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Financial highlights - Group
| Income statement | ||||||
|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||
| Q1 2020 | Q1 2019 | 2019 | ||||
| NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 342 | 1.80 | 304 | 1.69 | 1 314 | 1.79 |
| Net commission and other operating income | 53 | 0.29 | 49 | 0.27 | 219 | 0.30 |
| Net return on financial investments | -41 | -0.23 | 28 | 0.16 | 74 | 0.10 |
| Total income | 354 | 1.86 | 381 | 2.12 | 1 607 | 2.19 |
| Total operating costs | 167 | 0.88 | 157 | 0.87 | 646 | 0.88 |
| Profit before impairment on loans | 187 | 0.98 | 224 | 1.25 | 961 | 1.31 |
| Impairment on loans, guarantees etc. | 36 | 0.19 | 13 | 0.07 | 50 | 0.07 |
| Pre-tax profit | 151 | 0.79 | 211 | 1.18 | 911 | 1.24 |
| Tax | 34 | 0.18 | 49 | 0.26 | 200 | 0.27 |
| Profit after tax | 117 | 0.61 | 162 | 0.92 | 711 | 0.97 |
| Statement of financial position | |||||
|---|---|---|---|---|---|
| (NOK million) | 31.03.2020 | % change Q1-2020 | 31.12.2019 | % change YTD 2019 | 31.03.2019 |
| Total assets 4) | 79 070 | 5.6 | 74 875 | 11.2 | 71 135 |
| Average assets 4) | 76 097 | 3.5 | 73 496 | 6.0 | 71 797 |
| Loans to and receivables from customers | 65 145 | 1.7 | 64 029 | 6.3 | 61 270 |
| Gross loans to retail customers | 44 242 | 1.0 | 43 815 | 4.3 | 42 424 |
| Gross loans to corporate and public entities | 21 050 | 3.0 | 20 441 | 10.4 | 19 064 |
| Deposits from customers | 37 432 | 1.7 | 36 803 | 6.7 | 35 066 |
| Deposits from retail customers | 22 296 | 2.8 | 21 685 | 6.9 | 20 852 |
| Deposits from corporate and public entities | 15 136 | 0.1 | 15 118 | 6.5 | 14 214 |
| Key figures and alternative performance measures (APMs) | |||
|---|---|---|---|
| Q1 2020 | Q1 2019 | 2019 | |
| Return on equity (annualised) 3) 4) | 7.1 | 11.0 | 11.7 |
| Cost income ratio 4) | 47.2 | 41.2 | 40.2 |
| Losses as a percentage of loans (annualised) 4) | 0.22 | 0.09 | 0.08 |
| Gross credit-impaired commitments as a percentage of loans/guarantees | 1.50 | 1.55 | 1.48 |
| Net credit-impaired commitments as a percentage of loans/guarantees | 1.12 | 1.14 | 1.12 |
| Deposit-to-loan ratio 4) | 57.5 | 57.2 | 57.5 |
| Liquidity Coverage Ratio (LCR) | 125 | 125 | 165 |
| Lending growth as a percentage 4) | 6.3 | 5.2 | 6.1 |
| Deposit growth as a percentage 4) | 6.7 | 4.6 | 6.9 |
| Capital adequacy ratio 1) | 20.7 | 19.4 | 21.7 |
| Tier 1 capital ratio 1) | 18.6 | 17.3 | 19.5 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 16.9 | 15.9 | 17.7 |
| Leverage Ratio (LR) 1) | 7.8 | 8.1 | 8.1 |
| Man-years | 354 | 356 | 357 |
| Equity Certificates (ECs) | |||||||
|---|---|---|---|---|---|---|---|
| 31.03.2020 | 31.03.2019 | 2019 | 2018 | 2017 | 2016 | ||
| Profit per EC (Group) (NOK) 2) | 5.46 | 7.95 | 34.50 | 29.60 | 27.70 | 28.80 | |
| Profit per EC (Parent Bank) (NOK) 2) | 14.47 | 14.13 | 32.00 | 28.35 | 27.00 | 29.85 | |
| EC fraction 1.1 as a percentage (Parent Bank) | 49.6 | 49.6 | 49.6 | 49.6 | 49.6 | 49.6 | |
| EC capital (NOK million) | 988.70 | 988.70 | 988.70 | 988.70 | 988.70 | 988.70 | |
| Price at Oslo Stock Exchange (NOK) | 257 | 299 | 317 | 283 | 262 | 254 | |
| Stock market value (NOK million) | 2 540 | 2 956 | 3 134 | 2 798 | 2 590 | 2 511 | |
| Book value per EC (Group) (NOK) 4) | 325 | 296 | 320 | 303 | 289 | 275 | |
| Dividend per EC (NOK) | 0.00 | 0.00 | 14.00 | 15.50 | 14.00 | 14.00 | |
| Price/Earnings (Group, annualised) | 11.8 | 9.4 | 9.2 | 9.5 | 9.4 | 8.8 | |
| Price/Book value (P/B) (Group) 2) 4) | 0.79 | 1.01 | 0.99 | 0.93 | 0.91 | 0.93 | |
| 1) Incl. 50 % of the profit after tax | |||||||
| 2) Calculated using the EC-holders' share (49.6 %) of the period's profit to be allocated to equity owners. | |||||||
| 3) Calculated using the share of the profit to be allocated to equity owners. | |||||||
| 4) Defined as alternative performance measure (APM), see attachment to the quarterly report. | |||||||