SPAREBANK 1 SMN SpareBank 1 SMN reported on19 January 2023 a hired replacement employee to the police for gross embezzlement of the bank's funds. Preliminary investigations show that several tens of million of kroner may be involved. No customers are affected. The police have apprehended and charged the suspect, and the bank is contributing actively to the ongoing criminal investigation. The bank became aware of the offence itself and reported the matter to the Police and to Økokrim (National Authority for Investigation and Prosecution of Economic and Environmental Crime ). "We wish to commend the Police for their rapid response, and for an excellent combined effort in the initial investigation. Some of the funds concerned are accounted for and in safekeeping, but we are allowing for the possibility that a large portion of the funds has been lost. Together with the Police and Økokrim we are now deploying substantial resources to clear up the matter", says executive director Rolf Jarle Brøske. The embezzlement does not affect our customers or the bank's operations. Although the amount involved is substantial, it does not affect the bank's financial situation. "The matter places a major strain both on staff and those involved. We have accordingly set aside resources to properly attend to the needs of all who are affected by the above event," says Mr Brøske. The bank has an overview of the course of events and is helping the Police in their further investigations. The bank will in addition conduct its own thorough enquiries into the event. "In the interest of the investigation and of security, we will make no further comments at this time", says Mr Brøske. Contact information: For press enquiries: Executive director Rolf Jarle Brøske on +47 911 12 475 / rjb@smn.no Head of Corporate CommunicationsEirin Sørensen Røkke on +47 452 58 535 / eirin.røkke@smn.no For investors and analysts: CFOTrond Søraas on +47 922 36 803 / trond.soraas@smn.no
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