParent Bankent Bank GrGroupoup (Amounts in NOK million) 31.12.24 30.06.2530.06.25 30.06.2530.06.25 31.12.24 Risk eRisk exposurxposure amounte amount 5 865 1111 973973 Corporates - SME 1212 208208 5 877 18 492 88 837837 Corporates - Specialised Lending 99 695695 19 476 866 55 227227 Corporates - Other 55 279279 909 13 019 1111 897897 Retail - Secured by real estate 1919 212212 22 910 1 108 11 742742 Retail - Other 11 838838 1 136 9 255 00 Equity IRB 00 0 48 605 3939 677677 CrCredit risk IRBedit risk IRB 4848 232232 50 308 0 108108 Central governments or central banks 297297 205 253 579579 Regional governments or local authorities 633633 303 0 22 Public sector entities 22 2 2 245 33 195195 Institutions 11 457457 1 265 2 989 33 613613 Corporates 66 748748 6 262 131 100100 Retail 55 304304 5 221 487 545545 Secured by mortgages on immovable property 11 554554 669 2 00 Exposures in default 316316 260 1 083 11 202202 Covered bonds 11 511511 1 482 0 250250 Collective investments undertakings (CIU) 11 1 4 862 1717 468468 Equity 66 469469 6 158 1 191 11 110110 Other assets 11 776776 1 822 13 241 2828 172172 CrCredit risk standaredit risk standardised apprdised approachoach 2626 069069 23 650 61 846 6767 849849 TTotal crotal credit riskedit risk 7474 301301 73 958 7 994 66 315315 Operational risk 88 143143 8 977 68 108108 Credit Value Adjustment 806806 672 0 00 Other risk exposure amounts 11 901901 0 0 00 Risk exposure amount for position, foreign exhange and commodities risks 252252 71 69 908 7474 272272 TTotal risk eotal risk exposurxposure amounte amount 8585 402402 83 678 5 593 55 942942 Minimum Requirement for Own Funds 66 832832 6 694 Capital Adequacy RatiosCapital Adequacy Ratios 19,8 % 18,518,5 %% Common Equity Tier 1 Capital 16,216,2 %% 16,8 % 21,8 % 20,20,44 %% Tier 1 Capital Ratio 18,18,11 %% 18,8 % 24,2 % 22,22,77 %% Total Capital Ratio 20,620,6 %% 21,3 % 11,1 % 9,89,8 %% Leverage Ratio 77,0,0 %% 7,8 % Own funds and eligible liabilities (MREL)Own funds and eligible liabilities (MREL) As part of the Financial Supervisory Authority of Norway’s work on resolution plans for Norwegian banks, SpareBank 1 Nord-Norge received an updated decision in December 2023 regarding the minimum requirement for own funds and eligible liabilities (MREL). A key element of the resolution framework is that capital instruments and debt can be written down and/or converted into equity through internal recapitalization (bail-in), ensuring that institutions have sufficient own funds and eligible liabilities to be resolved without the use of public funds. The bank’s effective MREL requirement as of 30.06.25 is set at 35.24 per cent, which is the sum of the MREL percentage of 25.77 per cent and a combined buffer requirement (CBR) of 9.47 per cent of the adjusted risk-weighted exposure amount (TREA) applicable at any given time. 2. Quar2. Quarter 2025ter 2025 | Notes 56
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In 2025, the Group must also meet the full minimum requirement for subordinated instruments, which as of 30.06.25 is 28.27 per cent. Subordination means that part of the requirement must be met with own funds or debt instruments with priority that meets the requirements of Section 20-32(1) no. 4 of the Financial Institutions Act. The minimum requirement can therefore only be met with own funds and subordinated debt. Up to and including 2023, the difference between the effective MREL requirement and the subordination requirement could be met with all unsecured senior debt with a maturity of at least 12 months. In 2025, this difference can only be met with unsecured senior debt that satisfies the requirements of Section 20-7a, first paragraph, of the Financial Institutions Regulation. The table below presents the applicable weighted requirements and the bank’s compliance with them. GrGroupoup (Amounts in NOK million) 30.06.2530.06.25 31.12.24 Own funds and eligible liabilitiesOwn funds and eligible liabilities Own funds and eligible liabilities including eligible YTD results (excl. SB1 Boligkreditt and SB 1 Næringskr editt) 1414 531531 15 314 Senior non-preferred (SNP) - over 12 mths 66 580580 6 576 Senior preferred (SP) - over 12 mths 77 453453 7 503 Total own funds and eligible liabilities 2828 564564 29 393 Total risk exposure amount (TREA) of the resolution group 7272 945945 71 134 Own funds and eligible liabilities as perOwn funds and eligible liabilities as percentage ocentage off the total risk ethe total risk exposurxposure amounte amount Own funds and eligible liabilities 39,39,1616 %% 41,32 % Own funds and SNP 28,9428,94 %% 30,77 % MREL rMREL requirequirement eement exprxpressed as nominal amountessed as nominal amount Total MREL requirement 35,2435,24 %% 35,22 % Total subrogation (linear phasing-in requirement) 28,2728,27 %% 28,26 % Surplus (+) / deficit (-) of MREL capital 3,923,92 %% 6,10 % Surplus (+) / deficit (-) of subrogation 0,670,67 %% 2,51 % Note 22 Liquidity risk Definition, management, and control of liquidity risk are described in Note 6, section 2.2 of the annual financial statements. GrGroupoup 30.06.2530.06.25 31.12.24 Avarage remaining term to maturity debt securities (year's) 2,2,7070 2,86 Liquidity Coverage Ratio (LCR) 142142 147 Net Stable Funding Risk (NSFR) Total 117117 120 Note 23 Changes to group structure There has been no significant changes to the Group`s structure in the second quarter of 2025. 2. Quar2. Quarter 2025ter 2025 | Notes 57
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Note 24 Events occuring after the end of the quarter There are no other matters of material significance to the quarterly financial statements during the period leading up to the Board’s final approval of the accounts. 2. Quar2. Quarter 2025ter 2025 | Notes 58
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Statement by the Board of Directors and the Group CEO The Board of Directors and the Group CEO have today reviewed and approved the quarterly report and consolidated quarterly financial statements for SpareBank 1 Nord-Norge for the period April 1 to June 30, 2025, and January 1 to June 30, 2025. We hereby declare, to the best of our knowledge, that the quarterly financial statements have been prepared in accordance with applicable accounting standards, and that the information provided gives a true and fair view of the Group’s assets, liabilities, financial position, and overall results. Furthermore, we confirm that the interim report provides a fair overview of important events during the reporting period and their impact on the interim financial statements, the most significant risk and security factors the business faces in the next accounting period, as well as material related- party transactions. Tromsø, 07 .08.25 The BoarThe Board od of Dirf Directorectors and Grs and Group CEoup CEO oO of Sparf SpareBank 1 NoreBank 1 Nord-Nord-Norgege 2. Quar2. Quarter 2025ter 2025 | Statement by the Board of Directors and the Group CEO 59