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Sparebanken Møre

Capital/Financing Update • Jun 27, 2023

3754_rns_2023-06-27_1cde8d3e-05d3-44e6-bc7e-552e3358450d.html

Capital/Financing Update

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Permission for changes in IRB models

On 21 December 2021, Sparebanken Møre applied to the Norwegian Financial Supervisory Authority (FSA) for changes to the IRB models and the calibration framework.

The bank has received a letter from the Norwegian FSA approving the requested models for the corporate market. The Norwegian FSA further states that they aim to complete the processing of the model changes for lending to the retail market during 2023.

Sparebanken Møre will incorporate the new models during the second half of 2023. Based on figures at the end of the 1st quarter this year, the new risk weights resulting from the abovementioned changes would have given a CET1 ratio of around 0,5 p.e. higher than that reported.

Contact:

Erik Røkke, EVP Risk Management and Compliance, mobile; 004797113383

John Arne Winsnes, CFO, mobile; 004746280999