SpareBank 1 SMN not directly affected by contractor bankruptcy

Posted on November 19, 2012 at 03:05 AM EST

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)

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: SpareBank 1 SMN via Thomson Reuters ONE

HUG#1658977

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates