Sparebanken Øst: A Comprehensive Overview

Sparebanken Øst is a Norwegian bank that offers a wide range of financial services to its customers. It was founded in 1827.

The bank has a strong presence in the Østfold region, with a large network of branches and a strong commitment to the local community.

Sparebanken Øst has a long history of innovation, introducing new products and services to meet the changing needs of its customers.

Sparebanken Øst was established in 1843 in Øvre Eiker.

It's one of Norway's largest alliance-free savings banks.

The main office is located on Bragernes torg in Drammen, and they have 30 branches on Østlandet.

Sparebanken Øst is a bank that's been serving the community since 1869. It's headquartered in Fredrikstad, Norway.

Sparebanken Øst has a strong presence in the Østfold and Akershus counties, with a network of branches and ATMs.

The bank's main goal is to provide financial services that meet the needs of its customers. It's committed to being a responsible and sustainable business.

Sparebanken Øst has a long history of innovation, having introduced the first Norwegian credit union in 1869. This pioneering spirit has helped the bank stay ahead of the curve.

The bank has a team of experienced professionals who work together to provide expert advice and support to customers.

Sparebanken Øst was established in 1843 in Øvre Eiker and is one of Norway's largest independent savings banks.

Their main office is located on Bragernes torg in Drammen, and they have 30 branches across Østlandet.

Sparebanken Øst has a long history, with roots dating back to 1843.

Sparebanken Øst has a well-structured organization that enables efficient operations. With a strong presence in Eastern Norway, the bank has a total of 67 branches.

The bank's organizational setup allows for a high level of customer service, with a large network of branches and a dedicated team of employees.

The Executive Committee at Sparebanken Øst is a group of high-level executives responsible for making key decisions. Pål Strand serves as the CEO, a position he has held since 2011.

The committee has a diverse range of expertise, with Arnljot Lien bringing his experience as CTO since 2000. Cecilie Hagby, the PRN, has been a part of the team since 2017.

Be Sivertsen, the SAM, is the youngest member of the committee at 46 years old. He joined the team in 2020.

Here is a brief overview of the Executive Committee members:

The Board of Directors of Sparebanken Øst is composed of six members, each with their own unique background and experience.

The Chairman of the Board is J. Elisabeth Rønning Indrelid, who has been in the position since 2010. She is 66 years old.

Øivind Andersson is also a Chairman of the Board, and has been in the position since 2017. He is 69 years old.

The Board Members include Cecilie Hagby, Sissel Album Fjeld, Arne K. Stokke, Havard Saastad, Ole Hoen, and Lina Sorby.

Here is a list of the Board Members, including their age and the year they joined the Board:

The youngest Board Members are Havard Saastad and Lina Sorby, both 39 years old.

Sparebanken Øst, a Norwegian bank, has a long history dating back to 1843 when it was established as Eiker Sparebank. The bank has undergone several mergers and acquisitions, including the fusion with Drammensbanken Skoger Sparebank in 1997.

The bank's main office is located in Drammen, with over 30 branches across Østlandet. Sparebanken Øst offers a range of financial services, including banking and insurance.

One of the bank's notable datterselskap (subsidiaries) is AS Financiering, which provides loans for new and used vehicles, as well as leasing services for businesses. Another subsidiary, Sparebanken Øst Eiendom AS, is responsible for managing the bank's property portfolio.

In 2009, the bank established Sparebanken Øst Boligkreditt AS, which issues bonds with a priority claim on mortgage loans transferred from the bank.

Here are some key statistics about Sparebanken Øst:

The bank's leadership includes Øivind Andersson as the styreleder (chairman) and Pål Strand as the adm.dir. (administrator).

Sparebanken Øst is a strong financial institution with a solid track record.

The bank's net interest income has been steadily increasing over the years, reaching NOK 1.8 billion in 2020.

With a total capital of NOK 12.2 billion, Sparebanken Øst has a robust financial foundation.

Sales by Activity is a crucial aspect of any financial report, and Sparebanken Øst's numbers are no exception. Their Private Market sales have been steadily increasing, from 411M in 2019 to 489M in 2023.

The Business Market sales, on the other hand, have been more inconsistent, ranging from 141M in 2019 to 156M in 2023. This could indicate fluctuations in business demand or market trends.

Undistributed sales have also shown some volatility, with a high of 206M in 2020 and a low of 109M in 2019. This might be due to various factors, such as changes in supply chain management or unexpected expenses.

Elimination, a key aspect of financial reporting, has seen significant changes, with a high of 2.8M in 2022 and a low of -9.5M in 2019. This could be the result of adjustments to accounting methods or changes in business partnerships.

AS Financiering sales have been relatively stable, ranging from 83M in 2019 to 98.2M in 2023. This suggests a consistent level of financial services provided to customers.

Finance sales have also shown some stability, with a low of -40M in 2019 and a high of -24.4M in 2020. However, the significant drop to -119M in 2022 indicates a potential issue that needs to be addressed.

Sparebanken Øst Eiendom AS has seen a steady increase in sales, from 8.2M in 2019 to 6.7M in 2023. This could be due to a growing demand for real estate services or a strategic shift in the company's focus.

Here's a breakdown of the sales by activity for Sparebanken Øst over the past five years:

Sparebanken Øst has entered into a new agreement with Tietoevry Banking to enhance their banking services and improve efficiency.

The agreement focuses on providing a comprehensive solution portfolio, including core banking, payment, and security solutions. This will enable Sparebanken Øst to upgrade their services and meet regulatory requirements.

Pål Strand, adm. direktør of Sparebanken Øst, emphasizes the importance of this agreement in achieving their goal of becoming a leading and competitive bank in their core areas.

Sparebanken Øst and Tietoevry have inngått a new agreement to improve the bank's efficiency and quality.

The agreement is a continuation of previous collaborations between the two companies and aims to make Sparebanken Øst a more competitive bank.

Sparebanken Øst's adm. direktør Pål Strand emphasizes the importance of having a strong digital bank-concept to attract and retain customers.

Tietoevry Banking's CEO Klaus Andersen is proud to extend and expand their long-term partnership with Sparebanken Øst.

The new agreement will allow Sparebanken Øst to migrate to a modern and efficient kjernebankløsning, making it easier to integrate with new solutions in the future.

This will contribute to making Sparebanken Øst a more competitive bank, with a strong digital presence and improved customer experiences.

Sparebanken Øst has ambitious plans for growth, having recently completed a strategy to reduce risk associated with property investments.

The bank's net loan to business customers was 3.9 billion kroner at the end of 2023, a 0.4 billion kroner increase over the last 12 months.

Sparebanken Øst aims to increase its business loans, having grown by over 10% in the business market last year.

The bank has a plan for geographical expansion, with a small but growing office in Fredrikstad.

Sparebanken Øst has a strong focus on returning value to its customers and the community.

The bank's customer base is predominantly made up of small and medium-sized enterprises, with over 50% of its customers having fewer than 10 employees.

Sparebanken Øst's return on equity (ROE) has consistently been above 15%, indicating a strong financial performance.

The bank's commitment to returning value to its customers is evident in its low fees and high interest rates on deposits.

Sparebanken Øst has a strong presence in the Oslo region, with over 90% of its customers located within a 20-kilometer radius of the city center.