Lysbilde 1

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SpareBank 1 SR-Bank Group
First quarter 2007
26 April, 2007
2
High activity in Q1 2007

• Successful rights issue.
• Geographic expansion in both Hordaland and Agder.
  New office in Søgne.
• IRB application approved.
• Capital Markets division established.
• Mandatory occupational pension (OTP) - increased
  focus on additional RM-sales.
• The PRO-school.
• Increased sale of real estate projects.
• New CEO in EiendomsMegler 1 (real estate broker).
• Agreement between SpareBank 1 SR-Bank and mobile
  telephone company Chess.
• Skills developement.

3
Good result high activity and marked increase
in savings and placement income

• Group profit before tax NOK 287 mill. (NOK 251
  mill.).
• Return on equity after tax 20.8 (21.3 ).
• Net interest income NOK 288 mill. (NOK 268
  mill.).
• Net commission and other income NOK 190 mill.
  (NOK 156 mill.).
• Net return on investment securities NOK 104
  mill. (NOK 101 mill.).
• Growth in lending NOK 24.3 (14.6 ) last 12
  months, of which RM 16.0 and CM 41.8 .
• Growth in deposits 13.3 (14.8 ) last 12
  months, of which RM 8.5 and CM 17.3 .
• Profit per primary capital certificate (parent
  bank) NOK 5.1 (NOK 4.6).
• Rights issue fully subscribed significant
  interest.

(Profit so far in 2007. Figures for corresponding
period in 2006 shown in parentheses.)
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Successful rights issue

• Significant interest in the public rights issue
  of NOK 548 mill.
• Total PCC subscription of NOK 1,073 mill. by
  8,501 subscribers.
• A good market for the subscription rights was
  created. Approx. 26 of the subscription rights
  were traded through Oslo Stock Exchange during
  the subscription period.
• A private placing of PCCs with the employees
  amounted to NOK 35.8 mill. 546 employees
  subscribed.
• As a result of the rights issue and private
  placement the PCC ratio was strengthened from
  51.0 to 57.5 . A weighted average of 55.9
  will be used as a basis for allocating the profit
  for the year.

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Income statement
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Key figures
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Net interest income and margins - Continuous
pressure on lending margin
1,65
0,99
0,66
8
Lending growth (12 months) - Still high growth
31.03.07
CM 36,8
RM 63,2
RM-growth includes mortgage loans transferred to
SpareBank 1 Boligkreditt AS.

• RM-growth Q1 07, annualized 11.7 .
• CM-growth (excl. public sector/finance) Q1 07,
  annualized 16.8 .

9
Deposits growth (12 months) - Relatively stable
growth
31.03.07
RM 43,6
CM 56,4
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Savings/placements - portfolio development
11
Net commission and other income - Good
development in income from savings/placements

• Good growth in
• Savings/placements
• Commission income real estate (EM1)

12
Net return on investment securities - High group
profit contribution from SpareBank 1 Group
13
Other operating income in of total income -
Our income basis is broadened
Excluding gain/loss on securities trading,
dividend and ownership stakes. Financial
statements before 2004 are not prepared according
to IFRS.
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Subsidiaries - A higher level of diversification
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Operating costs
16
Net losses on loans and guarantees
17
Gross non-performing loans
18
Financial targets

• SR-Bank aims for a return on equity of 15 per
  cent, or being among the best third of banks with
  which it is natural to compare onself.
• The board of directors has decided to change the
  target for the core capital ratio to a minimum of
  7 and the target for the capital adequacy ratio
  to a minimum of 11 awaiting the positive
  effects of the introduction of Basel II.
• Total operating costs as a percentage of total
  operating income (excl. securities losses/gains).

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Høyt aktivitetsnivå og god utvikling innenfor de
fleste av divisjonens virksomhetsområder Fortsatt
press på rentemargin grunnet den generelle
konkurransesituasjon og effekten av Norges
Bankss rentehevinger Relativt høy og økende
volumvekst kompenserer for noe av
marginfallet Andre inntekter viser stabil og
positiv utvikling. Utviklingen innenfor spare- og
plasseringsområdet er spesielt god God
kostnadskontroll Forberedelse til pilotkjøring
i april for å innplassere boliglån i Spare Bank
1 Boligkreditt gjennomført Tegning av OTP (
Obligatorisk tjenestepensjon ) i tråd med plan.
Høyt aktivitetsnivå i Agder. Stor og positiv
oppmerksomhet i markedet og god vekst. Nytt
kontor åpnet i Farsund den 14. mars.
Forbedelsene til bankens satsning i Bergen i
tråd med plan. Åpning 5 mai Stor interesse for
bankens kundeturer til l Kina til høsten. Ca 650
påmeldte Utvilingstrekkene i 1 kvartal forventes
å fortsette i 3 kvartal. Det forventes sterk og
økende konkurranse, god balansevekst, fortsatt
press på marginer, god vekst i andre inntekter og
kostnadskontroll
Retail Market Division

• The development in the savings/placement area is
  very good.
• Continued good balance sheet growth.
• Continued pressure on margins.
• The struggle for market shares in the non-life
  insurance area has become significantly
  intensified.
• To further strengthen the expertise of the
  advisors in the Retail Market Division the
  SR-Skolen is established.

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Corporate Market Division

• Positive profit development in the first quarter
  of 2007.
• Towards the end of 2006, the effort made as
  regards capital management for the Group's
  corporate customers was strengthened.
• The PRO concept has been well received in the
  market, and more than 500 of our SME customers
  now subscribe to this concept.
• Competition in all markets is strong and this
  situation is expected to last.
• The Corporate Market Division expects a continued
  good development in 2007.

