Back
Financial highlights - Group
| Income statement | ||||||
|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||
| Q1 2024 | Q1 2023 | 2023 | ||||
| NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 508 | 2.07 | 445 | 1.98 | 1 900 | 2.02 |
| Net commission and other operating income | 54 | 0.22 | 55 | 0.24 | 250 | 0.26 |
| Net result from financial instruments | 16 | 0.06 | 0 | 0.00 | 45 | 0.05 |
| Total income | 578 | 2.35 | 500 | 2.22 | 2 195 | 2.33 |
| Total operating expenses | 228 | 0.93 | 198 | 0.88 | 859 | 0.91 |
| Profit before impairment on loans | 350 | 1.42 | 302 | 1.34 | 1 336 | 1.42 |
| Impairment on loans, guarantees etc. | 17 | 0.07 | 33 | 0.15 | -53 | -0.06 |
| Pre-tax profit | 333 | 1.35 | 269 | 1.19 | 1 389 | 1.48 |
| Taxes | 79 | 0.32 | 62 | 0.27 | 334 | 0.35 |
| Profit after tax | 254 | 1.03 | 207 | 0.92 | 1 055 | 1.13 |
| Balance sheet | |||||
|---|---|---|---|---|---|
| (NOK million) | 31.03.2024 | Change last three months (%) | 31.12.2023 | Change last 12 months (%) | 31.03.2023 |
| Total assets 4) | 99 372 | 2.7 | 96 735 | 6.7 | 93 159 |
| Average assets 4) | 98 236 | 4.4 | 94 095 | 9.1 | 90 069 |
| Loans to and receivables from customers | 83 260 | 2.1 | 81 572 | 6.9 | 77 867 |
| Gross loans to retail customers | 54 513 | 1.3 | 53 795 | 5.2 | 51 805 |
| Gross loans to corporate and public entities | 29 028 | 3.5 | 28 039 | 9.9 | 26 413 |
| Deposits from customers | 48 191 | 1.6 | 47 410 | 9.0 | 44 225 |
| Deposits from retail customers | 29 729 | 1.7 | 29 226 | 10.6 | 26 880 |
| Deposits from corporate and public entities | 18 462 | 1.5 | 18 184 | 6.4 | 17 345 |
| Key figures and Alternative Performance Measures (APMs) | |||
|---|---|---|---|
| Q1 2024 | Q1 2023 | 2023 | |
| Return on equity (annualised) 3) 4) | 13.1 | 11.0 | 14.0 |
| Cost/income ratio 4) | 39.5 | 39.7 | 39.2 |
| Losses as a percentage of loans and guarantees (annualised) 4) | 0.08 | 0.17 | -0.07 |
| Gross credit-impaired commitments as a percentage of loans/guarantee liabilities | 0.57 | 1.55 | 0.51 |
| Net credit-impaired commitments as a percentage of loans/guarantee liabilities | 0.44 | 1.28 | 0.39 |
| Deposit-to-loan ratio 4) | 57.7 | 56.5 | 57.9 |
| Liquidity Coverage Ratio (LCR) | 173 | 177 | 174 |
| NSFR (Net Stable Funding Ratio) | 124 | 121 | 124 |
| Lending growth as a percentage 4) | 6.9 | 10.6 | 7.2 |
| Deposit growth as a percentage 4) | 9.0 | 1.7 | 8.0 |
| Capital adequacy ratio 1) | 23.1 | 22.2 | 22.2 |
| Tier 1 capital ratio 1) | 20.8 | 19.5 | 20.0 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 18.5 | 17.7 | 18.2 |
| Leverage Ratio (LR) 1) | 7.7 | 7.4 | 7.5 |
| Man-years | 416 | 387 | 400 |
| Equity Certificates (ECs) | |||||||
|---|---|---|---|---|---|---|---|
| 31.03.2024 | 31.03.2023 | 2023 | 2022 | 2021 | 2020 | ||
| Profit per EC (Group) (NOK) 2) 5) | 2.41 | 1.96 | 10.12 | 7.50 | 31.10 | 27.10 | |
| Profit per EC (parent bank) (NOK) 2) 5) | 3.32 | 3.10 | 10.34 | 8.48 | 30.98 | 26.83 | |
| Number of ECs 5) | 49 434 770 | 49 434 770 | 49 434 770 | 49 434 770 | 9 886 954 | 9 886 954 | |
| Nominal value per EC (NOK) 5) | 20.00 | 20.00 | 20.00 | 20.00 | 100.00 | 100.00 | |
| EC fraction 1.1 as a percentage (parent bank) | 49.7 | 49.7 | 49.7 | 49.7 | 49.7 | 49.6 | |
| EC capital (NOK million) | 988.70 | 988.70 | 988.70 | 988.70 | 988.70 | 988.70 | |
| Price at Oslo Stock Exchange (NOK) | 91.2 | 77.75 | 84.00 | 84.41 | 444.00 | 296.00 | |
| Stock market value (NOK million) | 4 509 | 3 844 | 4 153 | 4 173 | 4 390 | 2 927 | |
| Book value per EC (Group) (NOK) 4) 5) | 83.1 | 72.9 | 80.7 | 74.8 | 350 | 332 | |
| Dividend per EC (NOK) 5) | 0.00 | 0.00 | 7.50 | 4.00 | 16.00 | 13.50 | |
| Price/Earnings (Group, annualised) | 9.4 | 9.9 | 8.3 | 11.3 | 14.3 | 10.9 | |
| Price/Book value (P/B) (Group) 2) 4) | 1.10 | 1.07 | 1.04 | 1.13 | 1.27 | 0.89 | |
| 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 www.sbm.no/IR | |||||||
| 5) Our EC(MORG) was split 1:5 in April 2022 | |||||||