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Financial highlights - Group
| Income statement | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||||||
| Q2 2022 | Q2 2021 | 30.06.2022 | 30.06.2021 | 2021 | ||||||
| NOK million | % | NOK million | % | NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 353 | 1.65 | 307 | 1.53 | 687 | 1.64 | 611 | 1.53 | 1 266 | 1.56 |
| Net commission and other operating income | 59 | 0.28 | 52 | 0.27 | 114 | 0.27 | 101 | 0.26 | 218 | 0.27 |
| Net result from financial instruments | -10 | -0.05 | 12 | 0.06 | -12 | -0.03 | 46 | 0.12 | 43 | 0.05 |
| Total income | 402 | 1.88 | 371 | 1.86 | 789 | 1.88 | 758 | 1.91 | 1 527 | 1.88 |
| Total operating costs | 174 | 0.82 | 158 | 0.80 | 352 | 0.84 | 313 | 0.80 | 645 | 0.80 |
| Profit before impairment on loans | 228 | 1.06 | 213 | 1.06 | 437 | 1.04 | 445 | 1.11 | 882 | 1.08 |
| Impairment on loans, guarantees etc. | -8 | -0.04 | 28 | 0.14 | -8 | -0.02 | 42 | 0.11 | 49 | 0.06 |
| Pre-tax profit | 236 | 1.10 | 185 | 0.92 | 445 | 1.06 | 403 | 1.00 | 833 | 1.02 |
| Tax | 53 | 0.25 | 42 | 0.21 | 99 | 0.24 | 90 | 0.23 | 191 | 0.24 |
| Profit after tax | 183 | 0.85 | 143 | 0.71 | 346 | 0.82 | 313 | 0.77 | 642 | 0.78 |
| Statement of financial position | |||||
|---|---|---|---|---|---|
| (NOK million) | 30.06.2022 | YTD-change in per cent | 31.12.2021 | Change in per cent over the last 12 months | 30.06.2021 |
| Total assets 4) | 85 314 | 3.0 | 82 797 | 3.0 | 82 830 |
| Average assets 4) | 83 796 | 3.5 | 80 942 | 4.9 | 79 862 |
| Loans to and receivables from customers | 72 300 | 3.4 | 69 925 | 4.6 | 69 132 |
| Gross loans to retail customers | 48 826 | 2.7 | 47 557 | 4.1 | 46 919 |
| Gross loans to corporate and public entities | 23 789 | 4.8 | 22 697 | 5.6 | 22 526 |
| Deposits from customers | 44 946 | 7.4 | 41 853 | 8.3 | 41 484 |
| Deposits from retail customers | 26 460 | 7.3 | 24 667 | 6.2 | 24 905 |
| Deposits from corporate and public entities | 18 486 | 7.6 | 17 186 | 11.5 | 16 579 |
| Key figures and alternative performance measures (APMs) | |||||
|---|---|---|---|---|---|
| Q2 2022 | Q2 2021 | 30.06.2022 | 30.06.2021 | 2021 | |
| Return on equity (annualised) 3) 4) | 10.4 | 8.5 | 9.9 | 9.4 | 9.5 |
| Cost/income ratio 4) | 43.3 | 42.9 | 44.7 | 41.3 | 42.2 |
| Losses as a percentage of loans and guarantees (annualised) 4) | -0.05 | 0.16 | -0.02 | 0.12 | 0.07 |
| Gross credit-impaired commitments as a percentage of loans/guarantee liabilities | 0.87 | 1.58 | 0.87 | 1.58 | 1.52 |
| Net credit-impaired commitments as a percentage of loans/guarantee liabilities | 0.57 | 1.24 | 0.57 | 1.24 | 1.16 |
| Deposit-to-loan ratio 4) | 61.9 | 59.7 | 61.9 | 59.7 | 59.6 |
| Liquidity Coverage Ratio (LCR) | 140 | 128 | 140 | 128 | 122 |
| NSFR (Net Stable Funding Ratio) | 127 | 110 | 127 | 110 | 111 |
| Lending growth as a percentage 4) | 2.7 | 2.1 | 4.6 | 6.2 | 4.6 |
| Deposit growth as a percentage 4) | 3.3 | 2.9 | 8.3 | 6.2 | 7.3 |
| Capital adequacy ratio 1) | 22.4 | 20.6 | 22.4 | 20.6 | 20.9 |
| Tier 1 capital ratio 1) | 19.9 | 18.6 | 19.9 | 18.6 | 18.9 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 18.1 | 16.9 | 18.1 | 16.9 | 17.2 |
| Leverage Ratio (LR) 1) | 7.7 | 7.6 | 7.7 | 7.6 | 7.7 |
| Man-years | 371 | 343 | 371 | 343 | 364 |
| Equity Certificates (ECs) | |||||||
|---|---|---|---|---|---|---|---|
| 30.06.2022 | 30.06.2021 | 2021 | 2020 | 2019 | 2018 | ||
| Profit per EC (Group) (NOK) 2) | 3.35 | 15.11 | 31.10 | 27.10 | 34.50 | 29.60 | |
| Profit per EC (parent bank) (NOK) 2) | 4.90 | 20.92 | 30.98 | 26.83 | 32.00 | 28.35 | |
| Number of EC | 49 434 770 | 9 886 954 | 9 886 954 | 9 886 954 | 9 886 954 | 9 886 954 | |
| Nominal value pr EC (NOK) | 20.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |
| EC fraction 1.1 as a percentage (parent bank) | 49.7 | 49.6 | 49.7 | 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) | 74.31 | 368 | 444 | 296 | 317 | 283 | |
| Stock market value (NOK million) | 3 673 | 3 638 | 4 390 | 2 927 | 3 134 | 2 798 | |
| Book value per EC (Group) (NOK) 4) | 70 | 342 | 350 | 332 | 320 | 303 | |
| Dividend per EC (NOK) 5) | 16.00 | 4.50 | 16.00 | 13.50 | 14.00 | 15.50 | |
| Price/Earnings (Group, annualised) | 11.1 | 12.2 | 14.3 | 10.9 | 9.2 | 9.6 | |
| Price/Book value (P/B) (Group) 2) 4) | 1.05 | 1.07 | 1.27 | 0.89 | 0.99 | 0.93 | |
| 1) Incl. 50 % of the comprehensive income | |||||||
| 2) Calculated using the EC-holders' share (49.7 %) 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 | |||||||
| 5) Our EC(MORG) was split 1:5 in April 2022. The restated dividend per EC is thus NOK 3.20 | |||||||