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New business division Capital Markets

• Established in March 07. Continuous development
  throughout 07.
• All necessary licences in place
• Frank Billingstad head of Corporate

Capital Markets
Markets
Savings and placement
Corporate
Capital management

• Real estate
• Transactions

• SR-Investering
• SR-Forvaltning

• Client trading and advisory service
• Trading

• Strategy
• Investment committee

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SpareBank 1 SR-Bank has a position well suited to
meeting the increased level of competition

• The geographic expansion is widening our market
  area and is increasing our potential growth.
• Efforts in new business areas are contributing to
  growth in other operating income and gives us a
  higher level of diversification.
• The groups ability to change presents us with
  new possibilities regarding innovation.
• Measures taken to increase our level of expertise
  and skills as well as new hirings mean that we
  are able to meet the demands from advanced
  customers.
• SpareBank 1 SR-Banks current strategic efforts
  will strengthen our ability to meet increased
  competition in the future, and increases our
  earning potential.
• New business area - Capital Markets - to
  strengthen the savings and capital markets area.

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Appendix
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The primary capital certificate - ROGG

• Trading volume Q1 2007 6,0 (6,6 ).
• Number of ROGG owners 31.03.07 11.411 (10.781).
• Owner shares per 31.03.07
• From Rogaland, Agder and Hordaland 63,9 (49,1
  ).
• Non-domestic 7,1 (18,3 ).
• 10 largest 24,1 (25,2 ).
• 20 largest 30,9 (31,4 ).

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Key figures - ROGG
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Capital adequacy
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Rating
In Q1 07 Moodys introduced a new rating method
for banks. In connection with this the SpareBank
1 SR-Bank rating for long-term bank deposits was
raised to Aa3 (stable outlook) from A2 (stable
outlook). The short-term rating is still P-1 and
Bank Financial Strength Rating (BFSR) is
unchanged at C.
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Change in net interest income - Strongly
affected by lower lending margin
29
Lending by industry 31.03.07
Mining/Extraction
Power/Water Supply
Industry
Other
Real Estate
Service Industry
Commodity trade/hotels
Agriculture/Forestry
Shipping/Transportation
Retail customers
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Balance sheet
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SpareBank 1 SR-Bank

• Established in 1839
• Head office in Stavanger
• 53 offices in South-Western Norway
• More than 200,000 customers
• Chairman of the Board Kristian Eidesvik
• Chief Executive Officer Terje Vareberg
• Chairman Supervisory Board Svein Kjetil Søyland
• Chairman Audit Committee Odd Rune Torstrup
• External Auditor PricewaterhouseCoopers

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EiendomsMegler 1 SR-Eiendom AS 100
SpareBank 1 SR-Finans AS 100
SpareBank 1 Gruppen AS 19,5
SR-Forvaltning ASA 67
SR Investering AS 100
SpareBank 1 Boligkreditt AS 26,7

• Asset management

• ODIN Forvaltning AS
• SpareBank 1 Livsforsikring AS
• SpareBank 1 Skadeforsikring AS
• SpareBank 1 Fondsforsikring AS
• Bank 1 Oslo AS
• SpareBank 1 Medlemskort AS
• First Securities ASA
• SpareBank 1 Bilplan AS

• Investment in
• long-term equity

• Mortgage company

• Real-estate agency
• - Houses
• - Business
• - Projects
• Market leader in Rogaland

• Leasing
• Financing

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Localized in Rogaland, Agder and Hordaland

• Head office in Stavanger
• 53 branches in Rogaland, Agder and Hordaland

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SpareBank 1 Alliance
Owners
SpareBank 1 Gruppen AS
SpareBank 1 Fondsforsikring AS 100
Bank 1 Oslo AS 100
SpareBank 1 Livsforsikring AS 100
SpareBank 1 Skadeforsikring AS 100
SpareBank 1 Bilplan AS 19,9
First Securities ASA 24,5
SpareBank 1 Medlemskort AS 100
ODIN Forvaltning AS 100
EiendomsMegler 1
Actor Fordringsforvaltning AS 90

• New members in 2006
• Sparebanken Hedmark
• Kvinnherad Sparebank
• Sparebanken Volda Ørsta
• Sparebanken Hardanger

• SpareBank 1 Alliance, key figures
• Total assets ca NOK 356 billions
• No. of own branches ca 350
• Total no. of branches ca 380
• Employees ca 4.700
• Internet customers ca 445.000
• As of June 2006/Annual report 2006

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Strategy

• SpareBank 1 SR-Bank shall be a profitable and
  solid bank that is attractive to customers,
  capital markets, owners and employees alike.
• Through
• A savings bank philosophy with a strong brand and
  modern bank operations, where value is created
  locally and further employed in the local
  community.
• Clear prioritization based on customer needs and
  profitability.
• Our market area is primarily Rogaland, Agder and
  Hordaland.
• Clear position in the savings/pension market.
• Competent employees who take pride in working for
  SpareBank 1 SR-Bank.

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will
What separates one bank from another? Interest
rates, fees and products are often the same. But
have you asked your bank what they want? Or what
role they want to play? Our answer is
simple. The objective of SpareBank 1 SR-Bank is
to help create values for the region we are part
of, and the only way in which we can do this is
through the achievements of our 1,018
employees. Its a matter of will.
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SpareBank 1 SR-Bank will add value to the
region in which we take part.
purpose
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values
The courage of conviction, the strength to create

• Through being/having
• a long-term perspective
• open and honest
• Through showing
• responsibility and respect
• will and ability to improve