The SpareBank 1 SMN Group recorded a profit of NOK 1,004m after tax for the
first quarter of 2025. The quarter features strong net interest income, lower
expenses, good contributions from owner interests and continued low losses. All
business lines show good profitability contributing to a return on equity of 14
per cent. 

"We are well pleased with the results for the year's first quarter. Business
lines and subsidiaries are performing well without exception. We see strong
growth along with continued low losses. The Group is financially very solid and
it maintains a strong liquidity position. This performance is particularly
creditable in a world marked by turbulence and uncertainty", says Group CEO
Jan-Frode Janson.

Overall lending growth in the quarter was 0.2 per cent, and over the last 12
months lending has grown in all by NOK 11.6bn, or 4.9 per cent. Deposit growth
in the quarter was 5.2 per cent. Overall costs in the Group were reduced by NOK
42m from the previous quarter, which was burdened by some one-time effects. At
the parent bank expenses rose by 2 per cent over the last 12 months when the
insurance settlement agreed in the same quarter last year is adjusted for. Group
losses on loans and guarantees in the first quarter came to NOK 21m,
corresponding to 0.03 per cent of gross outstanding loans. The bank's financial
position remains excellent, with a CET1 ratio above 18 per cent at the end of
the quarter, which is well above its own targets and regulatory requirements. 

In the first quarter it was announced that SpareBank 1 Markets was to join
forces with its longstanding business partner in Sweden, Swedbank. They are
jointly launching a new venture in the Swedish market, under the name SB 1
Markets. Also here in Mid Norway, competitors joined together in the previous
quarter, with EiendomsMegler 1 Midt-Norge's acquisition of Norion
Næringsmegling. The new entity aspires to a leading position in commercial
property broking in Mid Norway and to make its mark at national level. 

Commission income excluding captive mortgage companies rose by NOK 48m from the
previous quarter and NOK 44m from the first quarter of 2024. It is above all
income from accounting and estate agency services that is gaining ground. 

"SpareBank 1 SMN's strategy, known as "One SMN", is about exploiting the breadth
present in the Group and expanding interaction across the respective business
lines. The strategy stands firm, and is realised through co-location of multiple
services in finance centres. This makes for a broad product range and a
diversified income flow. It also generates high customer satisfaction.

Results for first quarter 2025:
(Consolidated figures. Figures in parenthesis refer to the same period of 2024
unless otherwise stated)

Profit after tax: NOK 1,004m (1,084m)
Return on equity: 14.0% (16.0)
CET1 ratio: 18.1% (18.5%)
Growth in lending: 0.2% (0.8%) 
Growth in deposits: 5.2% (1.1%)
Losses on loans and guarantees: NOK 21m (24m)
Earnings per equity certificate: NOK 4.31 (4.68)

Trondheim 8 May 2025

Contacts:
CFO Trond Søraas on +47 922 36 803
Acting executive director Eirin Sørensen Røkke on +47 452 58 536


The above information is publicly disclosable under Section 5-12 of the
Norwegian Securities Trading Act.