SpareBank 1 GruppenQ4 2016

1

Another good quarter

443653

393580

2016201520142013

Pre-tax operating profit in Q4 (MNOK)

Return on equity (%)

20,328,0

17,2 19,1

2016201520142013

*

2015

1.617

2014

2.406

2013

1.659

2016

2.019

SpareBank 1 Gruppen (consolidated): 167 %

SpareBank 1 Skadeforsikring AS (P&C): 196 %

SpareBank 1 Forsikring AS (Life): 171 %

2

Pretax operating profit as of Q4 (MNOK)

Solvency II ratio(Without transitional rules)

Solid underlying operations

454

1 279

517

1 447

9096 101

Receivables managementODIN Fund management

85

Non-life insuranceLife insurance

20162015

3

Pre-tax profit subsidiaries as of Q4 (MNOK)

Insurance

4

SpareBank 1 Forsikring AS (life insurance)

Profit growthFully reserved for both paid up policies and defined benefit contracts

Key figures as of Q4 2016 (2015) in MNOK

Pre-tax operating profit for the quarter (MNOK) Pre-tax operating profit as of Q4 (MNOK)

175145 164

3330

50

100

150

200

Q4 2016Q3 2016Q2 2016Q1 2016Q4 2015

479638

506 454 517

0

200

400

600

800

20162015201420132012

Gross premium income: 4,987 (4,391)

Risk result: 372 (360)

Administration result: -71 (24)

Interest result: 287 (-77)

Pre-tax profit: 517 (454)

Solvency II ratio *): 171 %

*) Without transitional rules.

5

Key figures as of Q4 2016 (2015) in MNOK

SpareBank 1 Skadeforsikring (non-life insurance)

Profitable growth and low claim ratiosReduction in claims, mainly due to lower weather claims.

Gross premium income: 5,359 (5,379)

Insurance result: 1,047 (988)

Run-off gains (gross) 453 (494)

Net financial result: 403 (194)

Pre-tax profit: 1,447 (1,279)

Solvency II ratio *) : 196 %

Pre-tax operating profit for the quarter (MNOK) Pre-tax operating profit as of Q4 (MNOK)

382207 234

346

660

0

200

400

600

800

Q4 2016Q3 2016Q2 2016Q1 2016Q4 20150

500

1.000

1.500

2.000

1.829

2014

1.279 1.447

2015 20162013

1.244

*) Without transitional rules.6

Insurance result

• Favorable weather conditions have contributed to a reduction in natural perils by MNOK 114 compared to 2015.

• Run-off gains (net) were MNOK 401 (418) in 2016 (2015). Updated models indicate conservative claimlevels for certain group of products. Given that this is an actual trend, the reserveres will be released over the next 5 years.

• Combined ratio, net. 2016 (2015):

• 79,0 % (81,0 %)

SpareBank 1 Skadeforsikring (non-life insurance)

Insurance resultInsurance result (MNOK)

Combined ratio, net (%)

21,3 19,2 21,2

58,243,0

57,8

2016

79,0

Q4 2016

62,2

Q4 2015

79,5

Net cost ratio

Net claims ratio

686 660988 1.047

2015 2016

Insurance result excl. run off-gains and nature

Insurance result

7

ODIN Fund Management

8

2226 28

9

Q3 2016Q2 2016Q1 2016 Q4 2016

Key figures as of Q4 2016 (2015) in MNOK

ODIN Forvaltning (Fund Management)

Slightly lower earnings in 2016 than in 2015Net inflows in both equity and balanced fund in 2016. Reduction in management fees. Writedowns of shares in subsidiary in Q4.

Operating income: 338 (355)

Operating expenses: 247 (259)

Pre-tax profit: 85 (96)

AUM: 44.447 (40.932)

Pre-tax operating profit for the quarter (MNOK)

9

Receivables management

10

• SpareBank 1 Gruppen Finans has its operations in factoring, portfolio acquisitions and portfolio management. The company cooperates with Conecto which is operates in debt collection. Factoring, portfolio management and debt collection are working together to offer the market a complete set of services in receivables management.

Receivables management

Growth in both volume and income

Pre-tax operating profit (MNOK)

83 9082

19

101

6

SpareBank 1 Gruppen Finans *)

TotalConecto(debt colllection)

2015

2016

11*) Consists of the two business areas Factoring and Portfolio

SpareBank 1 Gruppen

12

Q4

Figures in MNOK 2016 2016 2015

Pre-tax operating result from subsidiaries

- SpareBank 1 Forsikring AS (l ife insurance) 33 517 454

- SpareBank 1 Skadeforsikring AS (non-life insurance) 660 1 447 1 279

- ODIN Forvaltning (fund management) 9 85 96

- SpareBank 1 Medlemskort -1 5 6

- SpareBank 1 Gruppen Finans AS (factoring and portfolio) 22 82 83

- Conecto AS (debt collection) 4 19 6

- Group corrections -115 -12 -158

Pre-tax operating result from subsidiaries 613 2 143 1 768

Operating expenses holding company (SpareBank 1 Gruppen AS) -17 -74 -84

Net finance holding company -16 -50 -47

Share of associated companies 1 1 4

Amortisation and write-downs 0 0 -22

PRE-TAX RESULT 580 2 019 1 617

Tax expense -99 -444 -301

PROFIT FOR THE PERIOD 482 1 575 1 316

The SpareBank 1 Alliance

SpareBank 1 Gruppen AS (SB1G)

SpareBank 1 Forsikring AS (Life insurance)

SpareBank 1 Skadeforsikring AS(Non-life insurance)

ODIN Forvaltning AS(Fund management)

SpareBank 1 Medlemskort AS(LOfavør)

Conecto AS(Debt collection)

SpareBank 1 Gruppen Finans AS(Factoring – Portfolio)

Banksamarbeidet DA (BS)

EiendomsMegler 1 Norge AS

SpareBank 1 Kundesenter AS

SpareBank 1 Verdipapirservice AS

SpareBank 1 ID AS

SpareBank 1 Axept AS

13

SpareBank 1 Næringskreditt AS(Covered bond issuer)

BN Bank ASA

SpareBank 1 Kredittkort AS(Credit card)

SpareBank 1 Mobilbetaling AS (mCASH)

SpareBank 1 Boligkreditt AS(Covered bond issuer)

SpareBank 1 Markets AS

SAM-SPAR