Norwegian (OSEAX) Regional Banks Industry Analysis

Industry Valuation and Performance

Has the Norwegian Regional Banks Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Thu, 09 Jul 2026	NOK 155.2b	NOK 42.3b	NOK 13.6b	12.2x	11.4x	3.7x
Sat, 06 Jun 2026	NOK 148.9b	NOK 42.3b	NOK 13.7b	12.4x	10.9x	3.5x
Mon, 04 May 2026	NOK 156.9b	NOK 42.6b	NOK 14.0b	12.2x	11.2x	3.7x
Wed, 01 Apr 2026	NOK 160.1b	NOK 42.6b	NOK 14.4b	11.5x	11.1x	3.8x
Fri, 27 Feb 2026	NOK 162.0b	NOK 42.6b	NOK 14.6b	11.1x	11.1x	3.8x
Sun, 25 Jan 2026	NOK 151.4b	NOK 42.4b	NOK 13.9b	11.6x	10.9x	3.6x
Tue, 23 Dec 2025	NOK 153.3b	NOK 42.4b	NOK 13.9b	11.1x	11.1x	3.6x
Thu, 20 Nov 2025	NOK 138.3b	NOK 42.4b	NOK 14.3b	9.8x	9.7x	3.3x
Sat, 18 Oct 2025	NOK 141.1b	NOK 42.2b	NOK 14.0b	11x	10.1x	3.3x
Mon, 15 Sep 2025	NOK 141.2b	NOK 42.2b	NOK 14.0b	11.1x	10.1x	3.3x
Wed, 13 Aug 2025	NOK 142.2b	NOK 41.7b	NOK 13.7b	11.4x	10.4x	3.4x
Fri, 11 Jul 2025	NOK 148.7b	NOK 40.1b	NOK 13.1b	11.7x	11.4x	3.7x
Sun, 08 Jun 2025	NOK 143.4b	NOK 40.1b	NOK 13.1b	11.4x	11x	3.6x
Tue, 06 May 2025	NOK 137.5b	NOK 38.9b	NOK 12.6b	11.9x	10.9x	3.5x
Thu, 03 Apr 2025	NOK 136.5b	NOK 38.9b	NOK 13.0b	10.5x	10.5x	3.5x
Sat, 01 Mar 2025	NOK 132.2b	NOK 39.0b	NOK 13.3b	9.8x	9.9x	3.4x
Mon, 27 Jan 2025	NOK 110.1b	NOK 38.6b	NOK 12.9b	10.1x	8.5x	2.9x
Wed, 25 Dec 2024	NOK 103.6b	NOK 38.6b	NOK 12.9b	9.7x	8x	2.7x
Fri, 22 Nov 2024	NOK 101.7b	NOK 38.3b	NOK 13.5b	8.3x	7.5x	2.7x
Sun, 20 Oct 2024	NOK 99.7b	NOK 36.4b	NOK 11.8b	9.6x	8.4x	2.7x
Tue, 17 Sep 2024	NOK 106.4b	NOK 39.5b	NOK 12.6b	9.5x	8.4x	2.7x
Thu, 15 Aug 2024	NOK 105.9b	NOK 39.3b	NOK 12.6b	9.6x	8.4x	2.7x
Sat, 13 Jul 2024	NOK 103.3b	NOK 38.5b	NOK 12.2b	9.3x	8.4x	2.7x
Mon, 10 Jun 2024	NOK 101.7b	NOK 38.1b	NOK 12.1b	9.4x	8.4x	2.7x
Wed, 08 May 2024	NOK 103.4b	NOK 37.2b	NOK 11.7b	9.5x	8.8x	2.8x
Fri, 05 Apr 2024	NOK 101.7b	NOK 36.5b	NOK 11.5b	9.2x	8.8x	2.8x
Sun, 03 Mar 2024	NOK 100.7b	NOK 36.3b	NOK 12.1b	8.7x	8.4x	2.8x
Tue, 30 Jan 2024	NOK 100.7b	NOK 34.6b	NOK 10.7b	9.4x	9.4x	2.9x
Thu, 28 Dec 2023	NOK 97.9b	NOK 34.5b	NOK 10.7b	9.2x	9.2x	2.8x
Sat, 25 Nov 2023	NOK 90.3b	NOK 34.4b	NOK 10.6b	9x	8.5x	2.6x
Mon, 23 Oct 2023	NOK 92.3b	NOK 32.7b	NOK 10.1b	9.5x	9.2x	2.8x
Wed, 20 Sep 2023	NOK 93.7b	NOK 32.7b	NOK 10.2b	9.2x	9.1x	2.9x
Fri, 18 Aug 2023	NOK 93.9b	NOK 32.1b	NOK 11.0b	8.9x	8.6x	2.9x
Sun, 16 Jul 2023	NOK 90.3b	NOK 30.8b	NOK 9.2b	9.9x	9.8x	2.9x

Current Industry PE

Investors are optimistic on the Norwegian Regional Banks industry, and appear confident in long term growth rates.

