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SpareBank 1 SR-Bank ASA

SpareBank 1 SR-Bank ASA

SRBNK.OL
SpareBank 1 SR-Bank ASANO flagOslo Stock Exchange
201.00
NOK
- -
- -
75.06BMarket Cap
SpareBank 1 SR-Bank ASA
SRBNK.OL
(Oslo Stock Exchange)

Recent

price

201.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
TTM
FRC
21.8
25.41
24.67
24.04
13.79
16.22
16.46
15.67
17.94
19.17
19.91
22.41
21.77
23.37
25.35
30.49
34.79
Revenue per Share
4.73
9.19
10.36
8.5
5.33
7.28
8.2
6.83
6.87
8.17
9
12.38
6.21
12.34
13.21
16.93
20.09
Basic EPS, GAAP
1.65
-13.64
-4.29
35.19
-6.2
-26.53
-16.15
-21.68
-24.24
-36.21
-38.84
-42.83
-9.34
-29.77
-61.6
32.31
-10.25
Free Cash Flow per Basic Share
3.32
0.62
1.67
2.64
1.17
1.5
1.6
2
1.5
2
4.26
4.56
- -
8.6
6
6.77
- -
Dividend per Share
38.73
43.45
44.48
45.69
25.01
25.03
25.03
25.01
25.03
25.04
25.06
25.34
24.97
25
25.01
25
25.02
Book Value per Share
58.58
66.42
73.45
76.29
49.32
54.86
60.21
65.93
71.24
77.5
84.23
97.32
101.91
104.5
110.43
125.59
135.22
Tangible Book Value per Share
102
121
127
127
255
255
255
256
255
255
255
252
256
256
256
264
264
Basic Weighted Avg Shares
2,213
3,073
3,137
3,058
3,521
4,143
4,206
4,007
4,584
4,895
5,079
5,655
5,574
5,975
6,481
8,059
9,186
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
64
69
72
80
75
70
88
77
77
74
74
129
187
175
173
166
171
Depreciation Expense
480
1,111
1,317
1,081
1,361
1,860
2,095
1,746
1,755
2,086
2,296
3,124
1,591
3,156
3,378
4,475
5,306
Net Income, GAAP
25.35
22.42
18.4
27.69
22.71
20.75
19.45
18.64
18.67
20.08
20.61
18.16
12.69
17.77
19.81
21.17
18.23
Effective Tax Rate (%)
21.69
36.15
41.98
35.35
38.65
44.9
49.81
43.57
38.29
42.61
45.21
55.24
28.54
52.82
52.12
55.53
57.76
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
61,601
50,246
51,810
46,141
49,436
60,074
72,356
79,781
84,504
95,596
107,869
120,948
133,826
134,865
150,581
161,731
186,011
LT Debt
5,966
8,073
9,402
9,757
12,637
14,056
15,403
16,914
18,288
19,889
21,585
24,834
26,393
27,180
28,688
33,560
36,114
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
16.81
24.19
24.14
18.85
22.32
29.11
32.77
27.31
27.45
32.62
35.91
48.86
24.88
49.36
52.83
68.84
81.62
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Mar'24
Jun'24
Sep'24
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
264
264
264
Market Capitalization
33,381
34,216
35,967

Working Capital

FRC

•

in mil. unless spec.
Mar'24
Jun'24
Sep'24
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
409
101
689
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.16%
9.37%
16.98%
Free Cash Flow
16.55%
20.43%
-154.22%
Net Income, GAAP
15.03%
24.97%
32.47%
Sales/Revenue/Turnover
7.16%
9.98%
24.35%
Total Cash Common Dividend
- -
- -
16.61%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2022
1,558
1,589
1,641
1,802
6,481
2023
1,832
2,001
2,056
2,566
8,059
2024
2,217
2,302
2,101
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2022
2.94
3.11
3.24
3.91
13.21
2023
3.45
4.02
4.15
5.69
16.93
2024
4.51
4.4
5.49
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2022
- -
- -
- -
- -
6
2023
- -
- -
- -
- -
6.77
2024
- -
- -
- -
- -
- -
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Business
SpareBank 1 Sør-Norge ASA operates as one of Norway's largest regional savings banks, providing a comprehensive range of financial services to retail, corporate, small and medium-sized enterprise, agricultural, and public sector customers; core offerings include loans, deposits, savings products, payment solutions, insurance, pension savings, asset management, mutual funds, real estate brokerage, accounting services, international cash management, foreign exchange, interest-rate instruments, and home mortgage purchases. The bank, whose roots trace back to 1839 with the establishment of its oldest predecessor institutions and formal incorporation in 1976 through the merger of 22 local savings banks, maintains headquarters in Stavanger, Norway, and conducts operations across Vestland, Rogaland, Agder, Telemark, Vestfold, Buskerud, and the Oslo area through approximately 53 branches. As part of the SpareBank 1 alliance, it leverages shared resources for product development, IT platforms, and nationwide distribution while focusing on sectors such as real estate, offshore oil and gas, industry, power, water supply, and sustainable finance initiatives. In a transformative development completed on October 1, 2024, SpareBank 1 SR-Bank ASA merged with SpareBank 1 Sørøst-Norge AS in a share-for-share transaction involving the issuance of 111,187,338 new shares at NOK 130.60 each, forming Norway's largest savings bank by assets under the new name SpareBank 1 Sør-Norge ASA with ticker SB1NO.OL and pro forma total share capital of NOK 9,386,407,675; the merger, approved by shareholders, regulators including the Norwegian Financial Supervisory Authority and Ministry of Finance, and cleared by competition authorities, enhances scale, cost efficiencies, market leadership, and ROE targets lifted to 14% while integrating subsidiaries like EiendomsMegler 1 Sør-Norge for real estate and SpareBank 1 Sør-Norge Forretningspartner for accounting. Leadership transitioned in September 2024 with Inge Reinertsen appointed CEO following Benedicte Schilbred Fasmer's departure, and Roar Snippen as acting CFO, supporting strategic goals of a cost/income ratio below 40%, CET1 ratio above 17.6%, and dividend payouts around 50% of annual profit.