Financial highlights - Group

Income statement          
(Amounts in percentage of average assets)
 Q2 2019Q2 201830.06.201930.06.20182018
 NOK million%NOK million%NOK million%NOK million%NOK million%
Net interest income3201.752911.686241.725801.711 1791.70
Net commission and other operating income550.30520.301040.29990.292070.30
Net return from financial investments230.13260.15510.14320.10410.06
Total income3982.183692.137792.157112.101 4272.06
Total operating costs1600.881500.873170.882990.886030.87
Profit before impairment on loans2381.302191.264621.274121.228241.19
Impairment on loans, guarantees etc.60.03-5-0.03190.05-3-0.01160.02
Pre tax profit2321.272241.294431.224151.238081.17
Profit after tax1790.981741.003410.943150.946050.88
Statement of financial position
(NOK million)30.06.2019% change YTD 201931.12.2018% change during last 12 months30.06.2018
Total assets 5)74 9285.471 0746.270 578
Average assets 5)72 3864.369 3736.468 033
Loans to and receivables from customers62 5293.660 3466.258 874
Gross loans to retail customers43 3313.441 9176.240 806
Gross loans to corporate and public entities19 3934.218 6166.218 264
Deposits from customers37 3218.434 4149.034 239
Deposits from retail customers21 9106.220 6245.120 852
Deposits from corporate and public entities15 41111.813 79015.113 387
Key figures and alternative performance measures (APMs)
 Q2 2019Q2 201830.06.201930.06.20182018
Return on equity (annualised) 4) 5)12.012.311.511.210.6
Cost income ratio 5)40.040.640.742.142.3
Losses as a percentage of loans (annualised) 5)0.04-0.030.06-0.010.03
Gross problem loans as a percentage of loans1.560.571.560.570.62
Net problem loans as a percentage of loans1.190.411.190.410.46
Deposit-to-loan ratio 5)59.758.259.758.257.0
Liquidity Coverage Ratio (LCR)156167156167158
Lending growth as a percentage 5)
Deposit growth as a percentage 5)
Capital adequacy ratio 1) 2)
Tier 1 capital ratio 1) 2)
Common Equity Tier 1 capital ratio (CET 1) 1) 2)15.115.515.115.516.0
Leverage Ratio (LR) 2)
Equity Certificates (ECs)      
Profit per EC (Group) (NOK) 3)16.8015.4529.8027.7028.8025.25
Profit per EC (Parent Bank) (NOK) 3)20.3518.4028.3527.0029.8525.70
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)318273283262254188
Stock market value (NOK million)3 1442 7002 7982 5902 5111 859
Book value per EC (Group) (NOK) 5)305288303289275257
Dividend per EC (NOK)15.5014.0015.5014.0014.0011.50
Price/Earnings (Group, annualised)
Price/Book value (P/B) (Group) 3) 5)1.040.950.930.910.930.73
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.
5) Defined as alternative performance measure (APM), see attachment to the quarterly report.