AnnualReport2021

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Board of Directors’ Report The financial statements have been prepared in accordance with IFRS. All figures relate to the Group. Figures in brackets refer to the corresponding period in 2020. Areas of operation and markets Key figures 2021 Sparebanken Møre is an independent, listed financial services group, which consists of the parent bank, the mortgage company Møre Boligkreditt AS, the estate agency Møre Eiendomsmegling AS, and the property company Sparebankeiendom AS. Sparebanken Møre was established in 1985 by the merger of a number of local savings banks. The oldest bank that was part of this merger was Herrøe og Røvde Sparebank, which was founded in 1843. In the years since then, a strong local presence has been the very foundation of the bank’s business, and today Sparebanken Møre is the leading financial services group in our market area, Nordvestlandet. At the end of 2021, the bank employed 364 full-time equivalents (FTEs) spread across 27 branches in Møre og Romsdal. The bank’s head office is in Ålesund. Over many years, the bank has built up a large expert environment in relation to the retail and corporate markets, as well as the equity-, interest rate- and currency markets. Together with is subsidiary Møre Eiendomsmegling AS, Sparebanken Møre is a full-service bank for people, businesses and the public sector in Nordvestlandet. Sparebanken Møre offers a full range of financial services within the following areas: • Funding • Deposits and investments • Asset management • Financial advisory services • Money-transfer services • Currency and interest rate business • Insurance • Real estate brokerage

Sparebanken Møre Annual report 2021

Group’s key figures • Profit after tax: NOK 642 million (NOK 567 million) • Return on equity after tax: 9.5 per cent (8.6 per cent) • Lending growth in the past 12 months: 4.6 per cent (4.4 per cent) • Deposit growth in the past 12 months: 7.3 per cent (6.0 per cent) • Primary capital amounted to 20.9 per cent (20.8 per cent) and Tier 1 capital 18.9 per cent (18.7 per cent), of which Common Equity Tier 1 capital amounted to 17.2 (17.0 per cent) • Earnings per equity certificate: NOK 31.10 (NOK 27.10) • The Board of Directors recommends that the Annual General Meeting pays a cash dividend of NOK 16.00 per equity certificate and sets aside NOK 160 million for dividend funds for local communities.

Parent bank’s key figures • Profit after tax: NOK 639 million (NOK 561 million) • Primary capital amounted to 22.7 per cent (21.2 per cent) and Tier 1 capital 20.5 per cent (19.0 per cent), of which Common Equity Tier 1 capital amounted to 18.6 (17.2 per cent) • Earnings per equity certificate: NOK 30.98 (NOK 26.83)

Board of Directors’ Report Statement and results

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