SpareBank 1 Østlandet's consolidated profit after tax for the third quarter of
2021 was NOK 561 (438*) million. "We have delivered another strong result and
the return on equity so far this year exceeds our long-term target. Dividends
for owners and customers from last year's results will be paid out in November,"
says CEO Richard Heiberg of SpareBank 1 Østlandet.

The reopening of Norway and positive developments in the macroeconomic backdrop,
both regionally and nationally, mean that we are now almost back to normal life,
both in banking and in customers' financial situation.

"The trends are good in many sectors. Many companies are reporting increased
investments. Sectors such as restaurants and nightlife are coming back to life,
which is reflected in customers' card use," says CEO Richard Heiberg.

Strong growth in several areas
The strong third quarter results follow good results also for the first
half-year. All of the major income posts made a positive contribution to the
good profit for the quarter, including through higher net interest income due to
increased lending and deposit volumes, higher commission income from covered
bond companies, money transfer services, savings and insurance, as well as
continued good contributions from other ownership interests and financial items.
The reversal of loan losses also made a positive contribution to the results. 

Customers demand more loans and savings products
Despite the prospect of rate hikes announced by Norges Bank, the Group's retail
and corporate lending increased in the third quarter. Higher interest rates will
dampen mortgage growth, but lower unemployment contributes positively. Good
growth in corporate lending confirms the positive impressions from the Bank's
business expectations survey from earlier this year. 

Deposits fell slightly from the second to the third quarter in line with normal
seasonal fluctuations, although they remain 5.6 percent and 8.4 per cent higher
than at the same time last year for retail customers and corporate customers,
respectively. Customers are also adopting more types of saving than before due
to the low interest rate environment. 

Dividends and customer dividends
Based on good macroeconomic developments and the Bank's financial strength, the
Board of Directors has, in line with the special authorisation approved by the
Supervisory Board, decided to pay out the remaining equity holder and customer
dividends for the fiscal year 2020. The dividends for equity holders totalling
NOK 352 million, corresponding to NOK 3.04 per equity capital certificate, will
be paid out on 9 November. Payment of the customer dividends totalling up to NOK
231 million for customers with loans and deposits in the Bank will take place
around 19 November.

Q3 2021 (Consolidated figures.* Figures in brackets concern the corresponding
period in 2020) 
o Profit after tax: NOK 561 (438) million
o Return on equity: 12.6 (10.9) per cent 
o Net interest income: NOK 552 (536) million
o Net commissions and other operating income: NOK 414 (392) million
o Net income from financial assets and liabilities: NOK 198 (133) million
o Total operating expenses: NOK 473 (465) million
o Impairment losses on loans and guarantees: Net receipts of NOK 16 million (net
charge of NOK 47 million)
o Common Equity Tier 1 capital ratio: 18.0 (17.3) per cent

See the attached interim report and presentation. 

Contact information: 
Geir-Egil Bolstad, CFO - Tel: +47 918 82 071 
Bjørn-Erik Orskaug, Head of Investor Relations - Tel: +47 922 39 185

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