In 2025, SPAREBANK 1 SØR-NORGE ASA achieved the position of 2nd largest bank in Norway with a market share of 7.03% and the 1st largest savings bank in Norway with an 18.15% market share. The bank is part of the SpareBank 1 Alliance, which is a banking and product alliance between independent, locally based Norwegian banks, enabling scale while maintaining local presence and customer focus.
Cyborg Score Rationale
The bank achieved 6.36% asset growth in 2025 with 1.39% return on assets and 11.15% return on equity. The bank targets above 14% return on equity, a cost/income ratio below 35%, and a CET1 ratio above 17.6%, demonstrating solid capital management and profitability targets.
Top Insights
Major October 2024 merger consolidated two regional banks (SR-Bank and Sørøst-Norge) into a unified entity, creating a larger platform for Northern and Southern Norway coverage
Commands 18.15% market share among Norwegian savings banks, making it the dominant player in the savings bank segment
Subsidiary SR-Boligkreditt AS purchases mortgages and finances them through covered bonds, supporting a diversified funding model
Dividend policy targets distribution of around 50% of annual profit, signaling commitment to shareholder returns
Named Competitors
DNB Bank — Norway's largest bank
Nordea Bank — Nordic banking and financial services
SpareBank 1 Nord-Norge — Regional savings bank in Northern Norway
SpareBank 1 SMN — Regional savings bank in Central Norway
Recent Developments
(October 2024) Completed merger of SpareBank 1 SR-Bank and SpareBank 1 Sørøst-Norge into unified SpareBank 1 Sør-Norge entity
(2025) Achieved 7.03% national market share and 6.36% asset growth, reaching NOK 411.51 billion in total assets
(April 2026) Published updated banking overview positioning SpareBank 1 Sør-Norge as Norway's 2nd largest bank with strong capital metrics
Open the full interactive SpareBank 1 Sør-Norge ASA report
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