Note 1 Accounting policies
The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS), including IAS 34 – Interim Financial Reporting. The accounting principles applied are consistent with those used in the annual financial statements for 2025, unless otherwise specified. There are no new standards effective in 2026 that have had a significant impact on the financial statements.
Sparebanken Sør and Sparebanken Vest merged with accounting effect from 2 May 2025 to form Sparebanken Norge. The merger between Sparebanken Norge and Oslofjord Sparebank was completed with accounting effect from 1 December 2025. The comparative figures for 2025 include the results of the former Sparebanken Sør and Oslofjord Sparebank from their respective merger dates. The results for 2026 reflect the combined operations for the entire period and are therefore not directly comparable with the corresponding periods in 2025. The balance sheet figures as at 30 September 2026 also include the former Oslofjord Sparebank, which was not included in the balance sheet as at 30 September 2025.
All figures are presented in NOK million unless otherwise stated.
A tax rate of 25 percent has been applied in the preparation of the interim financial statements for the parent bank, Brage Finans AS, Sørlandets Forsikringssenter AS and Borea Asset Management. For the other subsidiaries, a tax rate of 22 percent has been applied.
Discretionary assessments, estimates and assumptions
In preparing the financial statements, management has made discretionary assessments, estimates and assumptions that affect the application of accounting policies and the reported amounts of income. Expenses, assets and liabilities. These estimates and assumptions are reviewed on an ongoing basis and are based on historical experience, relevant market conditions, and other factors, including expectations about future events that are considered probable as of the balance sheet date.
A detailed description of accounting policies, significant estimates and areas where management exercises judgement is provided in Note 2 of the 2025 Annual Report. The same principles and assessments have been applied in this quarterly report.
One significant accounting item subject to considerable judgement is the calculation of expected credit losses (ECL). Losses on loans and guarantees are estimated in accordance with the requirements of IFRS9 and are sensitive to changes in macroeconomic assumptions and assessments of customers’ future creditworthiness. The impairment model is forward-looking and incorporates relevant macroeconomic variables and trends. Changes in the economic outlook or other macroeconomic factors require continuous assessment and updates to model parameters to ensure that expected credit losses represent the best possible estimate based on available information.