Funding

Customer deposits have historically been the bank's primary source of funding. Skandiabanken AB introduced a NOK unsecured bonds (MTN) program in 2012 and a NOK covered bonds program in 2013.

In connection with the establishment of Skandiabanken ASA (now Sbanken) as a stand-alone Norwegian bank on 5 October 2015, the bank established its own funding program for securities financing. This took place by:

• The establishment of a new Norwegian covered bonds program, which replaced covered bonds previously issued by Skandiabanken AB.
• The transfer of senior unsecured bonds previously issued by Skandiabanken AB by way of a change of debtor.

For more information regarding funding please see quarterly report or contact Skandiabanken's Treasury department by email at: treasury@sbanken.no.