- "In the second quarter, we are once again delivering strong results and solid
return on equity. It's especially gratifying to see that loan growth has picked
up and is well above the market growth," says CEO Geir Bergskaug, who on Tuesday
presented the results for Q2 2024. A pre-tax profit of NOK 648 million
represents an increase from NOK 550 million in the same period in 2023.

- "The results are characterized by good growth in commission income and
contributions from associated companies, continued low losses, and profitable
growth. Additionally, net interest income is naturally contributing positively."

Low cost-income Ratio and Strong Return on Equity
The bank achieved a very low cost-income ratio of 34.3 percent in the quarter,
making it one of the most cost-efficient banks in the country. Sparebanken Sør's
return on equity is also trending upwards.

- "We are now delivering a return on equity of 12.5 percent in the quarter,
compared to 11 percent in the same period last year. As a standard bank with a
leverage ratio of 9.2 percent, this demonstrates that we are a very solid bank
with good profitability. Looking at the first half of 2024, the return on equity
is a strong 13.3 percent, compared to 11.5 percent in the first half of 2023."

Strong Growth in the Quarter
Sparebanken Sør has a high proportion of personal customers, a low-risk profile,
and strong security in the loan portfolio. The annualized loan growth in Q2 was
a strong 7.1 percent, with 6.6 percent for retail customers and 8.1 percent for
corporate customers. Deposit growth is also solid.

- "We have seen positive deposit and loan growth over the last 12 months and are
gaining momentum halfway through the year. Loan losses and non-performing loans
remain on a very low level."

Positive Results Development
Net interest income amounted to NOK 823 million in Q2 2024, compared to NOK 732
million in Q2 2023. Pre-tax profit for the quarter is NOK 648 million.

- "Interest rates have increased over time, leading to higher interest margins
for banks in both the retail and corporate markets. This has certainly
contributed to positive results. We don't know if we've reached the peak
interest rate yet, but we assume that net interest income will level off going
forward."

Key Figures from Q2 2024 (Q2 2023 in parentheses):
o	Pre-tax profit: NOK 648 million (NOK 550 million)
o	Return on equity: 12.5 percent (11 percent)
o	Net interest income: NOK 823 million (NOK 732 million)
o	Net income from financial instruments: NOK 21 million (NOK 0 million)
o	Income from associated companies: NOK 46 million (NOK 25 million)
o	Operating costs: NOK 345 million (NOK 326 million)
o	Net loan losses: NOK 13 million (NOK -9 million)

The full quarterly report can be read at www.sor.no

Contact Persons:
Geir Bergskaug, CEO, tel. +47 901 27 206
Steinar Vigsnes, CFO, tel. +47 906 13 135

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Securities Trading Act.