The industry is trading at a PE ratio of 11.4x which is higher than its 3-year average PE of 9.6x.

The 3-year average PS ratio of 3.1x is lower than the industry's current PS ratio of 3.7x.

Past Earnings Growth

The earnings for companies in the Regional Banks industry have grown 14% per year over the last three years.
Revenues for these companies have grown 11% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Norwegian Regional Banks compare with similar industries?


NO Market	3.29%
Financials	2.11%
Banks	2.15%
Regional Banks	3.43%
Diversified Banks	1.76%

Industry PEThere are no additional sub-industries under this industry.

Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
SB1NO SpareBank 1 Sør-Norge	NOK 203.50	3.0% +NOK 2.2b	6.9%	PB1.4x
MING SpareBank 1 SMN	NOK 195.44	3.0% +NOK 819.1m	-2.3%	PB1x
NONG SpareBank 1 Nord-Norge	NOK 158.40	2.9% +NOK 449.8m	2.2%	PB0.8x
MORG Sparebanken Møre	NOK 110.98	2.5% +NOK 134.9m	2.5%	PB0.6x
INSTA Instabank	NOK 4.38	7.1% +NOK 131.3m	57.6%	PB1.4x

Instabank Asa Decides To Continue As Norwegian Bank And Withdraws Banking Licence Application In Finland

Instabank ASA resolved to discontinue the process of relocating the Bank’s home state to Finland and to withdraw the banking licence application submitted to the Finnish Financial Supervisory Authority by the Bank’s wholly owned subsidiary Instafin Oy. Instabank will continue its operations as a Norwegian bank headquartered in Oslo. The decision follows the final SREP decision from the Norwegian Financial Supervisory Authority, announced on June 16, 2026, which reduced the Bank’s combined Pillar 2 Requirement and Pillar 2 Guidance by 2.0 percentage points. The decision released approximately NOK 128 million in total capital, of which approximately NOK 86 million is Common Equity Tier 1 capital, based on risk-weighted assets as of March 31, 2026. The process of relocating the Bank’s home state was initiated to secure more competitive regulatory framework conditions and a more capital-efficient platform for continued growth. When the process was initiated, the Bank’s total capital requirements in Finland were expected to be significantly lower than the requirements applicable in Norway. Following the Norwegian Financial Supervisory Authority’s decision, the remaining capital advantage of a relocation is considered limited and could no longer justify the regulatory and operational complexity, material costs and organisational consequences that a relocation would entail. The Board also notes that the latest signals from Norwegian authorities, including the Government’s Financial Markets Report for 2026, point towards more harmonised capital requirements for banks operating in Norway, which may further reduce any remaining regulatory differences over time. The Board has concluded that the Bank’s long-term value creation and strategic development are best served by continued operation as a Norwegian bank with its head office in Oslo. The released capital strengthens the Bank’s financial flexibility and supports Instabank’s growth strategy across its Nordic and European markets, without the execution risk and resource burden that a relocation would entail. As communicated in the Bank’s interim report for the First Quarter of 2026, Instabank considered both a continued Norwegian structure and a relocation to be positive outcomes for shareholders. With the reduced capital requirements now confirmed, the Board considers continued operation as a Norwegian bank to be the most value-creating path forward for shareholders, customers and employees. This information is subject to disclosure requirements under section 5-12 of the Norwegian Securities Trading Act.

Norwegian (OSEAX) Regional Banks Industry Analysis

Industry Valuation and Performance

Industry Comparison

Top Stock Gainers and Losers

Latest News

SpareBank 1 Sør-Norge ASA, Annual General Meeting, Apr 22, 2027

Instabank Asa Decides To Continue As Norwegian Bank And Withdraws Banking Licence Application In Finland

Enora Service As entered into a sale and purchase agreement to acquire 49.50% stake in Kjell Haver Regnskapsservice As from Rogaland Sparebank (OB:ROGS).

Consensus EPS estimates fall by 22%

Consensus EPS estimates fall by 32%, revenue upgraded

Consensus EPS estimates fall by 14%

Price target decreased by 26% to kr70.00

New major risk - Revenue and earnings growth

New minor risk - Profit margin trend

New minor risk - Profit margin trend

First quarter 2026 earnings: EPS exceeds analyst expectations

First quarter 2026 earnings: Revenues in line with analyst expectations

SpareBank 1 Nord-Norge (OB:NONG) Just Reported First-Quarter Earnings: Have Analysts Changed Their Mind On The Stock?

First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind

Full year 2025 earnings: EPS exceeds analyst expectations

Upcoming dividend of kr13.50 per share