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Sparebank 1 Ostlandet ( (DE:2SF) ) has shared an update.
SpareBank 1 Østlandet reported first-quarter 2026 profit after tax of NOK 800 million, down from NOK 867 million a year earlier, with return on equity slipping to 12.4 percent as net interest income declined amid fierce mortgage competition and a challenging interest-rate environment. Strong retail activity and growth in Greater Oslo, rising commission income from broader financial services, and a solid loan book helped offset margin pressure.
To defend competitiveness, the bank is pushing through a cost-efficiency programme targeting a cost ratio below 40 percent, including a reduction of about 70 full-time equivalents by 2027 and a continued hiring freeze, which contributed to higher operating expenses in the quarter through severance provisions. Strategically, SpareBank 1 Østlandet is intensifying its presence in Greater Oslo, co-locating its Private Banking unit with SB1 Markets in Vika to bolster visibility and leverage its wide product range for customers, while maintaining strong capital levels with a Common Equity Tier 1 ratio of 17.8 percent.
More about Sparebank 1 Ostlandet
SpareBank 1 Østlandet is a Norwegian regional bank serving Eastern Norway, including Greater Oslo, with a broad financial services offering. The group provides retail and corporate banking, residential mortgages, asset management, insurance, real estate brokerage and accounting services, and is sharpening its focus on higher-end segments through expanded Private Banking operations in Oslo.
Average Trading Volume: 77,836
Current Market Cap: NOK27.15B
See more insights into 2SF stock on TipRanks’ Stock Analysis page.