Financial highlights - Group

Income statement          
(Amounts in percentage of average assets)
 Q2 2020Q2 201930.06.202030.06.20192019
 NOK million%NOK million%NOK million%NOK million%NOK million%
Net interest income2661.353201.756081.576241.721 3141.79
Net commission and other operating income510.37550.301040.271040.292190.30
Net return on financial investments730.26230.13320.08510.14740.10
Total income3901.983982.187441.927792.151 6072.19
Total operating costs1570.801600.883240.843170.886460.88
Profit before impairment on loans2331.182381.304201.084621.279611.31
Impairment on loans, guarantees etc.420.2160.03780.20190.05500.07
Pre-tax profit1910.972321.273420.884431.229111.24
Profit after tax1500.761810.982670.693430.947110.97
Statement of financial position
(NOK million)30.06.2020% change YTD 202031.12.2019% change during the last 12 months30.06.2019
Total assets 4)81 2398.574 8758.474 928
Average assets 4)77 5705.573 4967.272 386
Loans to and receivables from customers65 0941.764 0294.162 529
Gross loans to retail customers44 7652.143 8473.243 381
Gross loans to corporate and public entities20 6330.920 4416.419 393
Deposits from customers39 0556.136 8034.637 321
Deposits from retail customers23 6759.221 6858.121 910
Deposits from corporate and public entities15 3801.715 118-0.215 411
Key figures and alternative performance measures (APMs)
 Q2 2020Q2 201930.06.202030.06.20192019
Return on equity (annualised) 3) 4)
Cost income ratio 4)40.340.043.540.740.2
Losses as a percentage of loans (annualised) 4)
Gross credit-impaired commitments as a percentage of loans/guarantees1.851.561.851.561.48
Net credit-impaired commitments as a percentage of loans/guarantees1.411.171.411.171.12
Deposit-to-loan ratio 4)60.059.760.059.757.5
Liquidity Coverage Ratio (LCR)170156170156165
Lending growth as a percentage 4)-
Deposit growth as a percentage 4)
Capital adequacy ratio 1)
Tier 1 capital ratio 1)
Common Equity Tier 1 capital ratio (CET1) 1)17.315.117.315.117.7
Leverage Ratio (LR) 1)
Equity Certificates (ECs)      
Profit per EC (Group) (NOK) 2)12.6216.8034.5029.6027.7028.80
Profit per EC (Parent Bank) (NOK) 2)19.2320.3532.0028.3527.0029.85
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)296318317283262254
Stock market value (NOK million)2 9273 1443 1342 7982 5902 511
Book value per EC (Group) (NOK) 4)319305320303289275
Dividend per EC (NOK)14.0015.5014.0015.5014.0014.00
Price/Earnings (Group, annualised)
Price/Book value (P/B) (Group) 2) 4)0.931.040.990.930.910.93
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