NCR Comments: Resurs Bank 'BBB' rating and outlook unchanged following finalised bid
Acquiring entity confirms bid as finalised at 87%, bank to remain listed for now.
Financial
Melhus Sparebank
Melhus Sparebank (MelhusBanken) is a Norwegian savings bank headquartered in Melhus municipality. Established in 1840, it is one of the country's oldest independent savings banks. MelhusBanken offers a range of financial services to household and corporate borrowers. These services include savings accounts, loans, mortgages, investment services, insurance, and advisory services related to personal and business finance. The bank has a strong local presence, primarily serving the community in Melhus and the regional centre of Trondheim. MelhusBanken is a member of the Eika Alliance.
Nordic Credit Rating accepted by Norges Bank
As of 1 Oct. 2024, Norges Bank accepts credit ratings from NCR when determining eligible assets under its collateral program. Full details can be found here.
For more information, please contact Henrik Blymke, Chief Commercial Officer, Nordic Credit Rating.
Tolga-Os Sparebank
Tolga-Os Sparebank was created in 1865 in Tolga municipality, Eastern Norway, and has since expanded its core market to the south. Tolga-Os Sparebank's core market is in the area traditionally known as Østerdalen, located in the northeastern part of Innlandet county, and is increasing its presence in Elverum and Hamar.
Tolga-Os Sparebank is one of 16 savings banks in the Lokalbanksamarbeidet banking cooperative, which consisted of small and medium sized local savings banks.
Nordic consumer banks' earnings continue to offset elevated provisions
Non-performing loans continue to rise across sector.
NCR Comments: Haugesund Sparebank 'BBB+' rating and outlook unchanged by postponement of merger
Delay follows credit losses of NOK 77m at Tysnes Sparebank.
Nordic Credit Rating's view on distressed exchanges
Clarification on defining distressed exchanges and defaults.
Voss Veksel- og Landmandsbank ASA
Vekselbanken is the last remaining Norwegian local commercial bank, with roots dating back to 1899. Its business model is, however, similar to those of domestic savings banks. The bank provides core banking services through its headquarters in Voss municipality in Vestland county and a branch in the smaller municipality of Eidfjord. The bank's primary market encompasses the Voss region and surrounding areas, with emphasis on retail customers and SMEs. Vekselbanken has been listed on the Oslo Stock Exchange since 1992 and is a member of the Eika Alliance.
Webinar: Norwegian niche banks eye capital relief in Sweden (Q2 2024)
Nordic Credit Rating invites you to join our webinar focusing on our view of the Q2 2024 results and the outlook for the Nordic niche banks. We will cover banks' earnings, asset quality and capital, as well as recent events and trends for the sector.
In addition, we'll discuss the recent announcements that Norway-based Lea Bank will move operations to Sweden as well as Morrow Bank's similar interest. We will also address Marginalen Bank's capital situation and the announcement that its owner company is working on refinancing capital instruments.