Sparebanken Vest has resolved to propose to the General Meeting an additional profit distribution for the accounting year 2022. The proposed additional distribution for the accounting year 2022 amounts to approximately NOK 811 million, whereof donations for the public benefit amounts to about NOK 482 million and the cash dividend to equity capital certificate holders amounts to NOK 329 million, equivalent to NOK 3 per equity capital certificate. The rate of distribution is equal between the equity certificate capital and the primary capital, meaning that the owner fraction will be stable.

Based on the CET1 ratio as of Second Quarter 2023, the additional distribution would have reduced this by about 80 basis points, from 18.6 % to 17.8 %. The proposed distribution will be accounted for in the CET1 ratio to be reported as of Third Quarter 2023. The proposal will be dealt with by the General Meeting on 25 October 2023.

Subject to approval by the General Meeting, the additional distribution is expected to be paid out on or around 1 November 2023.