Scope Ratings has updated its issuer rating report on Sandnes Sparebank, rated A- with Stable Outlook.

Rating affirmation reflects ongoing resilience of the bank's business and operating performance.

The bank will benefit from a strengthened market position and further opportunities for growth.

The A- issuer rating reflects Sandnes Sparebank’s well established local savings bank franchise in south-west Norway, solid and resilient earnings capabilities as well as sound prudential metrics.

Rating continues to reflect resilient and sound credit fundamentals.

Scope Ratings has updated its analytical report on Sandnes Sparebank, rated A- with Stable Outlook.

Rating affirmation reflects ongoing resilience of bank's business and operating performance.

Rating upgrade reflects new seniority ranking in updated creditor hierarchy and is in line with Scope’s bank rating methodology.

Rating affirmation reflects the resilience of the group's business and operating performance throughout the pandemic

Rating upgrade reflects management's consistent execution of its strategy to de-risk and strengthen the bank's franchise. The bank's business and financial profile are expected to remain in line with other similiarly rated Norwegian savings banks.