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Financial highlights - Group
| Income statement | ||||||
|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||
| Q1 2022 | Q1 2021 | 2021 | ||||
| NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 334 | 1.62 | 304 | 1.53 | 1 266 | 1.56 |
| Net commission and other operating income | 55 | 0.27 | 49 | 0.25 | 218 | 0.27 |
| Net result from financial instruments | -2 | -0.01 | 34 | 0.17 | 43 | 0.05 |
| Total income | 387 | 1.88 | 387 | 1.95 | 1 527 | 1.88 |
| Total operating costs | 178 | 0.86 | 155 | 0.78 | 645 | 0.80 |
| Profit before impairment on loans | 209 | 1.02 | 232 | 1.17 | 882 | 1.08 |
| Impairment on loans, guarantees etc. | 0 | 0.00 | 14 | 0.07 | 49 | 0.06 |
| Pre-tax profit | 209 | 1.02 | 218 | 1.10 | 833 | 1.02 |
| Tax | 46 | 0.22 | 48 | 0.24 | 191 | 0.24 |
| Profit after tax | 163 | 0.80 | 170 | 0.86 | 642 | 0.78 |
| Statement of financial position | |||||
|---|---|---|---|---|---|
| (NOK million) | 31.03.2022 | Change in Q1 2022 (%) | 31.12.2021 | Change over the last 12 months (%) | 31.03.2021 |
| Total assets 4) | 83 805 | 1.2 | 82 797 | 3.4 | 81 072 |
| Average assets 4) | 82 373 | 1.8 | 80 942 | 3.7 | 79 411 |
| Loans to and receivables from customers | 70 380 | 0.7 | 69 925 | 3.9 | 67 711 |
| Gross loans to retail customers | 47 836 | 0.6 | 47 557 | 4.1 | 45 967 |
| Gross loans to corporate and public entities | 22 869 | 0.8 | 22 697 | 3.8 | 22 033 |
| Deposits from customers | 43 501 | 3.9 | 41 853 | 7.9 | 40 301 |
| Deposits from retail customers | 25 361 | 2.8 | 24 667 | 7.1 | 23 677 |
| Deposits from corporate and public entities | 18 140 | 5.6 | 17 186 | 9.1 | 16 624 |
| Key figures and alternative performance measures (APMs) | |||
|---|---|---|---|
| Q1 2022 | Q1 2021 | 2021 | |
| Return on equity (annualised) 3) 4) | 9.3 | 10.2 | 9.5 |
| Cost/income ratio 4) | 46.0 | 39.9 | 42.2 |
| Losses as a percentage of loans (annualised) 4) | 0.00 | 0.08 | 0.07 |
| Gross credit-impaired commitments as a percentage of loans/guarantee liabilities | 1.41 | 1.52 | 1.52 |
| Net credit-impaired commitments as a percentage of loans/guarantee liabilities | 1.07 | 1.19 | 1.16 |
| Deposit-to-loan ratio 4) | 61.5 | 59.3 | 59.6 |
| Liquidity Coverage Ratio (LCR) | 143 | 138 | 122 |
| Lending growth as a percentage 4) | 3.9 | 3.9 | 4.6 |
| Deposit growth as a percentage 4) | 7.9 | 7.7 | 7.3 |
| Capital adequacy ratio 1) | 20.8 | 20.6 | 20.9 |
| Tier 1 capital ratio 1) | 18.8 | 18.6 | 18.9 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 17.2 | 16.9 | 17.2 |
| Leverage Ratio (LR) 1) | 7.7 | 7.7 | 7.7 |
| Man-years | 370 | 343 | 364 |
| Equity Certificates (ECs) | |||||||
|---|---|---|---|---|---|---|---|
| 31.03.2022 | 31.03.2021 | 2021 | 2020 | 2019 | 2018 | ||
| Profit per EC (Group) (NOK) 2) | 7.85 | 8.26 | 31.10 | 27.10 | 34.50 | 29.60 | |
| Profit per EC (Parent bank) (NOK) 2) | 17.34 | 17.20 | 30.98 | 26.83 | 32.00 | 28.35 | |
| EC fraction 1.1 as a percentage (Parent bank) | 49.7 | 49.6 | 49.7 | 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) | 441 | 328 | 444 | 296 | 317 | 283 | |
| Stock market value (NOK million) | 4 360 | 3 243 | 4 390 | 2 927 | 3 134 | 2 798 | |
| Book value per EC (Group, incl. proposed dividends) (NOK) 4) | 343 | 335 | 350 | 332 | 320 | 303 | |
| Dividend per EC (NOK) | 0.00 | 0.00 | 16.00 | 13.50 | 14.00 | 15.50 | |
| Price/Earnings (Group, annualised) | 14.0 | 9.9 | 14.3 | 10.9 | 9.2 | 9.6 | |
| Price/Book value (P/B) (Group) 2) 4) | 1.29 | 0.98 | 1.27 | 0.89 | 0.99 | 0.93 | |
| 1) Incl. 50 % of the comprehensive income after tax | |||||||
| 2) Calculated using the EC-holders' share (49.7 %) 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. | |||||||