SpareBank 1 Østlandet's consolidated profit after tax for 2022 was NOK 1 948 (2
022) million. The Board of Directors is proposing a cash dividend totalling NOK
788 (695) million, or NOK 6.80 (6.00) per equity capital certificate, as well as
customer dividends totalling NOK 306 (295) million.

The SpareBank 1 Østlandet Group ended 2022 with a solid quarterly profit after
tax of NOK 622 (505) million, with a return on equity of 12.9 (11.1) per cent. 

"The Bank's core operations developed strongly. High activity among customers
helped to ensure solid growth throughout the year," says CEO Richard Heiberg.

Low losses - customers appear to be adapting their personal finances
The Bank experienced low actual losses, both in the quarter and in the year as a
whole. "Despite a year of generally high levels of uncertainty, several rate
hikes and high inflation, it appears that customers have been able to adapt
their personal finances to more volatile times. This also confirmed by the
Bank's survey of expectations where seven out of ten retail customers responded
that they have specific plans for reducing their expenditure. Few companies are
reporting fears of bankruptcy, although the survey shows they have low
expectations in generelt," says Heiberg.

Exciting initiatives 
2022 was a year of several initiatives that strengthen SpareBank 1 Østlandet as
a relationship bank. The agreement to be one of two preferred providers of
LOfavør products for members of the Norwegian Confederation of Trade Unions (LO)
was extended by a further two years. SpareBank 1 Østfold Akershus became a
co-owner of SpareBank 1 Finans Østlandet, and SpareBank 1 Ringerike Hadeland
increased its ownership stake. The Group is also gearing up for further growth
in Oslo, with 10 new employees and a new branch in Økern Portal - an area of
high population growth and with a diverse business sector. 

Positive feedback from many quarters
In 2022, the Bank received several good national and international scores in
various areas of its sustainability work. Our capable employees score high on
work engagement and motivation, which helps generate a good corporate atmosphere
and good customer experiences. Our best feedback ultimately comes from
customers, with very good customer satisfaction survey results in both the
retail and corporate markets. 

Outlook
The macroeconomic backdrop has become more demanding for both households and
companies in the past year. Uncertainty has increased and we have still not seen
the full effect of the interest rate changes. Therefore, the Bank has increased
its model-based provisions for loan losses.

"SpareBank 1 Østlandet is financially strong and has good access to capital. It
is therefore equipped to meet any challenges. The savings bank model, with its
emphasis on good advice, proximity to the market and good local knowledge,
stands up well in rough weather. The Bank therefore believes it will achieve
increased profitability in the coming period," says Heiberg. 

Fourth quarter of 2022 (Consolidated figures. Figures in brackets concern the
corresponding period in 2021)
o	Profit after tax: NOK 622 (505) million
o	Return on equity: 12.9 (11.1) per cent
o	Earnings per equity capital certificate: NOK 3.61 (2.98)
o	Net interest income: NOK 789 (563) million
o	Net commissions and other operating income: NOK 370 (424) million
o	Net income from financial assets and liabilities: NOK 172 (113) million
o	Total operating expenses: NOK 517 (531) million
o	Impairment losses on loans and guarantees: NOK 63 (28) million
o	Lending growth in the last quarter, including mortgages transferred to the
covered bond companies: 1.1 (2.0) per cent
o	Deposit growth in the last quarter: -0.1 (1.0) per cent
o	Common Equity Tier 1 capital ratio: 17.7 (18.0) per cent
o	Eligible green assets under the Bank's green bond framework: NOK 29.1 (27.7)
billion  

Preliminary annual financial statements for 2022 (Consolidated figures. Figures
in brackets concern the corresponding period in 2021)
o	Profit after tax: NOK 1 948 (2 022) million
o	Return on equity: 10.5 (11.6) per cent
o	Earnings per equity capital certificate: NOK 11.37 (11.96)
o	Net interest income: NOK 2 693 (2 161) million
o	Net commissions and other operating income: NOK 1 588 (1 663) million
o	Net income from financial assets and liabilities: NOK 162 (599) million
o	Total operating expenses: NOK 2 037 (1 980) million
o	Impairment losses on loans and guarantees: NOK 27 (5) million
o	Lending growth, including mortgages transferred to covered bond companies in
the past 12 months: 8.7 (7.7) per cent
o	Deposit growth in the past 12 months: 7.2 (7.7) per cent
o	The Board of Directors is proposing to the Supervisory Board of the Bank a
cash dividend of NOK 6.80 (6.00) per equity capital certificate, totalling NOK
788 (695) million. Customer dividends of NOK 306 (295) million and a provision
of NOK 31 (6) million for donations are also proposed. 

Contact information: 
Richard Heiberg, Group CEO, Tel.: +47 902 06 018 
Geir-Egil Bolstad, CFO, Tel.: +47 918 82 071 
Bjørn-Erik Orskaug, Head of Investor Relations, Tel.: +47 922 39 185 
Siv Stenseth, EVP Communication and Social Affairs, Tel.: +47 958 46 991 

This information must be disclosed pursuant to section 5-12 of the Securities
Trading Act.

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