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Financial highlights - Group
| Income statement | ||||||||
|---|---|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||||
| Q4 2021 | Q4 2020 | 2021 | 2020 | |||||
| NOK million | % | NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 335 | 1.62 | 314 | 1.59 | 1 266 | 1.56 | 1 227 | 1.57 |
| Net commission and other operating income | 61 | 0.30 | 53 | 0.27 | 218 | 0.27 | 206 | 0.27 |
| Net result from financial instruments | -16 | -0.08 | 18 | 0.09 | 43 | 0.05 | 74 | 0.09 |
| Total income | 380 | 1.84 | 385 | 1.95 | 1 527 | 1.88 | 1 507 | 1.93 |
| Total operating costs | 174 | 0.84 | 156 | 0.78 | 645 | 0.80 | 624 | 0.80 |
| Profit before impairment on loans | 206 | 1.00 | 229 | 1.17 | 882 | 1.08 | 883 | 1.13 |
| Impairment on loans, guarantees etc. | 5 | 0.03 | 35 | 0.18 | 49 | 0.06 | 149 | 0.19 |
| Pre-tax profit | 201 | 0.97 | 194 | 0.99 | 833 | 1.02 | 734 | 0.94 |
| Tax | 48 | 0.23 | 47 | 0.24 | 191 | 0.24 | 167 | 0.21 |
| Profit after tax | 153 | 0.74 | 147 | 0.75 | 642 | 0.78 | 567 | 0.73 |
| Statement of financial position | |||
|---|---|---|---|
| (NOK million) | 31.12.2021 | Change over the last 12 months (%) | 31.12.2020 |
| Total assets 4) | 82 797 | 4.2 | 79 486 |
| Average assets 4) | 80 942 | 3.2 | 78 450 |
| Loans to and receivables from customers | 69 925 | 4.6 | 66 850 |
| Gross loans to retail customers | 47 557 | 4.3 | 45 592 |
| Gross loans to corporate and public entities | 22 697 | 5.4 | 21 534 |
| Deposits from customers | 41 853 | 7.3 | 39 023 |
| Deposits from retail customers | 24 667 | 5.6 | 23 366 |
| Deposits from corporate and public entities | 17 186 | 9.8 | 15 657 |
| Key figures and alternative performance measures (APMs) | ||||
|---|---|---|---|---|
| Q4 2021 | Q4 2020 | 2021 | 2020 | |
| Return on equity (annualised) 3) 4) | 9.0 | 9.1 | 9.5 | 8.6 |
| Cost/income ratio 4) | 45.7 | 40.2 | 42.2 | 41.4 |
| Losses as a percentage of loans (annualised) 4) | 0.03 | 0.21 | 0.07 | 0.23 |
| Gross credit-impaired commitments as a percentage of loans/guarantee liabilities | 1.52 | 1.53 | 1.52 | 1.53 |
| Net credit-impaired commitments as a percentage of loans/guarantee liabilities | 1.16 | 1.22 | 1.16 | 1.22 |
| Deposit-to-loan ratio 4) | 59.6 | 58.1 | 59.6 | 58.1 |
| Liquidity Coverage Ratio (LCR) | 122 | 138 | 122 | 138 |
| Lending growth as a percentage 4) | 0.7 | 2.3 | 4.6 | 4.4 |
| Deposit growth as a percentage 4) | 2.6 | -0.8 | 7.3 | 6.0 |
| Capital adequacy ratio 1) | 20.9 | 20.8 | 20.9 | 20.8 |
| Tier 1 capital ratio 1) | 18.9 | 18.7 | 18.9 | 18.7 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 17.2 | 17.0 | 17.2 | 17.0 |
| Leverage Ratio (LR) 1) | 7.7 | 7.7 | 7.7 | 7.7 |
| Man-years | 364 | 346 | 364 | 346 |
| Equity Certificates (ECs) | ||||||
|---|---|---|---|---|---|---|
| 2021 | 2020 | 2019 | 2018 | 2017 | ||
| Profit per EC (Group) (NOK) 2) | 31.10 | 27.10 | 34.50 | 29.60 | 27.70 | |
| Profit per EC (Parent Bank) (NOK) 2) | 30.98 | 26.83 | 32.00 | 28.35 | 27.00 | |
| EC fraction 1.1 as a percentage (Parent Bank) | 49.7 | 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) | 444 | 296 | 317 | 283 | 262 | |
| Stock market value (NOK million) | 4 390 | 2 927 | 3 134 | 2 798 | 2 590 | |
| Book value per EC (Group, incl. proposed dividends) (NOK) 4) | 350 | 332 | 320 | 303 | 289 | |
| Dividend per EC (NOK) | 16.00 | 13.50 | 14.00 | 15.50 | 14.00 | |
| Price/Earnings (Group, annualised) | 14.3 | 10.9 | 9.2 | 9.6 | 9.5 | |
| Price/Book value (P/B) (Group) 2) 4) | 1.27 | 0.89 | 0.99 | 0.93 | 0.91 | |
| 1) Including proposed allocations | ||||||
| 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. | ||||||