SpareBank 1 BV and Sparebanken Telemark merged and company changed its name to SpareBank 1 Sørøst-Norge. It is part of the SpareBank 1 alliance of 13 independent saving banks. The bank caters to retail and corporate customers and is present with 17 offices in the bank's market area. Through the SpareBank 1 alliance and its own subsidiaries, SpareBank 1 Sørøst-Norge secures access to competitive products within financing, savings, insurance and payment. The bank has an agreement with SpareBank 1 Boligkreditt on the mediation of loan applications. This is a wholly owned company by the banks in the SpareBank 1 alliance, which issues both covered bonds (OMF) and senior debt.