Financial highlights - Group

Income statement          
 Q2 2018Q2 201730.06.201830.06.20172017
 NOK million%NOK million%NOK million%NOK million%NOK million%
Net interest income2911.682681.715801.715291.691 1001.72
Net commission and other operating income520.30500.32990.29920.301940.30
Net return from financial investments260.15130.08320.10370.12480.08
Total income3692.133312.117112.106582.111 3422.10
Total operating costs1500.871510.962990.883010.965900.92
Profit before impairment on loans2191.261801.154121.223571.157521.18
Impairment on loans, guarantees etc.-5-0.0360.03-3-0.0180.03130.02
Pre tax profit2241.291741.124151.233491.127391.16
Profit after tax1741.001300.843150.942610.855570.88
Statement of financial position     
(NOK million)30.06.2018% change YTD 201831.12.2017% change during last 12 months30.06.2017
Total assets70 5786.166 4917.565 652
Average assets68 0336.364 0008.962 446
Loans to and receivables from customers58 8693.556 8675.056 040
Gross loans to retail customers40 8062.539 8175.638 634
Gross loans to corporate and public entities18 2646.417 1684.217 524
Deposits from customers34 2394.432 8032.233 514
Deposits from retail customers20 8525.919 6883.920 078
Deposits from corporate and public entities13 3872.213 1010.413 332
Key figures     
 Q2 2018Q2 201730.06.201830.06.20172017
Return on equity (annualised) 4)12.310.
Cost income ratio40.645.642.145.744.0
Losses as a percentage of loans 1.1/start of the period-0.030.04-
Problem loans as a percentage of loans (prior to impairment)0.570.620.570.620.57
Problem loans as a percentage of loans (after impairment)0.410.450.410.450.40
Deposits to lending ratio as a percentage58.259.858.259.857.7
Liquidity Coverage Ratio (LCR)167132167132159
Lending growth as a percentage3.
Deposit growth as a percentage4.
Capital adequacy ratio 1) 2)19.118.919.118.918.4
Tier 1 capital ratio 1) 2)17.116.917.116.916.8
Common Equity Tier 1 capital ratio (CET1) 1) 2)15.514.315.514.315.0
Leverage Ratio (LR) 2)
Equity Certificates (ECs)      
Profit per EC (Group) (NOK) 3)15.4513.1027.7028.8025.2531.20
Profit per EC (Parent Bank) (NOK) 3)18.4017.6027.0029.8525.7029.10
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)273244262254188216
Stock market value (NOK million)2 7002 4122 5902 5111 8592 136
Book value per EC (Group) (NOK)288270289275257244
Dividend per EC (NOK)14.0014.0014.0014.0011.5013.50
Price/Earnings (Group, annualised)
Price/Book value (P/B) (Group) 3)0.950.900.910.930.730.89
1) Calculated according to IRB in Basel II incl. transitional rule in Basel I. IRB for mass market from 31st March 2015 and IRB Foundation for corporate commitments from 30th June 2014.
2) Incl. 50 per cent of profit after tax
3) Calculated using the EC-holders' share (49.6 %) of the period's profit to be allocated to equity owners.
4) Calculated using the share of the profit to be allocated to equity owners.