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Financial highlights - Group
| Income statement | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||||||
| Q2 2025 | Q2 2024 | 30.06.2025 | 30.06.2024 | 2024 | ||||||
| NOK million | % | NOK million | % | NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 503 | 1.90 | 518 | 2.12 | 988 | 1.88 | 1 026 | 2.09 | 2 071 | 2.08 |
| Net commission and other operating income | 87 | 0.32 | 70 | 0.28 | 154 | 0.29 | 124 | 0.25 | 287 | 0.29 |
| Net result from financial instruments | 13 | 0.05 | 20 | 0.08 | 28 | 0.06 | 36 | 0.08 | 43 | 0.04 |
| Total income | 603 | 2.27 | 608 | 2.48 | 1 170 | 2.23 | 1 186 | 2.42 | 2 401 | 2.41 |
| Total operating expenses | 252 | 0.95 | 249 | 1.02 | 504 | 0.96 | 477 | 0.97 | 955 | 0.96 |
| Profit before impairment on loans | 351 | 1.32 | 359 | 1.46 | 666 | 1.27 | 709 | 1.45 | 1 446 | 1.45 |
| Impairment on loans, guarantees etc. | 34 | 0.13 | -35 | -0.14 | 47 | 0.09 | -18 | -0.04 | 20 | 0.02 |
| Pre-tax profit | 317 | 1.19 | 394 | 1.60 | 619 | 1.18 | 727 | 1.49 | 1 426 | 1.43 |
| Taxes | 74 | 0.27 | 93 | 0.38 | 144 | 0.27 | 172 | 0.35 | 340 | 0.34 |
| Profit after tax | 243 | 0.92 | 301 | 1.22 | 475 | 0.91 | 555 | 1.14 | 1 086 | 1.09 |
| Balance sheet | |||||
|---|---|---|---|---|---|
| (NOK million) | 30.06.2025 | Change last three months (%) | 31.12.2024 | Change last twelve months (%) | 30.06.2024 |
| Total assets 4) | 110 978 | 8.4 | 102 335 | 11.1 | 99 847 |
| Average assets 4) | 104 958 | 5.2 | 99 776 | 7.0 | 98 122 |
| Loans to and receivables from customers | 89 447 | 3.0 | 86 875 | 5.1 | 85 076 |
| Gross loans to retail customers | 59 257 | 2.4 | 57 872 | 5.9 | 55 972 |
| Gross loans to corporate and public entities | 30 482 | 4.2 | 29 255 | 3.9 | 29 340 |
| Deposits from customers | 52 442 | 5.8 | 49 550 | 6.5 | 49 240 |
| Deposits from retail customers | 32 095 | 6.5 | 30 149 | 3.8 | 30 920 |
| Deposits from corporate and public entities | 20 347 | 4.9 | 19 401 | 11.1 | 18 320 |
| Key figures and Alternative Performance Measures (APMs) | |||||
|---|---|---|---|---|---|
| Q2 2025 | Q2 2024 | 30.06.2025 | 30.06.2024 | 2024 | |
| Return on equity (annualised) 3) 4) | 11.7 | 15.1 | 11.5 | 14.1 | 13.7 |
| Cost/income ratio 4) | 41.8 | 41.0 | 43.1 | 40.3 | 39.8 |
| Losses as a percentage of loans and guarantees (annualised) 4) | 0.15 | -0.17 | 0.10 | -0.04 | 0.02 |
| Gross credit-impaired commitments as a percentage of loans/guarantee liabilities | 0.47 | 0.51 | 0.47 | 0.51 | 0.58 |
| Net credit-impaired commitments as a percentage of loans/guarantee liabilities | 0.33 | 0.39 | 0.33 | 0.39 | 0.45 |
| Deposit-to-loan ratio 4) | 58.4 | 57.7 | 58.4 | 57.7 | 56.9 |
| Liquidity Coverage Ratio (LCR) | 207 | 156 | 207 | 156 | 167 |
| NSFR (Net Stable Funding Ratio) | 125 | 122 | 125 | 122 | 122 |
| Lending growth as a percentage 4) | 0.8 | 2.2 | 5.1 | 7.7 | 6.5 |
| Deposit growth as a percentage 4) | 2.3 | 2.2 | 6.5 | 6.3 | 4.5 |
| Capital adequacy ratio 1) | 24.5 | 23.4 | 24.5 | 23.4 | 21.1 |
| Tier 1 capital ratio 1) | 22.1 | 21.1 | 22.1 | 21.1 | 19.0 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 20.1 | 19.1 | 20.1 | 19.1 | 17.2 |
| Leverage Ratio (LR) 1) | 7.1 | 7.7 | 7.1 | 7.7 | 7.4 |
| Man-years | 397 | 412 | 397 | 412 | 402 |
| Equity Certificates (ECs) | |||||||
|---|---|---|---|---|---|---|---|
| 30.06.2025 | 30.06.2024 | 2024 | 2023 | 2022 | 2021 | ||
| Profit per EC (Group) (NOK) 2) 5) | 4.39 | 5.26 | 9.95 | 10.12 | 7.50 | 31.10 | |
| Profit per EC (parent bank) (NOK) 2) 5) | 5.19 | 5.69 | 9.55 | 10.34 | 8.48 | 30.98 | |
| Number of ECs 5) | 49 795 520 | 49 434 770 | 49 795 520 | 49 434 770 | 49 434 770 | 9 886 954 | |
| Nominal value per EC (NOK) 5) | 20.00 | 20.00 | 20.00 | 20.00 | 20.00 | 100.00 | |
| EC fraction 1.1 as a percentage (parent bank) | 49.1 | 49.7 | 49.1 | 49.7 | 49.7 | 49.7 | |
| EC capital (NOK million) | 995.90 | 988.70 | 995.90 | 988.70 | 988.70 | 988.70 | |
| Price at Oslo Stock Exchange (NOK) | 106.9 | 84.5 | 97.0 | 84.0 | 84.4 | 444 | |
| Stock market value (NOK million) | 5 323 | 4 177 | 4 830 | 4 153 | 4 173 | 4 390 | |
| Book value per EC (Group) (NOK) 4) 5) | 79.9 | 78.4 | 81.5 | 80.7 | 74.8 | 350 | |
| Dividend per EC (NOK) 5) | 6.25 | 7.50 | 6.25 | 7.50 | 4.00 | 16.00 | |
| Price/Earnings (Group, annualised) | 12.2 | 8.0 | 9.8 | 8.3 | 11.3 | 14.3 | |
| Price/Book value (P/B) (Group) 2) 4) | 1.34 | 1.08 | 1.19 | 1.04 | 1.13 | 1.27 | |
| 1) Incl. 50 % of the comprehensive income after tax | |||||||
| 2) Calculated using the EC-holders' share 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 | |||||||