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Sparebanken Vest (SVEG.OL)

SVEG.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Sparebanken Vest: Tier 1 and Tier 2 bond issues oversubscribed
Thursday, 2 Feb 2017 06:49am EST 

Sparebanken Vest : Successful issuance of Tier 1 and Tier 2 bond . Issued Tier 1 bond of 300 million Norwegian crowns ($36.6 million) with floating rate coupon equal to 3 months NIBOR + 3.60 percentage points . On Feb. 1 issued Tier 2 bond of 350 million crowns with floating rate coupon equal to 3 months NIBOR + 1.70 percentage points .Says both issues were significantly oversubscribed.  Full Article

Sparebanken Vest Q4 pre-tax profit NOK 361 million, beats expectations
Wednesday, 1 Feb 2017 01:00am EST 

Sparebanken Vest : Q4 net interest income 597 million Norwegian crowns ($72 million)(Reuters poll 592 million crowns) . Q4 pre-tax profit 361 million crowns (Reuters poll 337 million crowns) . Q4 loan losses 33 million crowns (Reuters poll 72.8 million crowns) .Proposes 2016 dividend of 4.50 crowns/equity certificate (Reuters poll 4.01 crowns/equity certificate).  Full Article

Tide: Sparebanken Vest sells entire holding in Tide
Friday, 9 Dec 2016 02:08am EST 

Tide ASA : Sparebanken vest sells entire holding in Tide ASA of 2.2 million shares .DSD AS buys 2.9 million shares in Tide ASA corresponding to 12.73 pct stake for 28.50 Norwegian crowns per share.  Full Article

Sparebanken Vest mulls sale of its shareholding in Verd Boligkreditt
Wednesday, 9 Nov 2016 02:29am EST 

Sparebanken Vest : Is in negotiations with other owners in Verd Boligkreditt regarding partial transfer of Sparebanken Vest's shares in Verd Boligkreditt . Owns 40 PCT of Verd Boligkreditt .Says possible sale of bank's shares will provide marginal result and capital effects for bank.  Full Article

Sparebanken Vest Q3 pre-tax profit NOK 769 million, beats estimates
Wednesday, 26 Oct 2016 05:53am EDT 

Sparebanken Vest : Q3 pre-tax profit 769 million Norwegian crowns ($93 million) (Reuters poll 600 million crowns) . Q3 net interest income 592 million crowns (Reuters poll 608 million crowns) . As of end of Q3, the bank's core tier 1 ratio was 14.8 pct, up from 12.2 pct in the same period last year . Says distribution percentage will be between 50 and 80 pct of the equity holders' share of the profit .Distribution percentage for 2016 is expected to be increased from the lower to the middle part of the dividend interval.  Full Article

BRIEF-Sparebanken Vest Q2 pre-tax profit soars to NOK 504 million, beats estimates
Thursday, 18 Aug 2016 01:44am EDT 

Sparebanken Vest : Q2 net interest income 601 million Norwegian crowns (Reuters poll 605 million crowns) . Q2 pre-tax profit 504 million crowns (Reuters poll 377 million crowns) . Q2 loan losses 16 million crowns (Reuters poll 69.7 million crowns) . Expects flat cost development excluding restructuring in 2016 and 2017 . Says development with respect to losses and write-downs has been more positive than expected so far this year .Says will further reduce its expected write-downs for 2016 to 150–200 million crowns.  Full Article

Sparebanken Vest announces successful issue of NOK 300 million bond
Tuesday, 3 May 2016 06:28am EDT 

Sparebanken Vest:Successful issue of 300 million Norwegian crowns bond.Coupon in bond issue is 3M NIBOR + 2.80 pp.Bond maturity is May 12, 2021.  Full Article

Sparebanken Vest clarifies FY 2016 guidance
Thursday, 28 Apr 2016 01:00am EDT 

Sparebanken Vest:Says previous expectation of write-downs somewhere in region of 250 million-300 million crowns in 2016 still applies, but withpre-ponderance of probability that figure will be in lower part of interval.A slightly lower return on equity is expected in 2016.Bank is on schedule with measures to ensure a flat cost development in 2016 and 2017.Bank’s capital accumulation plan assumes that dividend for 2016 will in the lower part of the interval.Dividend policy prescribes a 50–80 pct cash dividend of the equity certificate holders’ share of profits.  Full Article

Sparebanken Vest proposes 2015 dividend of NOK 1.10/equity certificate
Wednesday, 24 Feb 2016 01:03pm EST 

Sparebanken Vest:Proposes dividend of 1.10 Norwegian crown per equity certificate.Payment date is as of April 4, 2016.  Full Article

Sparebanken Vest will reduce number of full-time equivalents by about 100
Tuesday, 2 Feb 2016 09:30am EST 

Sparebanken Vest:‍Will reduce number of branch offices from 44 to 35​.‍Is announcing offensive measures aimed at ensuring an even more customer-oriented and efficient organisation​ ‍.Will reduce number of full-time equivalents by about 100 by end of 2016​ ‍.Says in some parts of organisation, there is also a need to recruit new expertise​.  Full Article

More From Around the Web

Sparebanken Vest sees higher growth, limited losses

** Sparebanken Vest Chief Executive Jan Erik Kjerpeseth sees turnaround for the economy and faster growth ahead for the bank, he told Reuters on the sidelines of a banking conference on Friday