Sandnes Sparebank is a well-established local savings bank operating in south-west Norway and enjoys significant benefits from being a member of the Eika Alliance, a strategic alliance of around 50 local banks in the country. The bank has demonstrated robust lending growth with total loan growth of 9.2% over the trailing twelve months, with retail clients representing 76% of the total loan portfolio.
Cyborg Score Rationale
The bank's operating performance continues to be solid with a return on equity of 8.5% in 2022 following de-risking efforts. Asset quality remains sound with Stage 3 ratio at 1.0% and strong capital ratios (CET1 17.8%, leverage 9.0%) as of year-end 2022.
Top Insights
The bank experienced "historic" retail market growth with 9.9% year-over-year growth in personal lending.
Sandnes Sparebank completed the acquisition of Hjelmeland Sparebank on August 1, 2024, expanding its market presence.
Member of the Eika Alliance, a strategic network of approximately 50 Norwegian savings banks providing competitive advantages.
While operating in an oil and gas-exposed region, the bank's direct exposure to this industry is immaterial.
Named Competitors
Regional Banking — Scandinavian regional bank
Universal Banking — Swedish universal bank with Nordic operations
Specialist Banking — European specialist bank offering mortgages and personal loans
Recent Developments
(August 2024) Completed acquisition of Hjelmeland Sparebank for NOK 170 million
(2025) Achieved 9.9% growth in retail market lending and expanded customer base significantly
(March 2023) Scope Ratings affirmed A- issuer rating with Stable Outlook
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