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Financial highlights - Group
| Income statement | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||||||
| Q3 2020 | Q3 2019 | 30.09.2020 | 30.09.2019 | 2019 | ||||||
| NOK million | % | NOK million | % | NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 306 | 1.54 | 351 | 1.91 | 914 | 1.56 | 975 | 1.78 | 1 314 | 1.79 |
| Net commission and other operating income | 53 | 0.27 | 55 | 0.30 | 157 | 0.27 | 159 | 0.30 | 219 | 0.30 |
| Net return on financial investments | 24 | 0.12 | 8 | 0.04 | 56 | 0.09 | 59 | 0.10 | 74 | 0.10 |
| Total income | 383 | 1.93 | 414 | 2.25 | 1 127 | 1.92 | 1 193 | 2.18 | 1 607 | 2.19 |
| Total operating costs | 149 | 0.75 | 161 | 0.87 | 473 | 0.80 | 478 | 0.87 | 646 | 0.88 |
| Profit before impairment on loans | 234 | 1.18 | 253 | 1.38 | 654 | 1.12 | 715 | 1.31 | 961 | 1.31 |
| Impairment on loans, guarantees etc. | 36 | 0.18 | 16 | 0.09 | 114 | 0.19 | 35 | 0.06 | 50 | 0.07 |
| Pre-tax profit | 198 | 1.00 | 237 | 1.29 | 540 | 0.93 | 680 | 1.25 | 911 | 1.24 |
| Tax | 45 | 0.22 | 56 | 0.31 | 120 | 0.20 | 156 | 0.29 | 200 | 0.27 |
| Profit after tax | 153 | 0.78 | 181 | 0.98 | 420 | 0.73 | 524 | 0.96 | 711 | 0.97 |
| Statement of financial position | |||||
|---|---|---|---|---|---|
| (NOK million) | 30.09.2020 | % change YTD 2020 | 31.12.2019 | % change during the last 12 months | 30.09.2019 |
| Total assets 4) | 80 384 | 7.4 | 74 875 | 9.9 | 73 144 |
| Average assets 4) | 78 130 | 6.3 | 73 496 | 7.3 | 72 815 |
| Loans to and receivables from customers | 65 367 | 2.1 | 64 029 | 2.7 | 63 647 |
| Gross loans to retail customers | 45 136 | 2.9 | 43 847 | 3.4 | 43 666 |
| Gross loans to corporate and public entities | 20 555 | 0.6 | 20 441 | 1.6 | 20 234 |
| Deposits from customers | 39 329 | 6.9 | 36 803 | 8.8 | 36 147 |
| Deposits from retail customers | 23 273 | 7.3 | 21 685 | 7.6 | 21 631 |
| Deposits from corporate and public entities | 16 056 | 6.2 | 15 118 | 10.6 | 14 516 |
| Key figures and alternative performance measures (APMs) | |||||
|---|---|---|---|---|---|
| Q3 2020 | Q3 2019 | 30.09.2020 | 30.09.2019 | 2019 | |
| Return on equity (annualised) 3) 4) | 9.4 | 11.8 | 8.6 | 11.6 | 11.7 |
| Cost income ratio 4) | 39.0 | 39.0 | 42.0 | 40.1 | 40.2 |
| Losses as a percentage of loans (annualised) 4) | 0.22 | 0.10 | 0.24 | 0.08 | 0.08 |
| Gross credit-impaired commitments as a percentage of loans/guarantees | 1.80 | 1.43 | 1.80 | 1.43 | 1.48 |
| Net credit-impaired commitments as a percentage of loans/guarantees | 1.31 | 1.07 | 1.31 | 1.07 | 1.12 |
| Deposit-to-loan ratio 4) | 60.2 | 56.8 | 60.2 | 56.8 | 57.5 |
| Liquidity Coverage Ratio (LCR) | 126 | 125 | 126 | 125 | 165 |
| Lending growth as a percentage 4) | 0.4 | 7.2 | 2.7 | 6.7 | 6.1 |
| Deposit growth as a percentage 4) | 0.7 | -3.1 | 8.8 | 4.2 | 6.9 |
| Capital adequacy ratio 1) | 21.4 | 19.0 | 21.4 | 19.0 | 21.7 |
| Tier 1 capital ratio 1) | 19.3 | 17.0 | 19.3 | 17.0 | 19.5 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 17.5 | 15.4 | 17.5 | 15.4 | 17.7 |
| Leverage Ratio (LR) 1) | 7.9 | 8.0 | 7.9 | 8.0 | 8.1 |
| Man-years | 353 | 354 | 353 | 354 | 357 |
| Equity Certificates (ECs) | |||||||
|---|---|---|---|---|---|---|---|
| 30.09.2020 | 30.09.2019 | 2019 | 2018 | 2017 | 2016 | ||
| Profit per EC (Group) (NOK) 2) | 20.00 | 25.60 | 34.50 | 29.60 | 27.70 | 28.80 | |
| Profit per EC (Parent Bank) (NOK) 2) | 22.95 | 25.90 | 32.00 | 28.35 | 27.00 | 29.85 | |
| EC fraction 1.1 as a percentage (Parent Bank) | 49.6 | 49.6 | 49.6 | 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) | 298 | 309 | 317 | 283 | 262 | 254 | |
| Stock market value (NOK million) | 2 946 | 3 055 | 3 134 | 2 798 | 2 590 | 2 511 | |
| Book value per EC (Group) (NOK) 4) | 325 | 313 | 320 | 303 | 289 | 275 | |
| Dividend per EC (NOK) | 14.00 | 15.50 | 14.00 | 15.50 | 14.00 | 14.00 | |
| Price/Earnings (Group, annualised) | 11.1 | 9.1 | 9.2 | 9.5 | 9.4 | 8.8 | |
| Price/Book value (P/B) (Group) 2) 4) | 0.91 | 0.99 | 0.99 | 0.93 | 0.91 | 0.93 | |
| 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 | |||||||