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Financial highlights - Group
| Income statement | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||||||
| Q3 2023 | Q3 2022 | 30.09.2023 | 30.09.2022 | 2022 | ||||||
| NOK million | % | NOK million | % | NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 487 | 2.05 | 398 | 1.87 | 1 394 | 1.99 | 1 085 | 1.72 | 1 517 | 1.78 |
| Net commission and other operating income | 65 | 0.28 | 65 | 0.30 | 180 | 0.26 | 179 | 0.28 | 246 | 0.29 |
| Net result from financial instruments | 23 | 0.10 | -30 | -0.14 | 44 | 0.06 | -42 | -0.07 | -7 | -0.01 |
| Total income | 575 | 2.43 | 433 | 2.03 | 1 618 | 2.31 | 1 222 | 1.93 | 1 756 | 2.06 |
| Total operating expenses | 208 | 0.88 | 179 | 0.84 | 617 | 0.88 | 531 | 0.84 | 747 | 0.87 |
| Profit before impairment on loans | 367 | 1.55 | 254 | 1.19 | 1 001 | 1.43 | 691 | 1.09 | 1 009 | 1.19 |
| Impairment on loans, guarantees etc. | 34 | 0.14 | 2 | 0.01 | 64 | 0.09 | -6 | -0.01 | -4 | 0.00 |
| Pre-tax profit | 333 | 1.41 | 252 | 1.18 | 937 | 1.34 | 697 | 1.10 | 1 013 | 1.19 |
| Taxes | 80 | 0.34 | 63 | 0.29 | 222 | 0.32 | 162 | 0.25 | 236 | 0.28 |
| Profit after tax | 253 | 1.07 | 189 | 0.89 | 715 | 1.02 | 535 | 0.85 | 777 | 0.91 |
| Balance sheet | |||||
|---|---|---|---|---|---|
| (NOK million) | 30.09.2023 | YTD-change 2023 (%) | 31.12.2022 | Change over the last 12 months (%) | 30.09.2022 |
| Total assets 4) | 94 675 | 5.8 | 89 501 | 8.0 | 87 634 |
| Average assets 4) | 93 394 | 9.3 | 85 436 | 10.8 | 84 278 |
| Loans to and receivables from customers | 79 739 | 4.8 | 76 078 | 8.2 | 73 689 |
| Gross loans to retail customers | 53 267 | 4.8 | 50 818 | 7.0 | 49 799 |
| Gross loans to corporate and public entities | 26 851 | 5.0 | 25 575 | 10.9 | 24 209 |
| Deposits from customers | 46 653 | 6.3 | 43 881 | 4.4 | 44 686 |
| Deposits from retail customers | 28 489 | 8.1 | 26 344 | 9.4 | 26 051 |
| Deposits from corporate and public entities | 18 164 | 3.6 | 17 537 | -2.5 | 18 635 |
| Key figures and Alternative Performance Measures (APMs) | |||||
|---|---|---|---|---|---|
| Q3 2023 | Q3 2022 | 30.09.2023 | 30.09.2022 | 2022 | |
| Return on equity (annualised) 3) 4) | 13.1 | 10.5 | 12.5 | 10.1 | 10.9 |
| Cost/income ratio 4) | 36.2 | 41.4 | 38.1 | 43.5 | 42.5 |
| Losses as a percentage of loans and guarantees (annualised) 4) | 0.17 | 0.01 | 0.11 | -0.01 | -0.01 |
| Gross credit-impaired commitments as a percentage of loans/guarantee liabilities | 1.02 | 1.03 | 1.02 | 1.03 | 1.44 |
| Net credit-impaired commitments as a percentage of loans/guarantee liabilities | 0.74 | 0.73 | 0.74 | 0.73 | 1.20 |
| Deposit-to-loan ratio 4) | 58.2 | 60.4 | 58.2 | 60.4 | 57.4 |
| Liquidity Coverage Ratio (LCR) | 176 | 152 | 176 | 152 | 185 |
| NSFR (Net Stable Funding Ratio) | 123 | 125 | 123 | 125 | 123 |
| Lending growth as a percentage 4) | 0.9 | 1.9 | 8.2 | 6.1 | 8.8 |
| Deposit growth as a percentage 4) | 0.7 | -0.6 | 4.4 | 9.6 | 4.8 |
| Capital adequacy ratio 1) | 22.5 | 22.5 | 22.5 | 22.5 | 22.1 |
| Tier 1 capital ratio 1) | 19.9 | 20.1 | 19.9 | 20.1 | 19.7 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 18.1 | 18.2 | 18.1 | 18.2 | 17.9 |
| Leverage Ratio (LR) 1) | 7.5 | 7.6 | 7.5 | 7.6 | 7.6 |
| Man-years | 390 | 380 | 390 | 380 | 374 |
| Equity Certificates (ECs) | |||||||
|---|---|---|---|---|---|---|---|
| 30.09.2023 | 30.09.2022 | 2022 | 2021 | 2020 | 2019 | ||
| Profit per EC (Group) (NOK) 2) 5) | 6.84 | 5.17 | 7.50 | 31.10 | 27.10 | 34.50 | |
| Profit per EC (parent bank) (NOK) 2) 5) | 7.27 | 6.31 | 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) | 77.50 | 70.00 | 84.41 | 444.00 | 296.00 | 317.00 | |
| Stock market value (NOK million) | 3 831 | 3 460 | 4 173 | 4 390 | 2 927 | 3 134 | |
| Book value per EC (Group) (NOK) 4) 5) | 77.6 | 72.4 | 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) | 8.5 | 10.2 | 11.3 | 14.3 | 10.9 | 9.2 | |
| Price/Book value (P/B) (Group) 2) 4) | 1.00 | 0.97 | 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 | |||||||