Financial highlights - Group

Income statement    
(Amounts in percentage of average assets)  
 Q1 2022Q1 20212021
 NOK million%NOK million%NOK million%
Net interest income3341.623041.531 2661.56
Net commission and other operating income550.27490.252180.27
Net result from financial instruments-2-0.01340.17430.05
Total income3871.883871.951 5271.88
Total operating costs1780.861550.786450.80
Profit before impairment on loans2091.022321.178821.08
Impairment on loans, guarantees etc.00.00140.07490.06
Pre-tax profit2091.022181.108331.02
Profit after tax1630.801700.866420.78
Statement of financial position
(NOK million)31.03.2022Change in Q1 2022 (%)31.12.2021Change over the last 12 months (%)31.03.2021
Total assets 4)83 8051.282 7973.481 072
Average assets 4)82 3731.880 9423.779 411
Loans to and receivables from customers70 3800.769 9253.967 711
Gross loans to retail customers47 8360.647 5574.145 967
Gross loans to corporate and public entities22 8690.822 6973.822 033
Deposits from customers43 5013.941 8537.940 301
Deposits from retail customers25 3612.824 6677.123 677
Deposits from corporate and public entities18 1405.617 1869.116 624
Key figures and alternative performance measures (APMs)
 Q1 2022Q1 20212021
Return on equity (annualised) 3) 4)9.310.29.5
Cost/income ratio 4)46.039.942.2
Losses as a percentage of loans (annualised) 4)
Gross credit-impaired commitments as a percentage of loans/guarantee liabilities1.411.521.52
Net credit-impaired commitments as a percentage of loans/guarantee liabilities1.071.191.16
Deposit-to-loan ratio 4)61.559.359.6
Liquidity Coverage Ratio (LCR)143138122
Lending growth as a percentage 4)
Deposit growth as a percentage 4)
Capital adequacy ratio 1)20.820.620.9
Tier 1 capital ratio 1)18.818.618.9
Common Equity Tier 1 capital ratio (CET1) 1)17.216.917.2
Leverage Ratio (LR) 1)
Equity Certificates (ECs)      
Profit per EC (Group) (NOK) 2)7.858.2631.1027.1034.5029.60
Profit per EC (Parent bank) (NOK) 2)17.3417.2030.9826.8332.0028.35
EC fraction 1.1 as a percentage (Parent bank)49.749.649.749.649.649.6
EC capital (NOK million)988.70988.70988.70988.70988.70988.70
Price at Oslo Stock Exchange (NOK)441328444296317283
Stock market value (NOK million)4 3603 2434 3902 9273 1342 798
Book value per EC (Group, incl. proposed dividends) (NOK) 4)343335350332320303
Dividend per EC (NOK)0.000.0016.0013.5014.0015.50
Price/Earnings (Group, annualised)14.09.914.310.99.29.6
Price/Book value (P/B) (Group) 2) 4)1.290.981.270.890.990.93
1) Incl. 50 % of the comprehensive income after tax
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.