Skip to main content

Sbanken ASA: Lowers interest rates by up to 0.5 percentage points

Written by Customer Service on . Posted in Public Companies.

Sbanken has today decided to lower its interest rates on mortgages and deposits. The bank is also significantly lowering the interest rate on bridge financing to assist customers in a particularly trying time.Following the interest rate cut from the Norwegian Central Bank (Norges Bank) on March 13, Sbanken is now lowering interest rates by up to 0.5 percentage points.– The outbreak of the Coronavirus is affecting our customers in various ways and we aim assist them as best as we can. Customers with high leveraged mortgages are among the most affected, and we have therefore decided to hand out the largest rate cuts to those with the highest loan-to-value. We have also decided to lower the interest rate to customers with bridge financing, as they represent a group facing particularly high uncertainty in the current situation, says Øyvind Thomassen, CEO of Sbanken.  The interest rate on bridge financing is lowered by 1.06 percentage points, effective immediately.– In addition to supporting our customers with interest rate cuts, we have already started offering mortgage customers the option to postpone the payment of instalments. Some customers have already chosen to accept this offer and many are grateful for the flexibility that Sbanken now offers during this period, says CEO Øyvind Thomassen.Sbanken’s customers will receive notification regarding the changes in mortgage rates shortly. The reduction in interest rate will take effect for existing loans, excluding bridge financing, from 30 April. For new loan customers, the adjustment will take effect from tomorrow 18 March. Interest rate changes on all deposits will apply from 18 May. Updated price list will be made available tomorrow 18 March on Sbanken.no.Contact details,Investor relations
Jesper M. Hatletveit, Head of IR, Sbanken ASA, +47 959 40 045
Henning Nordgulen, CFO, Sbanken ASA, +47 952 65 990
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.