Norwegian mid-size savings banks maintain growth in a competitive market
Loans grow in line with the market; deposits prove more stable.
NO
Fredrikstad Energi AS
The rating was withdrawn on 19 Dec. 2024.
Skue Sparebank
Skue Sparebank was formed in 2013 from the merger of Nes Prestegjelds Sparebank and Hol Sparebank, after which it merged with Hønesfoss Sparebank in 2020. Today, the bank has 10 offices spread across most of Buskerud County. The bank is a member of the Eika alliance. It has equity capital certificates that trade on the Oslo Stock Exchange.
Orkla Sparebank
Orkla Sparebank is an independent savings bank located in Orkland municipality. The bank's origins date back to 1841 and it was formed after the merger of the neighbouring savings banks, Orkdal Sparebank and Meldal Sparebank, in October 2017. Today, the bank has seven offices spread over Trøndelag County and its primary market is located in the municipalities of Orkland, Rennebu, Skaun and Trondheim.
Nordic consumer banks' earnings compensate elevated credit losses
Earnings performance adds buffer for high loan-loss provisions.
Småkraft AS
Småkraft is a Norway-based hydropower producer which owns and operates over 220 power plants. It is Europe's largest small-scale hydropower producer. The company operates plants in Norway and Sweden, with Norway dominating revenues and production capacity. Småkraft develops, operates and invests in power plants in cooperation with landowners, which carry out maintenance and supervision. Most of the facilities are run-of-river plants with low impact on local biodiversity.
Webinar: Norwegian savings banks
On 28 Aug 2023, Nordic Credit Rating publishes a sector commentary on Norwegian savings banks. In connection with this publication, the analytical team will present their view of the banks and the market, seen in the light of the recently published half-year results.
Please note that the webinar will be held in Norwegian.
Nordic consumer banks' loss provisions remain elevated
Q1 performance confirms trends of previous quarter, while NPL metrics rise slightly.
NCR Comments: Nortura SA 'BBB-' long-term rating unaffected by T1 2023 results
Covenant headroom healthy in relation to temporarily elevated levels.
Austevoll Seafood ASA
Austevoll was founded as Austevoll Havfiske AS in 1981 by the Møgster family. It is a major seafood company with operations in the North Atlantic and South Pacific and facilities and sales worldwide. As the majority owner of Lerøy Seafood Group ASA, Austevoll covers the entire Atlantic salmon value chain. It has prominent operations in pelagic and whitefish fishery, fishmeal, and oil production. Its subsidiaries include Austral Group S.A.A., Foodcorp Chile S.A., Br.