Sparebanken Vest AS

Latest Results (20.01.2026):

Sparebanken Vest AS — Q4 2023 (year-end 2023): the Group reported strong full‑year 2023 results in its Annual Report 2023 with a pre‑tax profit of NOK 4,418 million and an after‑tax return on equity (ROE) of 16.5%. Capitalisation remained solid (CET1 ratio 16.8%) and assets under management were about NOK 306 billion. Lending growth was robust (gross lending growth ~13–14% driven by retail and the Bulder digital channel), and the Board proposed an ordinary dividend of NOK 7.50 per equity certificate (≈ NOK 823 million); the report also describes substantial customer and social dividend allocations and regional sustainability initiatives.

Profitability

Sparebanken Vest AS delivered a pre‑tax profit of NOK 4,418m for 2023 and an ROE of 16.5% (2022: 14.6%). The report attributes the improved result mainly to higher net interest income and low credit losses.

Capital and dividend

Year‑end CET1 capital ratio was 16.8%, above the bank’s regulatory buffer level. The Board proposed an ordinary dividend of NOK 7.50 per equity certificate (≈ NOK 823m). The Annual Report also details customer‑ and social‑dividend measures and an additional allocation adopted for 2022, reflecting the savings‑bank distribution model.

Lending, deposits and volumes

Gross lending grew strongly in 2023 (around 13–14% year‑on‑year), with retail lending representing the bulk of the book. Bulder—the bank’s mobile/digital mortgage channel—was a key growth driver. The Group reported approx. NOK 306bn in assets under management and roughly 325,000 retail customers and 14,200 corporate customers.

Costs and efficiency

The bank reports one of the lowest cost‑to‑income ratios in the Norwegian market and highlights continued focus on efficiency and in‑house digital development to sustain a low cost base while scaling digital services.

Customer experience and digital strategy

Sparebanken Vest emphasises digital leadership (top‑ranked mobile banking scores) and a strategic push to convert digital solutions into commercial growth engines (friction‑free digital purchases and scaling Bulder), while keeping a personal, relationship‑based advisory model.

Capital markets, risk and outlook

The Annual Report flags an uncertain macro backdrop (higher rates, inflation, geopolitical risk) but notes robust capital and liquidity positions. Management expects some margin pressure and somewhat higher loan losses versus the very low levels in 2023, while targeting continued lending growth in 2024 and a return on equity target of 13% over time.

Sustainability and regional impact

Sparebanken Vest AS reinforces a 2040 net‑zero ambition and describes active measures to finance the green transition in Western Norway. The report documents sizable social and regional funding (sport, culture, community projects) tied to the bank’s mission as a locally anchored savings bank.