History

2025

In 2025, two new banks become shareholders of Eika Boligkreditt (EBK). These are Haugesund Sparebank and Skudenes & Aakra Sparebank.
An agreement was entered into to buy back the portfolios of Sparebank 1 Østlandet (NOK 2.7 billion) and Oslofjord Sparebank (NOK 320 million).
The Eika banks achieve record-high net growth in lending via Eika Boligkreditt, up 15.6 per cent.
High lending growth contributes to the company raising NOK 29 billion in new financing, which is an all-time high.
Mergers and acquisitions result in the number of shareholder banks totalling 50 at the close of the year.

The company’s lending portfolio exceeds NOK 100 billion.
Skudenes & Aakra Sparebank decides to join the Eika Alliansen, thereby becoming the second DSS bank to join the Eika Alliance in just over a year.
Eika Kredittbank is renamed Eika Digitalbank and launches a new, fully digital banking concept called Penni. At the same time, it becomes a shareholder and gains access to financing via Eika Boligkreditt.

All Eika banks complete their transfer to the new core banking solution from Tietoevry.
Haugesund Sparebank (the largest bank in the DSS alliance) decides to join the Eika Alliance and merge with Tysnes Sparebank.
EBK’s issuer rating is raised from Baa1 to A3.
An agreement is reached to sell back OBOS Bank’s portfolio, which was worth NOK 931 million at the end of August 2023.

The first banks have their residential mortgage portfolios in Eika Boligkreditt transferred during September from Banqsoft to the new core banking system supplied by Tietoevry.
Eika Boligkreditt initiates a broadly entrenched project to comply with the internal ratings-based (IRB) standard for its credit framework and models, with the goal of being able to seek IRB approval of its residential mortgage portfolio.
Odd-Arne Pedersen takes over in December as the company’s new CEO after acting in this role since June.

Run-off agreements are reached with the members of the Local Bank Alliance. They can no longer transfer loans to EBK, and will enter a run-off phase.
Agreement is reached on selling back the NOK 1.2 billion portfolio to Spb 1 Nordmøre.
The loan transfer model is significantly updated, and the banks transfer close to NOK 1.5 billion.
EBK issues its first bond within the green bond framework.

Norway experiences the full impact of the coronavirus in March, and home working becomes widespread.
Eika Gruppen cancels its core banking agreement with SDC and enters into an agreement for a new IT platform from TietoEvry.
The bond committee at EBK approved a new green bond framework.
EBK also launches green residential mortgages, and the first loans in this category were made in December.

With effect from 10 December, EBK increases its maximum LTV ratio for residential mortgages from 60 per cent to the legal limit of 75 per cent.
With effect from 1 July, the required return on equity in EBK is changed from three months Nibor plus two percentage points to zero. Commissions to the owner banks are increased correspondingly.
EBK adopts Power BI as a visualisation and reporting tool to provide the owner banks with better Insight into the financing they have received from the company.

The banks begin to issue mortgages directly via their own credit portal.
Conducted a syndicated benchmark covered bond transaction for NOK 5 billion.
Eika Boligkreditt increased its holding in Eiendomsverdi AS from 18.79 to 25 per cent.
Total bank financing through Eika Boligkreditt exceeds NOK 80 billion.

Eika Boligkreditt exceeds NOK 100 billion in total assets.
Rating of the Company's covered bonds is upgraded from Aa1 to Aaa.
The Company recieves its first published issues rating (Baa1).
Eight owner banks merge to become four. The number of banks is correspondingly reduced.

Eika Boligkreditt is integrated in the banks' credit portal at the end of October.
Total bank financing through Eika Boligkreditt exceeds NOK 70 billion.
An agreement is entered into with the owner banks on the delivery of key data related to the company's rating from Moody's Investors Service.

Eika Boligkreditt introduces individual lending rates for the owner banks.
New and improved agreement on credit guarantees comes into force on 1 October.
The company’s covered bonds have their rating further strengthened by a notch in leeway.
Four owner banks merge into two, and the number of owner banks is correspondingly reduced.

Eika Boligkreditt is demerged from Eika Gruppen and becomes directly owned by the local banks and OBOS.
A tighter structure of agreements is established between the new owners and the company.
Total assets exceed NOK 50 billion during June.
The company issues its first “jumbo” (EUR 1 billion) bond in the euro market.