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Regional Norwegian savings bank serving southern Norway, part of the SpareBank 1 alliance of independent banks.
Regional Norwegian savings bank serving southern Norway, part of the SpareBank 1 alliance of independent banks.
Earns mostly from the gap between mortgage and business-loan rates and its funding costs, with fees and a share of profit from part-owned SpareBank 1 alliance companies, which cover insurance, payments and mortgage funding. Part of its home loans are funded by covered bonds sold through an alliance vehicle.
In one line: A Norwegian regional community bank/credit union hybrid.
Moat: narrow (scale, distribution, switching costs). Deep local branch presence and the shared SpareBank 1 brand/product alliance support customer retention.
Headquarters: Stavanger, Norway · Employees: 2,465
Size Sparebank 1 Sor-norge (SB1NO.OL) is a Norway Financials company (Savings Banks) with a market value of $9.31B, the 13th largest of 115 Norway companies the cockpit tracks. Shares closed at NOK 232.50 on 6 Nov 2026.
Performance Over six months the shares gained 24.5%, against +10.1% for the median peer and +2.7% for the Norway market (cap-weighted) — 2nd highest of 8 in its peer set.
Growth Revenue fell 4.6% over the last twelve months (peer median +4.5%); the operating margin is 60.5% (peer median 39.8%).
Valuation It trades at 1.69× book value against a peer median of 1.09× (3rd most expensive of 8).
Price implies The share price implies a return on equity of about 12.4%; Sparebank 1 Sor-norge delivers 12.5%, so the price asks less than the business earns today.
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NOK 30.1B | NOK 31.2B | NOK 26.5B | NOK 21.0B | NOK 11.5B |
| Revenue growth | — | +18% | +26% | +82% | — |
| Net income | NOK 6.32B | NOK 6.37B | NOK 4.91B | NOK 4.30B | NOK 3.29B |
| Free cash flow | -NOK 2.51B | NOK 15.6B | NOK 5.21B | NOK 23.2B | -NOK 8.14B |
| Capital expenditure | NOK 135M | NOK 208M | NOK 184M | NOK 124M | NOK 97.0M |
| Total debt | NOK 242B | NOK 220B | NOK 215B | NOK 165B | NOK 152B |
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 Sor-norge SB1NO.OL | $9.31B | +24% | -5% | 13% | 1.69× | 12.4% |
| DNB Bank DNB.OL | $50.0B | +16% | -8% | 15% | 1.76× | 11.2% |
| 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% |
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 | SB1NO.OL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.7% | +4.1% | 2nd highest of 8 |
| 6-month return | +24.5% | +10.1% | 2nd highest of 8 |
| Return on equity | 12.5% | 9.1% | 2nd highest of 8 |
| Price / book | 1.69× | 1.09× | 3rd most expensive of 8 |
| Trailing P/E | 13.7× | 12.4× | 4th most expensive of 8 |
| ROE the price implies | 12.4% | 9.2% | 4th most demanding of 8 |
| ROE delivered | 12.5% | 9.1% | 2nd highest of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Sparebank 1 Sor-norge SB1NO.OL | Norway | $9.31B | +24% | -5% | 13% | 1.69× | 12.4% | 12.5% |
| Storebrand STB.OL | Norway | $8.94B | +13% | +40% | 14% | 2.56× | 16.1% | 13.9% |
| TFS Financial TFSL | United States | $4.61B | +9% | +6% | 5% | 2.72× | 18.1% | 5.1% |
| WSFS Financial WSFS | United States | $3.99B | +10% | +2% | 12% | 1.53× | 12.4% | 12.4% |
| 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% |