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Financial highlights - Group
| Income statement | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||||||
| Q2 2020 | Q2 2019 | 30.06.2020 | 30.06.2019 | 2019 | ||||||
| NOK million | % | NOK million | % | NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 266 | 1.35 | 320 | 1.75 | 608 | 1.57 | 624 | 1.72 | 1 314 | 1.79 |
| Net commission and other operating income | 51 | 0.37 | 55 | 0.30 | 104 | 0.27 | 104 | 0.29 | 219 | 0.30 |
| Net return on financial investments | 73 | 0.26 | 23 | 0.13 | 32 | 0.08 | 51 | 0.14 | 74 | 0.10 |
| Total income | 390 | 1.98 | 398 | 2.18 | 744 | 1.92 | 779 | 2.15 | 1 607 | 2.19 |
| Total operating costs | 157 | 0.80 | 160 | 0.88 | 324 | 0.84 | 317 | 0.88 | 646 | 0.88 |
| Profit before impairment on loans | 233 | 1.18 | 238 | 1.30 | 420 | 1.08 | 462 | 1.27 | 961 | 1.31 |
| Impairment on loans, guarantees etc. | 42 | 0.21 | 6 | 0.03 | 78 | 0.20 | 19 | 0.05 | 50 | 0.07 |
| Pre-tax profit | 191 | 0.97 | 232 | 1.27 | 342 | 0.88 | 443 | 1.22 | 911 | 1.24 |
| Tax | 41 | 0.21 | 51 | 0.29 | 75 | 0.19 | 100 | 0.28 | 200 | 0.27 |
| Profit after tax | 150 | 0.76 | 181 | 0.98 | 267 | 0.69 | 343 | 0.94 | 711 | 0.97 |
| Statement of financial position | |||||
|---|---|---|---|---|---|
| (NOK million) | 30.06.2020 | % change YTD 2020 | 31.12.2019 | % change during the last 12 months | 30.06.2019 |
| Total assets 4) | 81 239 | 8.5 | 74 875 | 8.4 | 74 928 |
| Average assets 4) | 77 570 | 5.5 | 73 496 | 7.2 | 72 386 |
| Loans to and receivables from customers | 65 094 | 1.7 | 64 029 | 4.1 | 62 529 |
| Gross loans to retail customers | 44 765 | 2.1 | 43 847 | 3.2 | 43 381 |
| Gross loans to corporate and public entities | 20 633 | 0.9 | 20 441 | 6.4 | 19 393 |
| Deposits from customers | 39 055 | 6.1 | 36 803 | 4.6 | 37 321 |
| Deposits from retail customers | 23 675 | 9.2 | 21 685 | 8.1 | 21 910 |
| Deposits from corporate and public entities | 15 380 | 1.7 | 15 118 | -0.2 | 15 411 |
| Key figures and alternative performance measures (APMs) | |||||
|---|---|---|---|---|---|
| Q2 2020 | Q2 2019 | 30.06.2020 | 30.06.2019 | 2019 | |
| Return on equity (annualised) 3) 4) | 9.2 | 12.0 | 8.2 | 11.5 | 11.7 |
| Cost income ratio 4) | 40.3 | 40.0 | 43.5 | 40.7 | 40.2 |
| Losses as a percentage of loans (annualised) 4) | 0.26 | 0.04 | 0.24 | 0.06 | 0.08 |
| Gross credit-impaired commitments as a percentage of loans/guarantees | 1.85 | 1.56 | 1.85 | 1.56 | 1.48 |
| Net credit-impaired commitments as a percentage of loans/guarantees | 1.41 | 1.17 | 1.41 | 1.17 | 1.12 |
| Deposit-to-loan ratio 4) | 60.0 | 59.7 | 60.0 | 59.7 | 57.5 |
| Liquidity Coverage Ratio (LCR) | 170 | 156 | 170 | 156 | 165 |
| Lending growth as a percentage 4) | -0.1 | 3.6 | 4.1 | 6.2 | 6.1 |
| Deposit growth as a percentage 4) | 4.3 | 8.5 | 4.6 | 9.0 | 6.9 |
| Capital adequacy ratio 1) | 21.2 | 19.1 | 21.2 | 19.1 | 21.7 |
| Tier 1 capital ratio 1) | 19.1 | 17.2 | 19.1 | 17.2 | 19.5 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 17.3 | 15.1 | 17.3 | 15.1 | 17.7 |
| Leverage Ratio (LR) 1) | 7.7 | 7.9 | 7.7 | 7.9 | 8.1 |
| Man-years | 360 | 358 | 360 | 358 | 357 |
| Equity Certificates (ECs) | |||||||
|---|---|---|---|---|---|---|---|
| 30.06.2020 | 30.06.2019 | 2019 | 2018 | 2017 | 2016 | ||
| Profit per EC (Group) (NOK) 2) | 12.62 | 16.80 | 34.50 | 29.60 | 27.70 | 28.80 | |
| Profit per EC (Parent Bank) (NOK) 2) | 19.23 | 20.35 | 32.00 | 28.35 | 27.00 | 29.85 | |
| EC fraction 1.1 as a percentage (Parent Bank) | 49.6 | 49.6 | 49.6 | 49.6 | 49.6 | 49.6 | |
| EC capital (NOK million) | 988.70 | 988.70 | 988.70 | 988.70 | 988.70 | 988.70 | |
| Price at Oslo Stock Exchange (NOK) | 296 | 318 | 317 | 283 | 262 | 254 | |
| Stock market value (NOK million) | 2 927 | 3 144 | 3 134 | 2 798 | 2 590 | 2 511 | |
| Book value per EC (Group) (NOK) 4) | 319 | 305 | 320 | 303 | 289 | 275 | |
| Dividend per EC (NOK) | 14.00 | 15.50 | 14.00 | 15.50 | 14.00 | 14.00 | |
| Price/Earnings (Group, annualised) | 11.7 | 9.5 | 9.2 | 9.5 | 9.4 | 8.8 | |
| Price/Book value (P/B) (Group) 2) 4) | 0.93 | 1.04 | 0.99 | 0.93 | 0.91 | 0.93 | |
| 1) Incl. 50 % of the profit after tax | |||||||
| 2) Calculated using the EC-holders' share (49.6 %) 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 | |||||||