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Financial highlights - Group
| Income statement | ||||||
|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||
| Q1 2025 | Q1 2024 | 2024 | ||||
| NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 485 | 1.87 | 508 | 2.07 | 2 071 | 2.08 |
| Net commission and other operating income | 67 | 0.26 | 54 | 0.22 | 287 | 0.29 |
| Net result from financial instruments | 15 | 0.06 | 16 | 0.06 | 43 | 0.04 |
| Total income | 567 | 2.19 | 578 | 2.35 | 2 401 | 2.41 |
| Total operating expenses | 252 | 0.98 | 228 | 0.93 | 955 | 0.96 |
| Profit before impairment on loans | 315 | 1.21 | 350 | 1.42 | 1 446 | 1.45 |
| Impairment on loans, guarantees etc. | 13 | 0.05 | 17 | 0.07 | 20 | 0.02 |
| Pre-tax profit | 302 | 1.16 | 333 | 1.35 | 1 426 | 1.43 |
| Taxes | 70 | 0.27 | 79 | 0.32 | 340 | 0.34 |
| Profit after tax | 232 | 0.89 | 254 | 1.03 | 1 086 | 1.09 |
| Balance sheet | |||||
|---|---|---|---|---|---|
| (NOK million) | 31.03.2025 | Change last three months (%) | 31.12.2024 | Change last twelve months (%) | 31.03.2024 |
| Total assets 4) | 104 345 | 2.0 | 102 335 | 5.0 | 99 372 |
| Average assets 4) | 103 863 | 4.1 | 99 776 | 5.7 | 98 236 |
| Loans to and receivables from customers | 88 770 | 2.2 | 86 875 | 6.6 | 83 260 |
| Gross loans to retail customers | 58 440 | 1.0 | 57 872 | 7.2 | 54 513 |
| Gross loans to corporate and public entities | 30 586 | 4.5 | 29 255 | 5.4 | 29 028 |
| Deposits from customers | 51 262 | 3.5 | 49 550 | 6.4 | 48 191 |
| Deposits from retail customers | 30 790 | 2.1 | 30 149 | 3.6 | 29 729 |
| Deposits from corporate and public entities | 20 472 | 5.5 | 19 401 | 10.9 | 18 462 |
| Key figures and Alternative Performance Measures (APMs) | |||
|---|---|---|---|
| Q1 2025 | Q1 2024 | 2024 | |
| Return on equity (annualised) 3) 4) | 11.2 | 13.1 | 13.7 |
| Cost/income ratio 4) | 44.5 | 39.5 | 39.8 |
| Losses as a percentage of loans and guarantees (annualised) 4) | 0.06 | 0.08 | 0.02 |
| Gross credit-impaired commitments as a percentage of loans/guarantee liabilities | 0.44 | 0.57 | 0.58 |
| Net credit-impaired commitments as a percentage of loans/guarantee liabilities | 0.32 | 0.44 | 0.45 |
| Deposit-to-loan ratio 4) | 57.6 | 57.7 | 56.9 |
| Liquidity Coverage Ratio (LCR) | 141 | 173 | 167 |
| NSFR (Net Stable Funding Ratio) | 119 | 124 | 122 |
| Lending growth as a percentage 4) | 6.6 | 6.9 | 6.5 |
| Deposit growth as a percentage 4) | 6.4 | 9.0 | 4.5 |
| Capital adequacy ratio 1) | 20.7 | 23.1 | 21.1 |
| Tier 1 capital ratio 1) | 18.7 | 20.8 | 19.0 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 17.0 | 18.5 | 17.2 |
| Leverage Ratio (LR) 1) | 7.3 | 7.7 | 7.4 |
| Man-years | 399 | 416 | 402 |
| Equity Certificates (ECs) | |||||||
|---|---|---|---|---|---|---|---|
| 31.03.2025 | 31.03.2024 | 2024 | 2023 | 2022 | 2021 | ||
| Profit per EC (Group) (NOK) 2) 5) | 2.13 | 2.41 | 9.95 | 10.12 | 7.50 | 31.10 | |
| Profit per EC (parent bank) (NOK) 2) 5) | 3.38 | 3.32 | 9.55 | 10.34 | 8.48 | 30.98 | |
| Number of ECs 5) | 49 795 520 | 49 434 770 | 49 795 520 | 49 434 770 | 49 434 770 | 9 886 954 | |
| Nominal value per EC (NOK) 5) | 20.00 | 20.00 | 20.00 | 20.00 | 20.00 | 100.00 | |
| EC fraction 1.1 as a percentage (parent bank) | 49.1 | 49.7 | 49.1 | 49.7 | 49.7 | 49.7 | |
| EC capital (NOK million) | 995.90 | 988.70 | 995.90 | 988.70 | 988.70 | 988.70 | |
| Price at Oslo Stock Exchange (NOK) | 102.8 | 91.2 | 97.0 | 84.0 | 84.4 | 444 | |
| Stock market value (NOK million) | 5 117 | 4 509 | 4 830 | 4 153 | 4 173 | 4 390 | |
| Book value per EC (Group) (NOK) 4) 5) | 83.8 | 83.1 | 81.5 | 80.7 | 74.8 | 350 | |
| Dividend per EC (NOK) 5) | 0.00 | 0.00 | 6.25 | 7.50 | 4.00 | 16.00 | |
| Price/Earnings (Group, annualised) | 12.0 | 9.4 | 9.8 | 8.3 | 11.3 | 14.3 | |
| Price/Book value (P/B) (Group) 2) 4) | 1.23 | 1.10 | 1.19 | 1.04 | 1.13 | 1.27 | |
| 1) Incl. 50 % of the comprehensive income after tax | |||||||
| 2) Calculated using the EC-holders' share 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 | |||||||