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Financial highlights - Group
| Income statement | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||||||
| Q2 2024 | Q2 2023 | 30.06.2024 | 30.06.2023 | 2023 | ||||||
| NOK million | % | NOK million | % | NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 518 | 2.12 | 462 | 1.94 | 1 026 | 2.09 | 907 | 1.96 | 1 900 | 2.02 |
| Net commission and other operating income | 70 | 0.28 | 60 | 0.25 | 124 | 0.25 | 115 | 0.25 | 250 | 0.26 |
| Net result from financial instruments | 20 | 0.08 | 21 | 0.09 | 36 | 0.08 | 21 | 0.04 | 45 | 0.05 |
| Total income | 608 | 2.48 | 543 | 2.28 | 1 186 | 2.42 | 1 043 | 2.25 | 2 195 | 2.33 |
| Total operating expenses | 249 | 1.02 | 211 | 0.89 | 477 | 0.97 | 409 | 0.88 | 859 | 0.91 |
| Profit before impairment on loans | 359 | 1.46 | 332 | 1.39 | 709 | 1.45 | 634 | 1.37 | 1 336 | 1.42 |
| Impairment on loans, guarantees etc. | -35 | -0.14 | -3 | -0.01 | -18 | -0.04 | 30 | 0.07 | -53 | -0.06 |
| Pre-tax profit | 394 | 1.60 | 335 | 1.40 | 727 | 1.49 | 604 | 1.30 | 1 389 | 1.48 |
| Taxes | 93 | 0.38 | 80 | 0.33 | 172 | 0.35 | 142 | 0.30 | 334 | 0.35 |
| Profit after tax | 301 | 1.22 | 255 | 1.07 | 555 | 1.14 | 462 | 1.00 | 1 055 | 1.13 |
| Balance sheet | |||||
|---|---|---|---|---|---|
| (NOK million) | 30.06.2024 | YTD-change 2024 (%) | 31.12.2023 | Change last 12 months (%) | 30.06.2023 |
| Total assets 4) | 99 847 | 3.2 | 96 735 | 3.6 | 96 406 |
| Average assets 4) | 98 122 | 4.3 | 94 095 | 5.9 | 92 670 |
| Loans to and receivables from customers | 85 076 | 4.3 | 81 572 | 7.7 | 78 999 |
| Gross loans to retail customers | 55 972 | 4.0 | 53 795 | 6.2 | 52 700 |
| Gross loans to corporate and public entities | 29 340 | 4.6 | 28 039 | 10.1 | 26 645 |
| Deposits from customers | 49 240 | 3.9 | 47 410 | 6.3 | 46 339 |
| Deposits from retail customers | 30 920 | 5.8 | 29 226 | 9.4 | 28 258 |
| Deposits from corporate and public entities | 18 320 | 0.7 | 18 184 | 1.3 | 18 081 |
| Key figures and Alternative Performance Measures (APMs) | |||||
|---|---|---|---|---|---|
| Q2 2024 | Q2 2023 | 30.06.2024 | 30.06.2023 | 2023 | |
| Return on equity (annualised) 3) 4) | 15.1 | 13.6 | 14.1 | 12.2 | 14.0 |
| Cost/income ratio 4) | 41.0 | 38.9 | 40.3 | 39.3 | 39.2 |
| Losses as a percentage of loans and guarantees (annualised) 4) | -0.17 | -0.02 | -0.04 | 0.08 | -0.07 |
| Gross credit-impaired commitments as a percentage of loans/guarantee liabilities | 0.51 | 1.07 | 0.51 | 1.07 | 0.51 |
| Net credit-impaired commitments as a percentage of loans/guarantee liabilities | 0.39 | 0.79 | 0.39 | 0.79 | 0.39 |
| Deposit-to-loan ratio 4) | 57.7 | 58.4 | 57.7 | 58.4 | 57.9 |
| Liquidity Coverage Ratio (LCR) | 156 | 183 | 156 | 183 | 174 |
| NSFR (Net Stable Funding Ratio) | 122 | 127 | 122 | 127 | 124 |
| Lending growth as a percentage 4) | 2.2 | 1.5 | 7.7 | 9.3 | 7.2 |
| Deposit growth as a percentage 4) | 2.2 | 4.8 | 6.3 | 3.1 | 8.0 |
| Capital adequacy ratio 1) | 23.4 | 22.0 | 23.4 | 22.0 | 22.2 |
| Tier 1 capital ratio 1) | 21.1 | 19.4 | 21.1 | 19.4 | 20.0 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 19.1 | 17.6 | 19.1 | 17.6 | 18.2 |
| Leverage Ratio (LR) 1) | 7.7 | 7.4 | 7.7 | 7.4 | 7.5 |
| Man-years | 412 | 387 | 412 | 387 | 400 |
| Equity Certificates (ECs) | |||||||
|---|---|---|---|---|---|---|---|
| 30.06.2024 | 30.06.2023 | 2023 | 2022 | 2021 | 2020 | ||
| Profit per EC (Group) (NOK) 2) 5) | 5.26 | 4.42 | 10.12 | 7.50 | 31.10 | 27.10 | |
| Profit per EC (parent bank) (NOK) 2) 5) | 5.69 | 5.02 | 10.34 | 8.48 | 30.98 | 26.83 | |
| Number of ECs 5) | 49 434 770 | 49 434 770 | 49 434 770 | 49 434 770 | 9 886 954 | 9 886 954 | |
| Nominal value per EC (NOK) 5) | 20.00 | 20.00 | 20.00 | 20.00 | 100.00 | 100.00 | |
| EC fraction 1.1 as a percentage (parent bank) | 49.7 | 49.7 | 49.7 | 49.7 | 49.7 | 49.6 | |
| EC capital (NOK million) | 988.70 | 988.70 | 988.70 | 988.70 | 988.70 | 988.70 | |
| Price at Oslo Stock Exchange (NOK) | 84.5 | 77.2 | 84.0 | 84.4 | 444 | 296 | |
| Stock market value (NOK million) | 4 177 | 3 816 | 4 153 | 4 173 | 4 390 | 2 927 | |
| Book value per EC (Group) (NOK) 4) 5) | 78.4 | 75.3 | 80.7 | 74.8 | 350 | 332 | |
| Dividend per EC (NOK) 5) | 7.50 | 4.00 | 7.50 | 4.00 | 16.00 | 13.50 | |
| Price/Earnings (Group, annualised) | 8.0 | 8.7 | 8.3 | 11.3 | 14.3 | 10.9 | |
| Price/Book value (P/B) (Group) 2) 4) | 1.08 | 1.03 | 1.04 | 1.13 | 1.27 | 0.89 | |
| 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 | |||||||