May 23, 2024 05:34 GMT
SRBANK CEO Resigned, Unhelpful But Unlikely A Credit Even
FINANCIALS
Sparebanken 1 SR-Bank (SRBANK: A3) CEO unexpectedly resigning but to go be the CEO of Telenor. Been in post since Jan-21, hunt for replacement has started, due to arrive at Telenor on 1-Dec-24.
- SRBANK announced a merger with local peer savings bank, Sparebanken 1 Sørøst-Norge, in Oct-23, due to complete by Oct-24, so the timing is a little unhelpful. Aside from the cross-industry nature of this move, it is little more than unhelpful and appears unlikely to be a credit event, in our view.
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