SpareBank 1 SR-Bank

Contacts 
    Address  4007, Norway, STAVANGER, Bjergsted Terrasse 1
    Website  http://www.sr-bank.no
Member of Group  SpareBank1 (Norway)
Bank Identifiers 
    Company Number  937895321
Bank Category  Savings bank
Credit Ratings (as of Dec 2014) 
    Fitch  A- (high credit quality)
    Moody's  A2 (upper medium grade)
    S&P's  - (not rated)
Deposit Guarantee  Yes (up to 2 000 000 NOK per depositor)
Start Date  01 January 2006
Financial Positions 
    Total Assets (2014)  173.29 bln NOK ↑ (+11.38%)
    Total Equity (2014)  13 797.00 mln NOK ↑ (+8.60%)
Profit and Loss 
    Operating Income (2014)  2 252.00 mln NOK ↓ (-1.87%)
    Annual Profit (2014)  1 806.00 mln NOK ↓ (-1.74%)

Bank Identifiers

Any bank can be identified for different purposes and hence can have several different identifiers.

Company Registration Number

Company Registration Number is a distinctive code issued upon registration of a new company. This code can be used to find data about the company in a national company register.

Company Registration Number  937895321

Credit Ratings

Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government.
Of the 'Big Three' rating agencies, SpareBank 1 SR-Bank is rated by Fitch and Moody's.

Credit ratings assigned to SpareBank 1 SR-Bank as of December 2014 are shown in details in the following sections.

Fitch

Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for SpareBank 1 SR-Bank it is set to A- (high credit quality), outlook is stable (not likely to change). The rating is not on watch. Short-term issuer default rating for SpareBank 1 SR-Bank is set to F2 (good short-term credit quality).

Long-Term Issuer Default Rating  A-
    Outlook  stable
    On Watch  No
Short-Term Issuer Default Rating  F2
Viability Rating  a-
Support Rating  3
Support Rating Floor  BB+

Viability rating for SpareBank 1 SR-Bank is set to a- (high fundamental credit quality); support rating is 3 (moderate probability of support); support rating floor is BB+ (speculative).

Moody's

Long-term rating is for SpareBank 1 SR-Bank it is set to A2 (upper medium grade). Long-term bank deposit rating is A2 (upper medium grade). Bank financial strength rating is C- (adequate intrinsic financial strength). Short-term rating is not assigned.

Long-Term Rating  A2
Long-Term Bank Deposit Rating  A2
Bank Financial Strength Rating  C-
Short-Term Rating  -
Outlook  negative

Outlook for the ratings of SpareBank 1 SR-Bank is set to negative (may be lowered).

Deposit Guarantee

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

All credit institutions operating in Norway are obliged to participate in Norwegian deposit guarantee scheme.

In the case of SpareBank 1 SR-Bank failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Eligible Depositors  natural persons, legal entities
Covered Accounts  any credit balance on a named account, and any debt evidenced by a certificate of deposit issued to a named person
Maximum Protected Amount  2 000 000 NOK
Paid In Currency  NOK

Further Information: Deposit Guarantee Scheme in Norway

Financial Positions

In 2014 total assets of SpareBank 1 SR-Bank were 173.29 bln NOK. Growth compared to the previous period (2013) was 11.38%. The evolution of the total assets of SpareBank 1 SR-Bank is shown at Chart 1 below.

Total Assets of SpareBank 1 SR-Bank.
Chart 1. Total Assets of SpareBank 1 SR-Bank.

Recent changes in total assets of SpareBank 1 SR-Bank and its main components are shown in Table 1.

2013 2014 % Change
Cash and deposits with Central Banks 1.3 1.8 +46.01% ↑
Loans to banks 6.7 8.1 +21.71% ↑
Loans to customers 114.0 134.8 +18.26% ↑
Total Assets 155.6 173.3 +11.38% ↑
Table 1. Recent changes in total assets of SpareBank 1 SR-Bank (bln NOK).

Recent changes in total liabilities of SpareBank 1 SR-Bank and its main components are shown in Table 2.

2013 2014 % Change
Bank deposits 10.2 6.1 -39.61% ↓
Customer deposits 71.8 81.7 +13.76% ↑
Total Liabilities 155.6 173.3 +11.38% ↑
Table 2. Recent changes in total liabilities of SpareBank 1 SR-Bank (bln NOK).

Profit and Loss

Recent changes in gross profit of SpareBank 1 SR-Bank and its main components are shown in Table 3.

2013 2014 % Change
Interest Income 5 442.0 5 918.0 +8.75% ↑
Interest Charges -3 535.0 -3 736.0 +5.69% ↑
Net Interest Income 1 907.0 2 182.0 +14.42% ↑
Commission Income 1 409.0 1 319.0 -6.39% ↓
Commission Charges -73.0 -73.0 0.00%
Table 3. Recent changes in gross profit of SpareBank 1 SR-Bank (mln NOK).

In 2014 annual profit of SpareBank 1 SR-Bank was 1 806.00 mln NOK. Decline compared to the previous period (2013) was -1.74%. The evolution of the annual profit of SpareBank 1 SR-Bank is shown at Chart 2 below.

Annual Profit of SpareBank 1 SR-Bank.
Chart 2. Annual Profit of SpareBank 1 SR-Bank.

Related Information on Norway

Economy and Banking Sector of Norway

List of Banks in Norway

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