Nordic consumer banks increase loss provisions amid rising cost of living
Strong Q4 earnings bolster regional niche lenders’ capital ratios.
Eiendomskreditt was established in 1997 and is a regulated mortgage credit institution based in Bergen, Norway. The company is a specialised mortgage provider, financing commercial real estate for SME borrowers, multi-family rental housing and housing association mortgages. The company has issued covered bonds in Norway since 2009 and received approval to issue European Covered Bond (Premium) covered bonds in 2022. As of 31 Dec. 2022, over 98% of loans are included in the cover pool.
Jæren Sparebank was formed in 2015 from the merger of Klepp Sparebank and Time Sparebank, which dated back to 1923 and 1911, respectively. Today, Jæren Sparebank's main office is located in Bryne, while the bank also has offices located at Klepp, Varhaug and Ålgård. The bank operates as an independent savings bank and has equity capital certificates that trade on the Oslo Stock Exchange.