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    Regional banks
Voss Veksel- og Landmandsbank ASA

Voss Veksel- og Landmandsbank ASA

OOSL:VVL
428.00
NOK
+4.00
(+0.94%)
36.48EPS
13.44P/E
1.06BMarket Cap
Voss Veksel- og Landmandsbank ASA
OSL:VVL
(Euronext Oslo)

Recent

price

428.00

P/E

ratio

13.44

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
NOK
37.64
35.84
40.67
41.02
49.08
37.11
46.38
43.55
52.6
55.61
48.04
48.04
57.47
74.74
87
89.63
84.34
Revenue per Share
12.43
9.17
10.98
12
17.86
8.84
15.07
10.7
20.23
23.35
14.98
19.53
23.6
33.04
40.98
40.22
35.87
Basic EPS, GAAP
-33.81
-9.61
5.48
-31.54
82.42
-59.9
-190.71
-240.2
2.88
14.97
94.2
-3.19
54.19
73.27
40.87
6.28
-44.32
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
3.5
4.75
3.4
7.12
- -
9.94
9.64
9.85
14.16
16.5
- -
Dividend per Share
134.73
154.24
162.4
173.06
183.3
190.36
200.77
211.01
257.82
257.08
272.07
282.01
314.74
328.58
351.97
381.33
378.94
Book Value per Share
134.73
154.24
151.86
164.63
176.98
186.14
198.66
211.01
257.82
257.08
272.07
282.01
314.74
328.58
351.97
381.33
378.94
Tangible Book Value per Share
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
Basic Weighted Avg Shares
71
68
77
78
93
71
88
83
103
111
107
110
132
176
192
198
192
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
1
2
6
7
7
7
7
7
3
1
2
2
2
1
1
2
- -
Depreciation Expense
24
17
21
23
34
17
29
20
40
47
33
45
54
78
90
89
82
Net Income, GAAP
26.92
30.53
25.11
24.54
23.6
28.05
21.29
30.3
24.1
22.69
22.75
23.11
23.13
23.18
23.09
22.96
22.79
Effective Tax Rate (%)
33.02
25.6
26.99
29.25
36.39
23.82
32.49
24.57
38.46
41.99
31.18
40.66
41.07
44.2
47.11
44.87
42.53
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
682
766
817
842
828
469
871
1,217
1,393
1,382
1,261
1,116
1,050
1,110
1,015
1,086
1,126
LT Debt
256
293
308
328
348
360
381
399
486
567
600
621
694
725
776
842
837
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
2.56
1.75
1.91
1.99
2.89
1.68
2.75
1.42
2.26
2.44
1.75
2.48
3.11
4.34
4.96
4.73
4.23
Return on Capital (%)
9.58
6.35
6.94
7.17
10.04
4.75
7.73
5.21
8.94
8.88
5.7
7.31
8.24
10.95
12.04
10.97
10.05
Return on Common Equity (%)

Capital Structure

NOK

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2
2
2
Market Capitalization
890
974
1,062

Working Capital

NOK

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
83
85
89
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

NOK

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9%
7.06%
8.42%
Free Cash Flow
-83.11%
-400.83%
-84.63%
Net Income, GAAP
23.88%
22.67%
-1.86%
Sales/Revenue/Turnover
11.57%
13.69%
3.03%
Total Cash Common Dividend
- -
- -
16.56%

Quarterly Revenue

NOK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
44
48
50
49
192
2025
46
53
48
51
198
2026
44
50
- -
- -
- -

Quarterly Earnings Per Share

NOK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
8.96
10.03
10.54
9.46
40.98
2025
8.52
11.92
8.31
10.08
40.22
2026
6.96
10.69
- -
- -
- -

Quarterly Dividends Per Share

NOK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
0.06
14.16
2025
- -
- -
- -
- -
16.5
2026
- -
- -
- -
- -
- -
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Business
Voss Veksel- og Landmandsbank ASA (VVL.OL), commonly known as Vekselbanken, operates as an independent Norwegian commercial bank headquartered in Voss with a branch in Eidfjord, providing comprehensive banking and insurance products to private individuals, businesses and the agricultural sector. Founded in 1843, the bank offers saving accounts; car, vehicle, home, small and construction loans; overdraft facilities; leasing services; bank guarantees; bank and payment cards; insurance products; pensions; and online and mobile banking services, primarily serving customers in Norway through its local presence and alliance with the Eika banking network for product diversity and mortgage financing via Eika Boligkreditt AS. Recent developments include quarterly reporting for the third quarter of 2025 with consolidated capital adequacy updates, interest rate adjustments such as reductions on loans and deposits in September 2025, and ongoing pillar 2 capital requirement decisions in October 2025, alongside a stable 'BBB+' long-term issuer rating affirmed in 2025 reflecting strong earnings and low risk appetite.