Financial highlights - Group

Income statement      
(Amounts in percentage of average assets)
 Q1 2020Q1 20192019
 NOK million%NOK million%NOK million%
Net interest income3421.803041.691 3141.79
Net commission and other operating income530.29490.272190.30
Net return on financial investments-41-0.23280.16740.10
Total income3541.863812.121 6072.19
Total operating costs1670.881570.876460.88
Profit before impairment on loans1870.982241.259611.31
Impairment on loans, guarantees etc.360.19130.07500.07
Pre-tax profit1510.792111.189111.24
Profit after tax1170.611620.927110.97
Statement of financial position
(NOK million)31.03.2020% change Q1-202031.12.2019% change YTD 201931.03.2019
Total assets 4)79 0705.674 87511.271 135
Average assets 4)76 0973.573 4966.071 797
Loans to and receivables from customers65 1451.764 0296.361 270
Gross loans to retail customers44 2421.043 8154.342 424
Gross loans to corporate and public entities21 0503.020 44110.419 064
Deposits from customers37 4321.736 8036.735 066
Deposits from retail customers22 2962.821 6856.920 852
Deposits from corporate and public entities15 1360.115 1186.514 214
Key figures and alternative performance measures (APMs)
 Q1 2020Q1 20192019
Return on equity (annualised) 3) 4)
Cost income ratio 4)
Losses as a percentage of loans (annualised) 4)
Gross credit-impaired commitments as a percentage of loans/guarantees1.501.551.48
Net credit-impaired commitments as a percentage of loans/guarantees1.121.141.12
Deposit-to-loan ratio 4)57.557.257.5
Liquidity Coverage Ratio (LCR)125125165
Lending growth as a percentage 4)
Deposit growth as a percentage 4)
Capital adequacy ratio 1)20.719.421.7
Tier 1 capital ratio 1)18.617.319.5
Common Equity Tier 1 capital ratio (CET1) 1)16.915.917.7
Leverage Ratio (LR) 1)
Equity Certificates (ECs)      
Profit per EC (Group) (NOK) 2)5.467.9534.5029.6027.7028.80
Profit per EC (Parent Bank) (NOK) 2)14.4714.1332.0028.3527.0029.85
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)257299317283262254
Stock market value (NOK million)2 5402 9563 1342 7982 5902 511
Book value per EC (Group) (NOK) 4)325296320303289275
Dividend per EC (NOK)0.000.0014.0015.5014.0014.00
Price/Earnings (Group, annualised)
Price/Book value (P/B) (Group) 2) 4)0.791.010.990.930.910.93
1) Incl. 50 % of the profit after tax
2) Calculated using the EC-holders' share (49.6 %) 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.