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Financial highlights - Group
| Income statement | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||||||
| Q2 2021 | Q2 2020 | 30.06.2021 | 30.06.2020 | 2020 | ||||||
| NOK million | % | NOK million | % | NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 307 | 1.53 | 266 | 1.35 | 612 | 1.53 | 608 | 1.57 | 1 228 | 1.57 |
| Net commission and other operating income | 54 | 0.27 | 51 | 0.37 | 105 | 0.26 | 104 | 0.27 | 211 | 0.27 |
| Net result from financial instruments | 12 | 0.06 | 73 | 0.26 | 46 | 0.12 | 32 | 0.08 | 74 | 0.09 |
| Total income | 373 | 1.86 | 390 | 1.98 | 763 | 1.91 | 744 | 1.92 | 1 513 | 1.93 |
| Total operating costs | 160 | 0.80 | 157 | 0.80 | 318 | 0.80 | 324 | 0.84 | 630 | 0.80 |
| Profit before impairment on loans | 213 | 1.06 | 233 | 1.18 | 445 | 1.11 | 420 | 1.08 | 883 | 1.13 |
| Impairment on loans, guarantees etc. | 28 | 0.14 | 42 | 0.21 | 42 | 0.11 | 78 | 0.20 | 149 | 0.19 |
| Pre-tax profit | 185 | 0.92 | 191 | 0.97 | 403 | 1.00 | 342 | 0.88 | 734 | 0.94 |
| Tax | 42 | 0.21 | 41 | 0.21 | 90 | 0.23 | 75 | 0.19 | 167 | 0.21 |
| Profit after tax | 143 | 0.71 | 150 | 0.76 | 313 | 0.77 | 267 | 0.69 | 567 | 0.73 |
| Statement of financial position | |||||
|---|---|---|---|---|---|
| (NOK million) | 30.06.2021 | Change as of 30.06.2021 (%) | 31.12.2020 | Change over the last 12 months (%) | 30.06.2020 |
| Total assets 4) | 82 830 | 4.2 | 79 486 | 2.0 | 81 239 |
| Average assets 4) | 79 864 | 1.8 | 78 450 | 3.0 | 77 570 |
| Loans to and receivables from customers | 69 132 | 3.4 | 66 850 | 6.2 | 65 094 |
| Gross loans to retail customers | 46 919 | 2.9 | 45 592 | 4.8 | 44 765 |
| Gross loans to corporate and public entities | 22 526 | 4.6 | 21 534 | 9.2 | 20 633 |
| Deposits from customers | 41 484 | 6.3 | 39 023 | 6.2 | 39 055 |
| Deposits from retail customers | 24 905 | 6.6 | 23 366 | 5.2 | 23 675 |
| Deposits from corporate and public entities | 16 579 | 5.9 | 15 657 | 7.8 | 15 380 |
| Key figures and alternative performance measures (APMs) | |||||
|---|---|---|---|---|---|
| Q2 2021 | Q2 2020 | 30.06.2021 | 30.06.2020 | 2020 | |
| Return on equity (annualised) 3) 4) | 8.5 | 9.2 | 9.4 | 8.2 | 8.6 |
| Cost/income ratio 4) | 42.9 | 40.3 | 41.7 | 43.5 | 41.6 |
| Losses as a percentage of loans (annualised) 4) | 0.17 | 0.26 | 0.13 | 0.24 | 0.23 |
| Gross credit-impaired commitments as a percentage of loans/guarantee liabilities | 1.59 | 1.85 | 1.59 | 1.85 | 1.53 |
| Net credit-impaired commitments as a percentage of loans/guarantee liabilities | 1.25 | 1.41 | 1.25 | 1.41 | 1.22 |
| Deposit-to-loan ratio 4) | 59.7 | 59.7 | 59.7 | 59.7 | 58.1 |
| Liquidity Coverage Ratio (LCR) | 128 | 170 | 128 | 170 | 138 |
| Lending growth as a percentage 4) | 2.1 | -0.1 | 6.2 | 4.1 | 4.4 |
| Deposit growth as a percentage 4) | 2.9 | 4.3 | 6.2 | 4.6 | 6.0 |
| Capital adequacy ratio 1) | 20.6 | 21.2 | 20.6 | 21.2 | 20.8 |
| Tier 1 capital ratio 1) | 18.6 | 19.1 | 18.6 | 19.1 | 18.7 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 16.9 | 17.3 | 16.9 | 17.3 | 17.0 |
| Leverage Ratio (LR) 1) | 7.6 | 7.7 | 7.6 | 7.7 | 7.7 |
| Man-years | 343 | 360 | 343 | 360 | 346 |
| Equity Certificates (ECs) | |||||||
|---|---|---|---|---|---|---|---|
| 30.06.2021 | 30.06.2020 | 2020 | 2019 | 2018 | 2017 | ||
| Profit per EC (Group) (NOK) 2) | 15.11 | 12.62 | 27.10 | 34.50 | 29.60 | 27.70 | |
| Profit per EC (Parent Bank) (NOK) 2) | 20.92 | 19.23 | 26.83 | 32.00 | 28.35 | 27.00 | |
| 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) | 368 | 296 | 296 | 317 | 283 | 262 | |
| Stock market value (NOK million) | 3 638 | 2 927 | 2 927 | 3 134 | 2 798 | 2 590 | |
| Book value per EC (Group, incl. proposed dividends) (NOK) 4) | 342 | 319 | 332 | 320 | 303 | 289 | |
| Dividend per EC (NOK) | 4.50 | 14.00 | 4.50 | 14.00 | 15.50 | 14.00 | |
| Price/Earnings (Group, annualised) | 12.2 | 11.7 | 10.9 | 9.2 | 9.5 | 9.4 | |
| Price/Book value (P/B) (Group) 2) 4) | 1.08 | 0.93 | 0.89 | 0.99 | 0.93 | 0.91 | |
| 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. | |||||||