Financial highlights - Group

Income statement          
(Amounts in percentage of average assets)
 Q3 2020Q3 201930.09.202030.09.20192019
 NOK million%NOK million%NOK million%NOK million%NOK million%
Net interest income3061.543511.919141.569751.781 3141.79
Net commission and other operating income530.27550.301570.271590.302190.30
Net return on financial investments240.1280.04560.09590.10740.10
Total income3831.934142.251 1271.921 1932.181 6072.19
Total operating costs1490.751610.874730.804780.876460.88
Profit before impairment on loans2341.182531.386541.127151.319611.31
Impairment on loans, guarantees etc.360.18160.091140.19350.06500.07
Pre-tax profit1981.002371.295400.936801.259111.24
Tax450.22560.311200.201560.292000.27
Profit after tax1530.781810.984200.735240.967110.97
Statement of financial position
(NOK million)30.09.2020% change YTD 202031.12.2019% change during the last 12 months30.09.2019
Total assets 4)80 3847.474 8759.973 144
Average assets 4)78 1306.373 4967.372 815
Loans to and receivables from customers65 3672.164 0292.763 647
Gross loans to retail customers45 1362.943 8473.443 666
Gross loans to corporate and public entities20 5550.620 4411.620 234
Deposits from customers39 3296.936 8038.836 147
Deposits from retail customers23 2737.321 6857.621 631
Deposits from corporate and public entities16 0566.215 11810.614 516
Key figures and alternative performance measures (APMs)
 Q3 2020Q3 201930.09.202030.09.20192019
Return on equity (annualised) 3) 4)9.411.88.611.611.7
Cost income ratio 4)39.039.042.040.140.2
Losses as a percentage of loans (annualised) 4)0.220.100.240.080.08
Gross credit-impaired commitments as a percentage of loans/guarantees1.801.431.801.431.48
Net credit-impaired commitments as a percentage of loans/guarantees1.311.071.311.071.12
Deposit-to-loan ratio 4)60.256.860.256.857.5
Liquidity Coverage Ratio (LCR)126125126125165
Lending growth as a percentage 4)0.47.22.76.76.1
Deposit growth as a percentage 4)0.7-3.18.84.26.9
Capital adequacy ratio 1)21.419.021.419.021.7
Tier 1 capital ratio 1)19.317.019.317.019.5
Common Equity Tier 1 capital ratio (CET1) 1)17.515.417.515.417.7
Leverage Ratio (LR) 1)7.98.07.98.08.1
Man-years353354353354357
Equity Certificates (ECs)      
 30.09.202030.09.20192019201820172016
Profit per EC (Group) (NOK) 2)20.0025.6034.5029.6027.7028.80
Profit per EC (Parent Bank) (NOK) 2)22.9525.9032.0028.3527.0029.85
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)298309317283262254
Stock market value (NOK million)2 9463 0553 1342 7982 5902 511
Book value per EC (Group) (NOK) 4)325313320303289275
Dividend per EC (NOK)14.0015.5014.0015.5014.0014.00
Price/Earnings (Group, annualised)11.19.19.29.59.48.8
Price/Book value (P/B) (Group) 2) 4)0.910.990.990.930.910.93
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