SpareBank 1 Østlandet achieved a consolidated profit after tax of NOK 3 356
million (NOK 2 222 million) in 2024. The return on equity was 15.8 % (11.3 %).
This is the highest return for the group in 30 years. A solid development in the
bank's core business is behind the good result, in addition to accounting
effects from the merger between Fremtind Forsikring and Eika Forsikring.

In addition to good results, the group also experienced significant events
during the past year. The year began with the news on 3 January of a signed
letter of intent for a merger with Totens Sparebank. Extensive work on the
merger plans was carried out throughout the year, leading to the legal merger
being completed as intended on 1 November 2024.

Last autumn, the bank signed a new agreement to be the preferred bank for
delivering LOfavør products to LO members. On 1 October, the market area was
expanded southwestward by crossing the county borders to Buskerud and
establishing an office in Drammen. The group has also decided to merge our three
real estate agencies during the first half of 2025 to create a unified effort
under the EiendomsMegler 1 Østlandet brand. On 1 April, Klara-Lise Aasen took
over as the new Group CEO, succeeding Richard Heiberg.

The group met all its financial targets in 2024. The return on equity exceeded
the revised target of 13 %. The bank's CET-1 capital ratio at the end of 2024
was 16.8 %, compared to a solidity target of 16.1 %. The bank's Board of
Directors proposes a cash dividend of NOK 10.30 (NOK 7.80) per equity capital
certificate, which is about 60 % of the owners' share of the profit - compared
to a targeted dividend share of at least 50%.

Furthermore, the Board of Directors is proposing to the Supervisory Board to pay
a customer dividend of NOK 470 million (NOK 381 million) and to allocate NOK 42
million (NOK 6 million) for gifts. The bank places great emphasis on
distributing significant funds to the local community. Customer dividends are an
effective way to give back to the community we are part of, along with gift
allocations and the activities of the savings bank foundations.

SpareBank 1 Østlandet's group profit after tax for the fourth quarter of 2024
was NOK 701 million (NOK 574 million). The return on equity was 11.5 % (11.3 %).
The underlying development in the bank's results was very solid, with good
growth in both net interest income and commission income.

The bank experienced solid housing mortgage loan growth during the quarter.
Underlying growth in the mortgage portfolio was just below 2 %. The good
development seems to have continued into 2025, with a large number of mortgage
applications submitted in January. The volume development in the corporate
market was weaker in the fourth quarter, reflecting low market growth. However,
there are signs of stronger growth in the coming quarters.

The fourth quarter was another quarter with high commission income. Turnover for
the real estate agents was helped by good market growth, but also increased
market shares. Insurance commissions are at their highest ever, driven by
increased insurance premiums, good sales, and lower claims payments.

Loss costs were NOK 122 million (NOK 39 million) in the fourth quarter. As in
the previous quarter, a known engagement with previous provisions was the reason
for unusually high individual loss provisions. 

The group's operating costs in the fourth quarter were NOK 764 million (NOK 594
million). The increase in operating costs in the parent bank by NOK 100 million
from the same quarter in 2023 was mainly due to the inclusion of Totens
Sparebank's cost base and integration costs. There was also high growth in
personnel costs outside Totens Sparebank related to increased investments in
customer-facing positions primarily made at the beginning of 2024, as well as
increased resources related to compliance. In addition, IT costs increased,
especially via the alliance. In the subsidiaries, the quarter was characterized
by large extraordinary costs, in the form of write-downs and provisions just
below NOK 40 million.

"The activity level in our core business has been high also through the last
quarter of the year. Commission income from savings, insurance, and real estate
brokerage is strong, and at the end of the year, we have volume growth in both
deposits and loans that is higher than market growth. We had the pleasure of
welcoming 82 new colleagues from Totens Sparebank from 1 November, and we are
well underway with the important integration work, which will further strengthen
our customer relationships in the Lake Mjøsa-region. In October, we opened a new
office in Drammen to strengthen our presence in this growth region. The
reception in a city with strong bank competition has exceeded all expectations
and yielded good results so far. I am grateful that customers continue to show
us trust, also through a good start to 2025," says CEO Klara-Lise Aasen

Q4 2024 (Consolidated figures. Figures in brackets concern the corresponding
period in 2024)
o	Profit after tax: NOK 701 (574) million
o	Return on equity: 11.5 (11.3) per cent
o	Earnings per equity capital certificate: NOK 3.71 (3.32)
o	Net interest income: NOK 1 179 (1 005) million
o	Net commissions and other operating income: NOK 442 (319) million
o	Net income from financial assets and liabilities was NOK 140 (77) million.
o	Total operating expenses: NOK 764 (594) million
o	Net loan loss provisions were NOK 122 (39) million
o	Lending growth in the last quarter, including mortgages transferred to the
covered bond companies: 12.3 (1.4) per cent
o	Deposit growth in the last quarter: 12.4 (-1.9) per cent
o	Common Equity Tier 1 capital ratio: 16.8 (17.0) per cent
o	The Bank's green loans (incl. loans transferred to the covered bond companies)
amounted to NOK 44 (39) billion at the end of the fourth quarter


Contact information:
Klara-Lise Aasen, Group CEO, Tel.: +47 476 35 583
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 section 5-12 of the Securities
Trading Act.