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Financial highlights Group
| Income statement | ||||||||
|---|---|---|---|---|---|---|---|---|
| Q4 2018 | Q4 2017 | 2018 | 2017 | |||||
| NOK million | % | NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 309 | 1.76 | 290 | 1.76 | 1 179 | 1.70 | 1 100 | 1.72 |
| Net commission and other operating income | 52 | 0.29 | 51 | 0.31 | 207 | 0.30 | 194 | 0.30 |
| Net return from financial investments | 4 | 0.03 | 7 | 0.04 | 41 | 0.06 | 48 | 0.08 |
| Total income | 365 | 2.08 | 348 | 2.11 | 1 427 | 2.06 | 1 342 | 2.10 |
| Total operating costs | 152 | 0.86 | 144 | 0.88 | 603 | 0.87 | 590 | 0.92 |
| Profit before impairment on loans | 213 | 1.22 | 204 | 1.23 | 824 | 1.19 | 752 | 1.18 |
| Impairment on loans, guarantees etc. | 12 | 0.07 | -1 | -0.01 | 16 | 0.02 | 13 | 0.02 |
| Pre-tax profit | 201 | 1.15 | 205 | 1.24 | 808 | 1.17 | 739 | 1.16 |
| Tax | 60 | 0.34 | 48 | 0.29 | 203 | 0.29 | 182 | 0.28 |
| Profit after tax | 141 | 0.81 | 157 | 0.95 | 605 | 0.88 | 557 | 0.88 |
| Statement of financial position | |||
|---|---|---|---|
| (NOK million) | 31.12.2018 | % change during last 12 months | 31.12.2017 |
| Total assets | 71 074 | 6.9 | 66 491 |
| Average assets | 69 373 | 8.4 | 64 000 |
| Loans to and receivables from customers | 60 346 | 6.1 | 56 867 |
| Gross loans to retail customers | 41 917 | 5.3 | 39 817 |
| Gross loans to corporate and public entities | 18 616 | 8.4 | 17 168 |
| Deposits from customers | 34 414 | 4.9 | 32 803 |
| Deposits from retail customers | 20 624 | 4.8 | 19 688 |
| Deposits from corporate and public entities | 13 790 | 5.3 | 13 101 |
| Key figures | ||||
|---|---|---|---|---|
| Q4 2018 | Q4 2017 | 2018 | 2017 | |
| Return on equity (annualised) 4) | 9.7 | 11.5 | 10.6 | 10.4 |
| Cost income ratio | 41.6 | 41.7 | 42.3 | 44.0 |
| Losses as a percentage of loans (annualised) | 0.08 | -0.01 | 0.03 | 0.02 |
| Gross problem loans as a percentage of loans | 0.62 | 0.57 | 0.62 | 0.57 |
| Net problem loans as a percentage of loans | 0.46 | 0.40 | 0.46 | 0.40 |
| Deposit-to-loan ratio | 57.0 | 57.7 | 57.0 | 57.7 |
| Liquidity Coverage Ratio (LCR) | 158 | 159 | 158 | 159 |
| Lending growth as a percentage | 1.2 | 0.7 | 6.1 | 7.9 |
| Deposit growth as a percentage | -0.8 | -0.8 | 4.9 | 0.7 |
| Capital adequacy ratio 1) 2) | 19.6 | 18.4 | 19.6 | 18.4 |
| Tier 1 capital ratio 1) 2) | 17.6 | 16.8 | 17.6 | 16.8 |
| Common Equity Tier 1 capital ratio (CET1) 1) 2) | 16.0 | 15.0 | 16.0 | 15.0 |
| Leverage Ratio (LR) 2) | 8.1 | 8.2 | 8.1 | 8.2 |
| Man-years | 361 | 359 | 361 | 359 |
| Equity Certificates (ECs) | |||||
|---|---|---|---|---|---|
| 2018 | 2017 | 2016 | 2015 | 2014 | |
| Profit per EC (Group) (NOK) 3) | 29.80 | 27.70 | 28.80 | 25.25 | 31.20 |
| Profit per EC (Parent Bank) (NOK) 3) | 28.35 | 27.00 | 29.85 | 25.70 | 29.10 |
| EC fraction 1.1 as a percentage (Parent Bank) | 49.6 | 49.6 | 49.6 | 49.6 | 49.6 |
| EC capital (NOK million) | 988.70 | 988.70 | 988.70 | 988.70 | 988.70 |
| Price at Oslo Stock Exchange (NOK) | 283 | 262 | 254 | 188 | 216 |
| Stock market value (NOK million) | 2 798 | 2 590 | 2 511 | 1 859 | 2 136 |
| Book value per EC (Group, incl. dividend) (NOK) | 303 | 289 | 275 | 257 | 244 |
| Dividend per EC (NOK) | 15.50 | 14.00 | 14.00 | 11.50 | 13.50 |
| Price/Earnings (Group, annualised) | 9.5 | 9.4 | 8.8 | 7.3 | 7.4 |
| Price/Book value (P/B) (Group) 3) | 0.93 | 0.91 | 0.93 | 0.73 | 0.89 |
| 1) Calculated according to IRB in Basel II incl. transitional rule in Basel I. IRB for mass market from 31st March 2015 and IRB Foundation for corporate commitments from 30th June 2014. | |||||
| 2) Incl. proposed allocations | |||||
| 3) Calculated using the EC-holders' share (49.6 %) of the period's profit to be allocated to equity owners. | |||||
| 4) Calculated using the share of the profit to be allocated to equity owners. | |||||