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Financial highlights - Group
| Income statement | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||||||
| Q3 2021 | Q3 2020 | 30.09.2021 | 30.09.2020 | 2020 | ||||||
| NOK million | % | NOK million | % | NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 320 | 1.58 | 306 | 1.54 | 932 | 1.55 | 914 | 1.56 | 1 228 | 1.57 |
| Net commission and other operating income | 58 | 0.29 | 53 | 0.27 | 163 | 0.27 | 157 | 0.27 | 211 | 0.27 |
| Net result from financial instruments | 13 | 0.06 | 24 | 0.12 | 59 | 0.10 | 56 | 0.09 | 74 | 0.09 |
| Total income | 391 | 1.93 | 383 | 1.93 | 1 154 | 1.92 | 1 127 | 1.92 | 1 513 | 1.93 |
| Total operating costs | 160 | 0.79 | 149 | 0.75 | 478 | 0.79 | 473 | 0.80 | 630 | 0.80 |
| Profit before impairment on loans | 231 | 1.14 | 234 | 1.18 | 676 | 1.13 | 654 | 1.12 | 883 | 1.13 |
| Impairment on loans, guarantees etc. | 2 | 0.01 | 36 | 0.18 | 44 | 0.07 | 114 | 0.19 | 149 | 0.19 |
| Pre-tax profit | 229 | 1.13 | 198 | 1.00 | 632 | 1.06 | 540 | 0.93 | 734 | 0.94 |
| Tax | 53 | 0.27 | 45 | 0.22 | 143 | 0.24 | 120 | 0.20 | 167 | 0.21 |
| Profit after tax | 176 | 0.86 | 153 | 0.78 | 489 | 0.82 | 420 | 0.73 | 567 | 0.73 |
| Statement of financial position | |||||
|---|---|---|---|---|---|
| (NOK million) | 30.09.2021 | Change as of 30.09.2021 (%) | 31.12.2020 | Change over the last 12 months (%) | 30.09.2020 |
| Total assets 4) | 84 262 | 6.0 | 79 486 | 4.8 | 80 384 |
| Average assets 4) | 80 329 | 2.4 | 78 450 | 2.8 | 78 130 |
| Loans to and receivables from customers | 69 423 | 3.8 | 66 850 | 6.2 | 65 367 |
| Gross loans to retail customers | 47 068 | 3.2 | 45 592 | 4.3 | 45 136 |
| Gross loans to corporate and public entities | 22 670 | 5.3 | 21 534 | 10.3 | 20 555 |
| Deposits from customers | 40 780 | 4.5 | 39 023 | 3.7 | 39 329 |
| Deposits from retail customers | 24 515 | 4.9 | 23 366 | 5.3 | 23 273 |
| Deposits from corporate and public entities | 16 265 | 3.9 | 15 657 | 1.3 | 16 056 |
| Key figures and alternative performance measures (APMs) | |||||
|---|---|---|---|---|---|
| Q3 2021 | Q3 2020 | 30.09.2021 | 30.09.2020 | 2020 | |
| Return on equity (annualised) 3) 4) | 10.5 | 9.4 | 9.8 | 8.6 | 8.6 |
| Cost/income ratio 4) | 40.9 | 39.0 | 41.4 | 42.0 | 41.6 |
| Losses as a percentage of loans (annualised) 4) | 0.01 | 0.22 | 0.09 | 0.24 | 0.23 |
| Gross credit-impaired commitments as a percentage of loans/guarantee liabilities | 1.57 | 1.80 | 1.57 | 1.80 | 1.53 |
| Net credit-impaired commitments as a percentage of loans/guarantee liabilities | 1.22 | 1.31 | 1.22 | 1.31 | 1.22 |
| Deposit-to-loan ratio 4) | 58.5 | 59.9 | 58.5 | 59.9 | 58.1 |
| Liquidity Coverage Ratio (LCR) | 147 | 126 | 147 | 126 | 138 |
| Lending growth as a percentage 4) | 0.4 | 0.4 | 6.2 | 2.7 | 4.4 |
| Deposit growth as a percentage 4) | -1.7 | 0.7 | 3.7 | 8.8 | 6.0 |
| Capital adequacy ratio 1) | 20.8 | 21.4 | 20.8 | 21.4 | 20.8 |
| Tier 1 capital ratio 1) | 18.8 | 19.3 | 18.8 | 19.3 | 18.7 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 17.1 | 17.5 | 17.1 | 17.5 | 17.0 |
| Leverage Ratio (LR) 1) | 7.6 | 7.9 | 7.6 | 7.9 | 7.7 |
| Man-years | 361 | 353 | 361 | 353 | 346 |
| Equity Certificates (ECs) | |||||||
|---|---|---|---|---|---|---|---|
| 30.09.2021 | 30.09.2020 | 2020 | 2019 | 2018 | 2017 | ||
| Profit per EC (Group) (NOK) 2) | 23.71 | 20.00 | 27.10 | 34.50 | 29.60 | 27.70 | |
| Profit per EC (Parent Bank) (NOK) 2) | 25.99 | 22.95 | 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) | 396 | 298 | 296 | 317 | 283 | 262 | |
| Stock market value (NOK million) | 3 915 | 2 946 | 2 927 | 3 134 | 2 798 | 2 590 | |
| Book value per EC (Group, incl. proposed dividends) (NOK) 4) | 350 | 325 | 332 | 320 | 303 | 289 | |
| Dividend per EC (NOK) | 4.50 | 14.00 | 4.50 | 14.00 | 15.50 | 14.00 | |
| Price/Earnings (Group, annualised) | 12.5 | 11.1 | 10.9 | 9.2 | 9.5 | 9.4 | |
| Price/Book value (P/B) (Group) 2) 4) | 1.13 | 0.91 | 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. | |||||||