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Financial highlights - Group
| Income statement | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||||||
| Q3 2022 | Q3 2021 | 30.09.2022 | 30.09.2021 | 2021 | ||||||
| NOK million | % | NOK million | % | NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 398 | 1.87 | 320 | 1.58 | 1 085 | 1.72 | 931 | 1.54 | 1 266 | 1.56 |
| Net commission and other operating income | 65 | 0.30 | 56 | 0.29 | 179 | 0.28 | 157 | 0.26 | 218 | 0.27 |
| Net result from financial instruments | -30 | -0.14 | 13 | 0.06 | -42 | -0.07 | 59 | 0.10 | 43 | 0.05 |
| Total income | 433 | 2.03 | 389 | 1.93 | 1 222 | 1.93 | 1 147 | 1.90 | 1 527 | 1.88 |
| Total operating costs | 179 | 0.84 | 158 | 0.79 | 531 | 0.84 | 471 | 0.78 | 645 | 0.80 |
| Profit before impairment on loans | 254 | 1.19 | 231 | 1.14 | 691 | 1.09 | 676 | 1.12 | 882 | 1.08 |
| Impairment on loans, guarantees etc. | 2 | 0.01 | 2 | 0.01 | -6 | -0.01 | 44 | 0.07 | 49 | 0.06 |
| Pre-tax profit | 252 | 1.18 | 229 | 1.13 | 697 | 1.10 | 632 | 1.05 | 833 | 1.02 |
| Tax | 63 | 0.29 | 53 | 0.27 | 162 | 0.25 | 143 | 0.24 | 191 | 0.24 |
| Profit after tax | 189 | 0.89 | 176 | 0.86 | 535 | 0.85 | 489 | 0.81 | 642 | 0.78 |
| Statement of financial position | |||||
|---|---|---|---|---|---|
| (NOK million) | 30.09.2022 | YTD-change in per cent | 31.12.2021 | Change in per cent over the last 12 months | 30.09.2021 |
| Total assets 4) | 87 634 | 5.8 | 82 797 | 4.0 | 84 262 |
| Average assets 4) | 84 278 | 4.1 | 80 942 | 4.9 | 80 329 |
| Loans to and receivables from customers | 73 689 | 5.4 | 69 925 | 6.1 | 69 423 |
| Gross loans to retail customers | 49 799 | 4.7 | 47 557 | 5.8 | 47 068 |
| Gross loans to corporate and public entities | 24 209 | 6.7 | 22 697 | 6.8 | 22 670 |
| Deposits from customers | 44 686 | 6.8 | 41 853 | 9.6 | 40 780 |
| Deposits from retail customers | 26 051 | 5.6 | 24 667 | 6.3 | 24 515 |
| Deposits from corporate and public entities | 18 635 | 8.4 | 17 186 | 14.6 | 16 265 |
| Key figures and alternative performance measures (APMs) | |||||
|---|---|---|---|---|---|
| Q3 2022 | Q3 2021 | 30.09.2022 | 30.09.2021 | 2021 | |
| Return on equity (annualised) 3) 4) | 10.5 | 10.5 | 10.1 | 9.7 | 9.5 |
| Cost/income ratio 4) | 41.4 | 40.4 | 43.5 | 41.0 | 42.2 |
| Losses as a percentage of loans and guarantees (annualised) 4) | 0.01 | 0.01 | -0.01 | 0.09 | 0.07 |
| Gross credit-impaired commitments as a percentage of loans/guarantee liabilities | 1.03 | 1.57 | 1.03 | 1.57 | 1.52 |
| Net credit-impaired commitments as a percentage of loans/guarantee liabilities | 0.73 | 1.22 | 0.73 | 1.22 | 1.16 |
| Deposit-to-loan ratio 4) | 60.4 | 58.5 | 60.4 | 58.5 | 59.6 |
| Liquidity Coverage Ratio (LCR) | 152 | 147 | 152 | 147 | 122 |
| NSFR (Net Stable Funding Ratio) | 125 | 109 | 125 | 109 | 111 |
| Lending growth as a percentage 4) | 1.9 | 0.4 | 6.1 | 6.2 | 4.6 |
| Deposit growth as a percentage 4) | -0.6 | -1.7 | 9.6 | 3.7 | 7.3 |
| Capital adequacy ratio 1) | 22.5 | 20.8 | 22.5 | 20.8 | 20.9 |
| Tier 1 capital ratio 1) | 20.1 | 18.8 | 20.1 | 18.8 | 18.9 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 18.2 | 17.1 | 18.2 | 17.1 | 17.2 |
| Leverage Ratio (LR) 1) | 7.6 | 7.6 | 7.6 | 7.6 | 7.7 |
| Man-years | 380 | 361 | 380 | 361 | 364 |
| Equity Certificates (ECs) | |||||||
|---|---|---|---|---|---|---|---|
| 30.09.2022 | 30.09.2021 | 2021 | 2020 | 2019 | 2018 | ||
| Profit per EC (Group) (NOK) 2) | 5.17 | 23.71 | 31.10 | 27.10 | 34.50 | 29.60 | |
| Profit per EC (parent bank) (NOK) 2) | 6.31 | 25.99 | 30.98 | 26.83 | 32.00 | 28.35 | |
| Number of EC | 49 434 770 | 9 886 954 | 9 886 954 | 9 886 954 | 9 886 954 | 9 886 954 | |
| Nominal value pr EC (NOK) | 20.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |
| 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) | 70.00 | 396 | 444 | 296 | 317 | 283 | |
| Stock market value (NOK million) | 3 460 | 3 915 | 4 390 | 2 927 | 3 134 | 2 798 | |
| Book value per EC (Group) (NOK) 4) | 72 | 350 | 350 | 332 | 320 | 303 | |
| Dividend per EC (NOK) 5) | 16.00 | 4.50 | 16.00 | 13.50 | 14.00 | 15.50 | |
| Price/Earnings (Group, annualised) | 10.2 | 12.5 | 14.3 | 10.9 | 9.2 | 9.6 | |
| Price/Book value (P/B) (Group) 2) 4) | 0.97 | 1.13 | 1.27 | 0.89 | 0.99 | 0.93 | |
| 1) Incl. 50 % of the comprehensive income | |||||||
| 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 | |||||||
| 5) Our EC(MORG) was split 1:5 in April 2022. The restated dividend per EC is thus NOK 3.20 | |||||||