Financial strategy
Sparebanken Møre's financial strategy is intended to underpin the bank's goal of a strong capital and liquidity position with the ability to serve customers from Northwest Norway.
Financial strategy
Sparebanken Møre's financial strategy is intended to underpin the bank's goal of a strong capital and liquidity position with the opportunity to serve customers from Northwest Norway and have freedom of action in relation to the market, competitors and authorities.
Deposits will continue to be the primary source for Sparebanken Møre's (the Group's) financing of loans. The Bank has established internal measures relating to the deposit-to-loan ratio.
With regard to financing in the capital market, the refinancing of bonds issued by Møre Boligkreditt AS and Sparebanken Møre, as well as the financing of growth, will be adapted to indicators such as the Liquidity Coverage Ratio (LCR), the Net Stable Funding Ratio (NSFR) and the EU's Bank Recovery Regulation Directive (BRRD). Objectives have been established related to the instrument/issuer, market and currency. Rating is important for the Group's market funding, and working methods and objectives have been established in the follow-up of this area.
Sparebanken Møre shall have subordinated capital adapted to requirements and market expectations. The Bank thus has a long-term target for CET1 that shall at least be the sum of the Pillar 1 requirement, the Pillar 2 requirement and the capital requirement margin, a level of bonus bonds (AT1) of at least 1.5% and subordinated loan capital (T2) of at least 2.0% of the benchmarked assets.
Sparebanken Møre has received MREL requirements, including requirements for subordinated capital, from the Financial Supervisory Authority of Norway. The bank must meet the subordinated capital requirement from 1 January 2024 and will issue senior non-preferred capital (T3) in line with the requirement for a minimum straight-line phase-in.
Sparebanken Møre must at all times have liquidity and internal reporting, long-term financing and diversification of deposits and capital market borrowing in accordance with the content and requirements of Finanstilsynet's liquidity module.
All of Sparebanken Møre's equity and debt capital instruments are and will be listed on a regulated marketplace.
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