SpareBank 1 Østlandet (SPOL): Finanstilsynet confirms administrative fine

26 Mar 2025 17:00 CET

Reference is made to the stock exchange announcement sent on 7 June 2024, in
connection with the Financial Supervisory Authority of Norway (Finanstilsynet)
notifying a fine of NOK 30 million to SpareBank 1 Østlandet due to inadequate
compliance with anti-money laundering regulations. Today, Finanstilsynet
publishes the final report, which confirms the fine. The report relates to an
on-site inspection in 2022.

Finanstilsynet's criticism concerns inadequate compliance with regulations. The
bank emphasizes that the fine does not relate to suspicion of money laundering
or involvement in money laundering. SpareBank 1 Østlandet recorded the fine in
the second quarter of 2024, so the final decision will not have any accounting
impact.

SpareBank 1 Østlandet takes Finanstilsynet's report very seriously. In recent
years, the bank has significantly increased investments related to the fight
against financial crime, an area that requires continuous improvement. Among
other things, the bank has established a separate division to combat financial
crime.

SpareBank 1 Østlandet has provided input to the preliminary report regarding the
factual basis and legal understanding. Based on the final report, the bank still
has a different opinion than Finanstilsynet on these areas and will therefore
consider appealing Finanstilsynet's decision to the Financial Supervisory
Authority Appeals Board. The final decision on a possible appeal will be made by
the bank's board.

Contact information:
Klara-Lise Aasen, Group CEO, Tel.: +47 476 35 583
Bjørnar Mickelson, Head of Communication, Tel.: +47 450 25 376
Bjørn-Erik R. Orskaug, Head of Investor Relations, Tel.: +47 922 39 185

This information must be disclosed pursuant to section 5-12 of the Securities
Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site