Back
Financial highlights - Group
| Income statement | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||||||
| Q2 2023 | Q2 2022 | 30.06.2023 | 30.06.2022 | 2022 | ||||||
| NOK million | % | NOK million | % | NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 462 | 1.94 | 353 | 1.65 | 907 | 1.96 | 687 | 1.64 | 1 517 | 1.78 |
| Net commission and other operating income | 60 | 0.25 | 59 | 0.28 | 115 | 0.25 | 114 | 0.27 | 246 | 0.29 |
| Net result from financial instruments | 21 | 0.09 | -10 | -0.05 | 21 | 0.04 | -12 | -0.03 | -7 | -0.01 |
| Total income | 543 | 2.28 | 402 | 1.88 | 1 043 | 2.25 | 789 | 1.88 | 1 756 | 2.06 |
| Total operating costs | 211 | 0.89 | 174 | 0.82 | 409 | 0.88 | 352 | 0.84 | 747 | 0.87 |
| Profit before impairment on loans | 332 | 1.39 | 228 | 1.06 | 634 | 1.37 | 437 | 1.04 | 1 009 | 1.19 |
| Impairment on loans, guarantees etc. | -3 | -0.01 | -8 | -0.04 | 30 | 0.07 | -8 | -0.02 | -4 | 0.00 |
| Pre-tax profit | 335 | 1.40 | 236 | 1.10 | 604 | 1.30 | 445 | 1.06 | 1 013 | 1.19 |
| Taxes | 80 | 0.33 | 53 | 0.25 | 142 | 0.30 | 99 | 0.24 | 236 | 0.28 |
| Profit after tax | 255 | 1.07 | 183 | 0.85 | 462 | 1.00 | 346 | 0.82 | 777 | 0.91 |
| Balance sheet | |||||
|---|---|---|---|---|---|
| (NOK million) | 30.06.2023 | YTD-change 2023 (%) | 31.12.2022 | Change over the last 12 months (%) | 30.06.2022 |
| Total assets 4) | 96 406 | 7.7 | 89 501 | 13.0 | 85 314 |
| Average assets 4) | 92 670 | 8.5 | 85 436 | 10.6 | 83 796 |
| Loans to and receivables from customers | 78 999 | 3.8 | 76 078 | 9.3 | 72 300 |
| Gross loans to retail customers | 52 700 | 3.7 | 50 818 | 7.9 | 48 826 |
| Gross loans to corporate and public entities | 26 645 | 4.2 | 25 575 | 12.0 | 23 789 |
| Deposits from customers | 46 339 | 5.6 | 43 881 | 3.1 | 44 946 |
| Deposits from retail customers | 28 258 | 7.3 | 26 344 | 6.8 | 26 460 |
| Deposits from corporate and public entities | 18 081 | 3.1 | 17 537 | -2.2 | 18 486 |
| Key figures and Alternative Performance Measures (APMs) | |||||
|---|---|---|---|---|---|
| Q2 2023 | Q2 2022 | 30.06.2023 | 30.06.2022 | 2022 | |
| Return on equity (annualised) 3) 4) | 13.6 | 10.4 | 12.2 | 9.9 | 10.9 |
| Cost/income ratio 4) | 38.9 | 43.3 | 39.3 | 44.7 | 42.5 |
| Losses as a percentage of loans and guarantees (annualised) 4) | -0.02 | -0.05 | 0.08 | -0.02 | -0.01 |
| Gross credit-impaired commitments as a percentage of loans/guarantee liabilities | 1.07 | 0.87 | 1.07 | 0.87 | 1.44 |
| Net credit-impaired commitments as a percentage of loans/guarantee liabilities | 0.79 | 0.57 | 0.79 | 0.57 | 1.20 |
| Deposit-to-loan ratio 4) | 58.4 | 61.9 | 58.4 | 61.9 | 57.4 |
| Liquidity Coverage Ratio (LCR) | 183 | 140 | 183 | 140 | 185 |
| NSFR (Net Stable Funding Ratio) | 127 | 127 | 127 | 127 | 123 |
| Lending growth as a percentage 4) | 1.5 | 2.7 | 9.3 | 4.6 | 8.8 |
| Deposit growth as a percentage 4) | 4.8 | 3.3 | 3.1 | 8.3 | 4.8 |
| Capital adequacy ratio 1) | 22.0 | 22.4 | 22.0 | 22.4 | 22.1 |
| Tier 1 capital ratio 1) | 19.4 | 19.9 | 19.4 | 19.9 | 19.7 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 17.6 | 18.1 | 17.6 | 18.1 | 17.9 |
| Leverage Ratio (LR) 1) | 7.4 | 7.7 | 7.4 | 7.7 | 7.6 |
| Man-years | 387 | 371 | 387 | 371 | 374 |
| Equity Certificates (ECs) | |||||||
|---|---|---|---|---|---|---|---|
| 30.06.2023 | 30.06.2022 | 2022 | 2021 | 2020 | 2019 | ||
| Profit per EC (Group) (NOK) 2) 5) | 4.42 | 3.35 | 7.50 | 31.10 | 27.10 | 34.50 | |
| Profit per EC (parent bank) (NOK) 2) 5) | 5.02 | 4.90 | 8.48 | 30.98 | 26.83 | 32.00 | |
| Number of ECs 5) | 49 434 770 | 49 434 770 | 49 434 770 | 9 886 954 | 9 886 954 | 9 886 954 | |
| Nominal value per EC (NOK) 5) | 20.00 | 20.00 | 20.00 | 100.00 | 100.00 | 100.00 | |
| EC fraction 1.1 as a percentage (parent bank) | 49.7 | 49.7 | 49.7 | 49.7 | 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) | 77.20 | 74.31 | 84.41 | 444.00 | 296.00 | 317.00 | |
| Stock market value (NOK million) | 3 816 | 3 673 | 4 173 | 4 390 | 2 927 | 3 134 | |
| Book value per EC (Group) (NOK) 4) 5) | 75.3 | 70.4 | 74.8 | 350 | 332 | 320 | |
| Dividend per EC (NOK) 5) | 4.00 | 16.00 | 4.00 | 16.00 | 13.50 | 14.00 | |
| Price/Earnings (Group, annualised) | 8.7 | 11.1 | 11.3 | 14.3 | 10.9 | 9.2 | |
| Price/Book value (P/B) (Group) 2) 4) | 1.03 | 1.06 | 1.13 | 1.27 | 0.89 | 0.99 | |
| 1) Incl. 50 % of the comprehensive income after tax | |||||||
| 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 www.sbm.no/IR | |||||||
| 5) Our EC(MORG) was split 1:5 in April 2022 | |||||||