Review of financial reporting - SpareBank 1 Østlandet

01 Mar 2023 17:30 CET

Finanstilsynet has reviewed certain matters related to the financial reporting
of SpareBank 1 Østlandet ("the bank").

The review of SpareBank 1 Østlandet's 2021 annual financial statement included a
follow-up of the development in granted repayment deferrals, and the bank's
evaluation as to whether the credit risk of such loans had increased
significantly. The bank's assessment is taken into consideration. Finanstilsynet
points out that that going forward, the bank must monitor the extent of loans
with continuous repayment deferrals and the portion of such loans marked as
forbearance, and ensure that there exists documented assessements as to whether
the credit risk of such loans has increased significantly.

Other matters included in the review included disclosures on retained
involvement relating to loans transferred to covered bond issuers, disclosures
relating to the bank's leasing business and disclosures of liquidity risk.
Related to these matters, the bank has for the most part taken things pointed
out by Finanstilsynet into consideration and confirmed that necessary
improvements to future financial reporting will be made.

If you have any questions, please contact:
Lars Jacob Braarud, Head of section, +47 22 93 97 53/+47 91 34 52 73 (mobile)

More information:
Access the news on Oslo Bors NewsWeb site

584030_Kontroll av finansiell rapportering - SpareBank 1 Østlandet.pdf