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Regional Norwegian savings bank serving Trondheim and Central Norway, part of the SpareBank 1 alliance.
Regional Norwegian savings bank serving Trondheim and Central Norway, part of the SpareBank 1 alliance.
Earns mainly from the gap between loan interest and deposit costs in Central Norway, with extra income from its shares of the SpareBank 1 alliance's insurance, asset-management and payments companies, which it co-owns with other savings banks. The listed securities are equity certificates, which work like shares but give limited control rights.
In one line: A Norwegian regional savings bank for Central Norway (Trondheim).
Moat: narrow (switching costs, distribution). Dominant regional deposit franchise built through savings bank heritage in Central Norway.
Headquarters: Trondheim, Norway · Founded: 1823 · Employees: 1,899
Size SpareBank 1 SMN (MING.OL) is a Norway Financials company (Savings Banks) with a market value of $3.38B, the 27th largest of 115 Norway companies the cockpit tracks. Shares closed at NOK 217.95 on 6 Nov 2026.
Performance Over six months the shares gained 16.3%, against +9.2% for the median peer and +2.7% for the Norway market (cap-weighted) — 4th highest of 14 in its peer set.
Growth Revenue fell 5.7% over the last twelve months (peer median +5.9%); the operating margin is 47.4% (peer median 39.8%).
Valuation It trades at 1.08× book value against a peer median of 1.18× (6th cheapest of 14).
Price implies The share price implies a return on equity of about 7.0%; SpareBank 1 SMN delivers 8.8%, so the price asks less than the business earns today.
Credit SpareBank 1 SMN has 5 bonds outstanding ($2.01B), rated Aa3 by the agencies and trading like A at a weighted spread of 75 bp.
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NOK 15.7B | NOK 16.4B | NOK 16.2B | NOK 14.0B | NOK 8.10B |
| Revenue growth | — | +1% | +15% | +73% | — |
| Net income | NOK 2.54B | NOK 2.76B | NOK 2.90B | NOK 2.22B | NOK 1.48B |
| Free cash flow | NOK 5.64B | NOK 3.25B | NOK 3.72B | NOK 6.71B | -NOK 4.00B |
| Capital expenditure | NOK 109M | NOK 148M | NOK 241M | NOK 95.0M | NOK 89.0M |
| Total debt | NOK 56.6B | NOK 59.3B | NOK 69.0B | NOK 63.2B | NOK 66.3B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| SpareBank 1 SMN MING.OL | $3.38B | +16% | -6% | 9% | 1.08× | 7.0% |
| SpareBank 1 Nord-Norge NONG.OL | $1.96B | +26% | -4% | 8% | 0.93× | 6.6% |
| Sparebank 1 Ostlandet SPOL.OL | $3.01B | +9% | -2% | 9% | 1.09× | 7.1% |
| DNB Bank DNB.OL | $50.0B | +16% | -8% | 15% | 1.76× | 11.2% |
| Sparebanken Norge SBNOR.OL | $3.78B | +8% | +62% | 7% | 0.71× | 6.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MING.OL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.1% | +4.0% | 8th highest of 15 |
| 6-month return | +16.3% | +9.2% | 4th highest of 14 |
| Return on equity | 8.8% | 10.0% | 6th lowest of 14 |
| Price / book | 1.08× | 1.18× | 6th cheapest of 14 |
| Trailing P/E | 12.4× | 13.7× | 6th cheapest of 14 |
| ROE the price implies | 7.0% | 9.3% | 2nd least demanding of 14 |
| ROE delivered | 8.8% | 10.0% | 6th lowest of 14 |
| Bond spread | 75 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| SpareBank 1 SMN MING.OL | Norway | $3.38B | +16% | -6% | 9% | 1.08× | 7.0% | 8.8% |
| Sparebank 1 Ostlandet SPOL.OL | Norway | $3.01B | +9% | -2% | 9% | 1.09× | 7.1% | 9.1% |
| Columbia Financial CLBK | United States | $2.99B | +25% | +23% | 2% | 0.95× | 6.2% | 2.3% |
| Provident Financial Services PFS | United States | $2.99B | +2% | +4% | 11% | 1.05× | 9.2% | 11.0% |
| WSFS Financial WSFS | United States | $3.99B | +10% | +2% | 12% | 1.53× | 12.4% | 12.4% |
| TFS Financial TFSL | United States | $4.61B | +9% | +6% | 5% | 2.72× | 18.1% | 5.1% |
| Northwest Bancshares NWBI | United States | $2.23B | +10% | +13% | 11% | 1.18× | 9.3% | 10.7% |
| Shawbrook SHAW.L | United Kingdom | $1.96B | -12% | +5% | 12% | 0.79× | 8.0% | 12.2% |
| OceanFirst Financial OCFC | United States | $1.82B | -4% | +31% | 2% | 0.75× | 8.1% | 2.3% |
| Triumph Financial TFIN | United States | $1.46B | -8% | +13% | 5% | 1.57× | 17.5% | 5.3% |
| American Savings Bank N.A ASBH | United States | $1.30B | n/a | n/a | n/a | n/a | n/a | n/a |
| Storebrand STB.OL | Norway | $8.94B | +13% | +40% | 14% | 2.56× | 16.1% | 13.9% |
| Sparebank 1 Sor-norge SB1NO.OL | Norway | $9.31B | +24% | -5% | 13% | 1.69× | 12.4% | 12.5% |
| Capitol Federal Financial CFFN | United States | $1.06B | +7% | +6% | 8% | 1.04× | 8.4% | 8.4% |
| TrustCo Bank Corp NY TRST | United States | $947M | +17% | +6% | 10% | 1.50× | 10.7% | 10.0% |
SpareBank 1 SMN has 5 bonds outstanding with $2.01B face value. The agencies rate it Aa3; its bonds trade like A. Weighted yield 3.72%, a spread of 75 bp over government bonds.