Moody's Investors Service (Moody`s) has today upgraded the bank's long-term
deposit, Senior Preferred debt and counterparty ratings and assessment to Aa3.
The rating of the bank's Senior Non Preferred debt is affirmed at A3. The
deposit and senior unsecured ratings carry a stable outlook.

According to Moody's, the rating upgrade reflects continued improvement in the
bank's asset risk, supported by the bank's high share of retail lending (76 %)
and reduction in exposure to more volatile sectors leading to a lower proportion
of non-performing loans. In addition, the bank's operational efficiency, with
cost-to-income well below 40 %, has supported an improvement in profitability. 

Please see Moody`s' press release for further details: 

https://www.moodys.com/research/Moodys-upgrades-Sparebanken-Vests-Senior-and-Dep
osit-ratings--PR_454629

Bergen, 28 September 2021

For further information, please contact:

Frank Johannesen, EVP, CFO, tel.: (+47) 952 65 971 and e-mail:
frank.johannesen@spv.no

Jan-Ståle Hatlebakk, EVP, CRO, tel: (+47) 916 62 284 and e-mail:
jan-stale.hatlebakk@spv.no

Hans Olav Ingdal, Head of Finance and Investor Relations, tel.: (+47) 948 09 328
and e-mail: hans.ingdal@spv.no

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