Sparebanken Møre

Interest Rate Update/Notice • Dec 21, 2023

Sparebanken Møre adjusts interest rates

Sparebanken Møre adjusts interest rates

Sparebanken Møre increases lending and deposit rates by up to 0.15 percentage points. The reason for the change is the interest rate adjustment from the Norwegian Central Bank of 0.25 percentage points.

On Thursday 14 December, the Norwegian Central Bank somewhat surprisingly raised the policy rate by 0.25 percentage points. The reason for the interest rate hike is that they want to slow down the high rate of inflation in Norway.

- Increased interest rates affect very differently, and we fully understand that many people are concerned about their financial situation. We believe the interest rate peak has now been reached, hence we decided to limit the interest rate increase on mortgages to up to 0.15 percentage points, says Elisabeth Blomvik, EVP Retail Banking Division.

Customers will be notified on how the interest rate change affects their loans and deposits via online banking/mobile banking or letters in the post in January. The new interest rates for existing loans and deposits will not come into effect until 08.03.2024.

Contacts:

Elisabeth Blomvik, EVP Retail Banking Division

Mobile +47 415 54 195, e-mail elisabeth.blomvik@sbm.no

John Arne Winsnes, CFO

Mobile +47 462 80 999, e-mail jaw@sbm.no

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