Financial highlights Group

Income statement      
 Q1 2019Q1 20182018
 NOK million%NOK million%NOK million%
Net interest income3041.692891.731 1791.70
Net commission and other operating income490.27470.282070.30
Net return from financial investments280.1660.04410.06
Total income3812.123422.051 4272.06
Total operating costs1570.871490.896030.87
Profit before impairment on loans2241.251931.168241.19
Impairment on loans, guarantees etc.130.0720.01160.02
Pre-tax profit2111.181911.158081.17
Profit after tax1620.921410.866050.88
Statement of financial position     
NOK million31.03.2019% change in Q1 201931.12.2018% change during last 12 months31.03.2018
Total assets71 1350.171 0743.668 660
Average assets71 7973.569 3737.466 866
Loans to and receivables from customers61 2701.560 3465.258 247
Gross loans to retail customers42 4241.241 9175.540 224
Gross loans to corporate and public entities19 0642.418 6164.618 229
Deposits from customers35 0661.934 4144.633 539
Deposits from retail customers20 8521.120 6244.619 928
Deposits from corporate and public entities14 2143.113 7904.413 611
Key figures   
 Q1 2019Q1 20182018
Return on equity (annualised) 4)
Cost income ratio41.243.642.3
Losses as a percentage of loans (annualised)
Gross problem loans as a percentage of loans0.880.580.62
Net problem loans as a percentage of loans0.640.400.46
Deposit-to-loan ratio57.257.657.0
Liquidity Coverage Ratio (LCR)125146158
Lending growth as a percentage5.27.86.1
Deposit growth as a percentage4.62.74.9
Capital adequacy ratio 1) 2)19.418.619.6
Tier 1 capital ratio 1) 2)17.316.617.6
Common Equity Tier 1 capital ratio (CET1) 1) 2)15.915.116.0
Leverage Ratio (LR) 2)
Equity Certificates (ECs)      
Profit per EC (Group) (NOK) 3)7.957.0029.8027.7028.8025.25
Profit per EC (Parent Bank) (NOK) 3)14.1012.0028.3527.0029.8525.70
EC fraction 1.1 as a percentage (Parent Bank)49.649.649.649.649.649.6
EC capital (NOK million)988.70988.70988.70988.70988.70988.70
Price at Oslo Stock Exchange (NOK)299276283262254188
Stock market value (NOK million)2 9562 7292 7982 5902 5111 859
Book value per EC (Group, incl. dividend) (NOK)296280303289275257
Dividend per EC (NOK)0.000.0015.5014.0014.0011.50
Price/Earnings (Group, annualised)
Price/Book value (P/B) (Group) 3)1.010.990.930.910.930.73
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. 50 per cent of 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 equity owners.