November 19, 2012 at 03:05 AM EST
SpareBank 1 SMN not directly affected by contractor bankruptcy

The board of directors in Teknobygg Entreprenør has today announced bankruptcy of the company to Sør-Trøndelag District court. Teknobygg Entreprenør was part of the Maja Teknobygg group, which is a customer of SpareBank 1 SMN. The bank has no direct exposure to the company in liquidation. The bank`s exposure to the group is primarily related to real estate financing in the sibling company Maja Eiendom. The bank has sufficient security coverage for the bank`s exposure to the Maja Teknobygg group.

Trondheim, 19 November 2012

Contact in SpareBank 1 SMN:

Executive Director of Finance Kjell Fordal, tel. +47 905 41 672.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)




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(i) the releases contained herein are protected by copyright and other applicable laws; and
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information contained therein.

Source: SpareBank 1 SMN via Thomson Reuters ONE

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