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Financial highlights - Group
| Income statement | ||||||
|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||
| Q1 2021 | Q1 2020 | 2020 | ||||
| NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 305 | 1.51 | 342 | 1.80 | 1 228 | 1.57 |
| Net commission and other operating income | 51 | 0.26 | 53 | 0.29 | 211 | 0.27 |
| Net result from financial instruments | 34 | 0.16 | -41 | -0.23 | 74 | 0.09 |
| Total income | 390 | 1.93 | 354 | 1.86 | 1 513 | 1.93 |
| Total operating costs | 158 | 0.78 | 167 | 0.88 | 630 | 0.80 |
| Profit before impairment on loans | 232 | 1.15 | 187 | 0.98 | 883 | 1.13 |
| Impairment on loans, guarantees etc. | 14 | 0.07 | 36 | 0.19 | 149 | 0.19 |
| Pre-tax profit | 218 | 1.08 | 151 | 0.79 | 734 | 0.94 |
| Tax | 48 | 0.24 | 34 | 0.18 | 167 | 0.21 |
| Profit after tax | 170 | 0.84 | 117 | 0.61 | 567 | 0.73 |
| Statement of financial position | |||||
|---|---|---|---|---|---|
| (NOK million) | 31.03.2021 | Change in Q1 2021 (%) | 31.12.2020 | Change over the last 12 months (%) | 31.03.2020 |
| Total assets 4) | 81 072 | 2.0 | 79 486 | 2.5 | 79 070 |
| Average assets 4) | 80 764 | 2.9 | 78 450 | 6.1 | 76 097 |
| Loans to and receivables from customers | 67 711 | 1.3 | 66 850 | 3.9 | 65 145 |
| Gross loans to retail customers | 45 967 | 0.8 | 45 592 | 3.6 | 44 378 |
| Gross loans to corporate and public entities | 22 033 | 2.3 | 21 534 | 4.7 | 21 050 |
| Deposits from customers | 40 301 | 3.3 | 39 023 | 7.7 | 37 432 |
| Deposits from retail customers | 23 677 | 1.3 | 23 366 | 6.2 | 22 296 |
| Deposits from corporate and public entities | 16 624 | 6.2 | 15 657 | 9.8 | 15 136 |
| Key figures and alternative performance measures (APMs) | |||
|---|---|---|---|
| Q1 2021 | Q1 2020 | 2020 | |
| Return on equity (annualised) 3) 4) | 10.4 | 7.1 | 8.6 |
| Cost/income ratio 4) | 40.5 | 47.2 | 41.6 |
| Losses as a percentage of loans (annualised) 4) | 0.09 | 0.22 | 0.23 |
| Gross credit-impaired commitments as a percentage of loans/guarantees | 1.52 | 1.50 | 1.53 |
| Net credit-impaired commitments as a percentage of loans/guarantees | 1.19 | 1.12 | 1.22 |
| Deposit-to-loan ratio 4) | 59.3 | 57.5 | 58.1 |
| Liquidity Coverage Ratio (LCR) | 138 | 125 | 138 |
| Lending growth as a percentage 4) | 3.9 | 6.3 | 4.4 |
| Deposit growth as a percentage 4) | 7.7 | 6.7 | 6.0 |
| Capital adequacy ratio 1) | 20.6 | 20.7 | 20.8 |
| Tier 1 capital ratio 1) | 18.6 | 18.6 | 18.7 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 16.9 | 16.9 | 17.0 |
| Leverage Ratio (LR) 1) | 7.7 | 7.8 | 7.7 |
| Man-years | 343 | 354 | 346 |
| Equity Certificates (ECs) | |||||||
|---|---|---|---|---|---|---|---|
| 31.03.2021 | 31.03.2020 | 2020 | 2019 | 2018 | 2017 | ||
| Profit per EC (Group) (NOK) 2) | 8.26 | 5.46 | 27.10 | 34.50 | 29.60 | 27.70 | |
| Profit per EC (Parent Bank) (NOK) 2) | 17.20 | 14.47 | 26.83 | 32.00 | 28.35 | 27.00 | |
| EC fraction 1.1 as a percentage (Parent Bank) | 49.6 | 49.6 | 49.6 | 49.6 | 49.6 | 49.6 | |
| EC capital (NOK million) | 988.70 | 988.70 | 988.70 | 988.70 | 988.70 | 988.70 | |
| Price at Oslo Stock Exchange (NOK) | 328 | 257 | 296 | 317 | 283 | 262 | |
| Stock market value (NOK million) | 3 243 | 2 540 | 2 927 | 3 134 | 2 798 | 2 590 | |
| Book value per EC (Group) (NOK) 4) | 335 | 325 | 332 | 320 | 303 | 289 | |
| Dividend per EC (NOK) | 0.00 | 0.00 | 4.50 | 14.00 | 15.50 | 14.00 | |
| Price/Earnings (Group, annualised) | 9.9 | 11.8 | 10.9 | 9.2 | 9.5 | 9.4 | |
| Price/Book value (P/B) (Group) 2) 4) | 0.98 | 0.79 | 0.89 | 0.99 | 0.93 | 0.91 | |
| 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. | |||||||