Pursuant to Section 13-6, seventh paragraph, second section of the Financial Institutions Act, The Financial Supervisory Authority of Norway (FSA) has decided that in addition to the minimum and buffer capital requirements, Bank Norwegian AS and Norwegian Finans Holding ASA shall have a Pillar 2 capital requirement of 5.8% of risk weighted assets, corresponding to at least NOK 2 030 million. The bank is also expected to keep a management buffer of 1.0%.
The Pillar 2 capital requirement comes into effect 31.03.20. From this date, the CET1 requirement for Norwegian Finans Holding ASA is estimated at 18.5%, a reduction of 0.4 percentage points from the current CET1 requirement including the 3.0% buffer requirement required for distributing excess capital. As of 30.09.19 Norwegian Finans Holding ASA had a CET1 ratio of 20.2% and Bank Norwegian AS a CET1 ratio of 20.6%.
Contact persons:
Head of treasury Mats Benserud; phone +47 95891539
CFO Pål Svenkerud; phone +47 93403904
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act