Financial highlights - Group

Income statement      
(Amounts in percentage of average assets)
 Q1 2021Q1 20202020
 NOK million%NOK million%NOK million%
Net interest income3051.513421.801 2281.57
Net commission and other operating income510.26530.292110.27
Net result from financial instruments340.16-41-0.23740.09
Total income3901.933541.861 5131.93
Total operating costs1580.781670.886300.80
Profit before impairment on loans2321.151870.988831.13
Impairment on loans, guarantees etc.140.07360.191490.19
Pre-tax profit2181.081510.797340.94
Tax480.24340.181670.21
Profit after tax1700.841170.615670.73
Statement of financial position
(NOK million)31.03.2021Change in Q1 2021 (%)31.12.2020Change over the last 12 months (%)31.03.2020
Total assets 4)81 0722.079 4862.579 070
Average assets 4)80 7642.978 4506.176 097
Loans to and receivables from customers67 7111.366 8503.965 145
Gross loans to retail customers45 9670.845 5923.644 378
Gross loans to corporate and public entities22 0332.321 5344.721 050
Deposits from customers40 3013.339 0237.737 432
Deposits from retail customers23 6771.323 3666.222 296
Deposits from corporate and public entities16 6246.215 6579.815 136
Key figures and alternative performance measures (APMs)
 Q1 2021Q1 20202020
Return on equity (annualised) 3) 4)10.47.18.6
Cost/income ratio 4)40.547.241.6
Losses as a percentage of loans (annualised) 4)0.090.220.23
Gross credit-impaired commitments as a percentage of loans/guarantees1.521.501.53
Net credit-impaired commitments as a percentage of loans/guarantees1.191.121.22
Deposit-to-loan ratio 4)59.357.558.1
Liquidity Coverage Ratio (LCR)138125138
Lending growth as a percentage 4)3.96.34.4
Deposit growth as a percentage 4)7.76.76.0
Capital adequacy ratio 1)20.620.720.8
Tier 1 capital ratio 1)18.618.618.7
Common Equity Tier 1 capital ratio (CET1) 1)16.916.917.0
Leverage Ratio (LR) 1)7.77.87.7
Man-years343354346
Equity Certificates (ECs)      
 31.03.202131.03.20202020201920182017
Profit per EC (Group) (NOK) 2)8.265.4627.1034.5029.6027.70
Profit per EC (Parent Bank) (NOK) 2)17.2014.4726.8332.0028.3527.00
EC fraction 1.1 as a percentage (Parent Bank)49.649.649.649.649.649.6
EC capital (NOK million)988.70988.70988.70988.70988.70988.70
Price at Oslo Stock Exchange (NOK)328257296317283262
Stock market value (NOK million)3 2432 5402 9273 1342 7982 590
Book value per EC (Group) (NOK) 4)335325332320303289
Dividend per EC (NOK)0.000.004.5014.0015.5014.00
Price/Earnings (Group, annualised)9.911.810.99.29.59.4
Price/Book value (P/B) (Group) 2) 4)0.980.790.890.990.930.91
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.