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Sparebanken Vest : Dividend part 2 - fiscal year 2020

10/01/2021 | 05:18am

In a letter dated 20 January 2021, the Norwegian Ministry of Finance expressed
the view that Norwegian banks who after a cautious assessment, and based non
ESRB's recommendation, finds due reason to pay out dividend, should keep
accumulated dividend within a maximum of 30 percent of accumulated annual
results for the fiscal years 2019 and 2020 until 30 September this year.
Sparebanken Vest has complied with this recommendation.

The Ministry of Finance, supported by Finanstilsynet, in a press release dated 7
September this year, expressed the view that reduced uncertainty concerning the
economic situation allows for the Norwegian banks to adhere to regular dividend
practices after 30 September this year. The Board of Directors in Sparebanken
was authorized by the General Meeting on 24 March 2021 to decide on pay-out
of dividend part 2 for the fiscal year 2020, assuming the pay-out was deemed

Sparebanken Vests results for the second quarter 2021 shows that the bank's
financial situation is very strong. Return on Equity was 13.6 % for the second
quarter, and the bank's CET 1 ratio was 18 % at the end of second quarter. In
the capital ratio, a pay-out of 50 % for the fiscal year 2021 was assumed, and
also including pay-out of part 2 for 2020.

The Board of Directors in Sparebanken Vest har today decided, in accordance with
the power of attorney given by the general meeting, to pay out dividend of NOK
193 million
(1.80 NOK per Equity Certificate), and NOK 290 million in donations.
The Ownership ratio will remain unchanged after the pay-out

For further information, please contact:
Jan Erik Kjerpeseth, CEO, phone: +47 951 98 430.
Frank Johannesen, EVP, CFO, phone: +47 952 65 971.
Hans Olav Ingdal, Director of Finance and IR, phone: +47 948 09 328.
Hanne Dankertsen, Communications Director, phone: +47 994 49 173.

This information is disclosed in accordance with Verdipapirhandelloven §5-12.

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