SpareBank 1 Ringerike Hadeland: Update to credit analysis
Our credit view of this issuer reflects its low levels of problem loans, against its highly concentrated geographic and sector exposure, especially in Corporate Real Estate.Sparebank 1 Ringerike Hadeland (the Bank) is a Norway-based regional bank. The Bank operates in the Ringerike Hadeland region and in the area of Nittedal and Gjovik, in the southern part of Norway. As of December 31, 2011, the Bank was engaged in the provision of banking services through its 10 offices, of which six were local bank offices and four were branch offices. It targets both private individuals and businesses. To private individuals, the Bank offers products and services within loans, deposits, investment products, insurance and pension products and payment solutions. To businesses, the Bank offers, among others, specialized consulting. The Bank has one subsidiary, namely the 80%-owned Eiendomsmegleren Ringerike Hadeland AS. As of January 1, 2012, the Bank's two other subsidiaries: Gran Sparebank Eiendom AS and JLN Invest AS merged with the Bank. The Bank is a member of the SpareBank1 bank alliance, which comprises 15 independent Norwegian banks.
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