Financial highlights - Group

Income statement      
 Q1 2018Q1 20172017
 NOK million%NOK million%NOK million%
Net interest income2891.732611.691 1001.72
Net commission and other operating income470.28420.271940.30
Net return from financial investments60.04240.16480.08
Total income3422.053272.121 3422.10
Total operating costs1490.891500.975900.92
Profit before impairment on loans1931.161771.157521.18
Impairment on loans, guarantees etc.20.0120.01130.02
Pre tax profit1911.151751.147391.16
Profit after tax1410.861310.865570.88
Statement of financial position     
NOK million31.03.2018% change in Q1 201831.12.2017% change during last 12 months31.03.2017
Total assets68 6073.266 4918.763 124
Average assets66 8664.564 0008.361 719
Loans to and receivables from customers58 1942.356 8679.653 993
Gross loans to retail customers40 2241.039 8176.337 850
Gross loans to corporate and public entities18 2296.217 16811.816 311
Deposits from customers33 5392.232 8032.732 656
Deposits from retail customers19 9281.219 6885.318 923
Deposits from corporate and public entities13 6113.913 101-0.413 668
Key figures   
 Q1 2018Q1 20172017
Return on equity (annualized) 4)
Costs as a percentage of income43.645.944.0
Losses as a percentage of loans 1.1/start of the period0.010.010.02
Problem loans as a percentage of loans (prior to impairment)0.580.310.57
Problem loans as a percentage of loans (after impairment)0.400.220.40
Deposits to lending ratio as a percentage57.660.557.7
Liquidity Coverage Ratio (LCR)14699159
Lending growth as a percentage7.85.07.9
Deposit growth as a percentage2.79.80.7
Capital adequacy ratio 1) 2)18.618.618.4
Tier 1 capital as a percentage 1) 2)16.617.116.8
Common Equity Tier 1 capital as a percentage 1) 2)15.114.915.0
Leverage Ratio (LR) 2)
Equity Certificates (ECs)      
Profit per EC (Group) (NOK) 3)7.006.5527.7028.8025.2531.20
Profit per EC (Parent Bank) (NOK) 3)12.0012.6027.0029.8525.7029.10
EC fraction 1.1 as a percentage (Parent Bank)49.649.649.649.649.649.6
Number of ECs issued (NOK million)988.70988.70988.70988.70988.70988.70
Price at Oslo Stock Exchange (NOK)276237262254188216
Stock market value (NOK million)2 7292 3432 5902 5111 8592 136
Book value per EC (Group) (NOK)280263289275257244
Dividend per EC (NOK)0.000.0014.0014.0011.5013.50
Price/Earnings (Group, annualized)
Price/Book value (P/B) (Group) 3)0.990.900.910.930.730.89
1) Calculated according to IRB in Basel II incl. transitional rule in Basel I. IRB for mass market from 31 March 2015 and IRB Foundation for corporate commitments from 30 June 2014.
2) Incl. 50 per cent of total profit after tax.
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 the equity owners.