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Financial highlights - Group
| Income statement | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||||||
| Q3 2024 | Q3 2023 | 30.09.2024 | 30.09.2023 | 2023 | ||||||
| NOK million | % | NOK million | % | NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 523 | 2.08 | 487 | 2.05 | 1 549 | 2.09 | 1 394 | 1.99 | 1 900 | 2.02 |
| Net commission and other operating income | 80 | 0.32 | 65 | 0.28 | 204 | 0.27 | 180 | 0.26 | 250 | 0.26 |
| Net result from financial instruments | 23 | 0.09 | 23 | 0.10 | 59 | 0.08 | 44 | 0.06 | 45 | 0.05 |
| Total income | 626 | 2.49 | 575 | 2.43 | 1 812 | 2.44 | 1 618 | 2.31 | 2 195 | 2.33 |
| Total operating expenses | 243 | 0.96 | 208 | 0.88 | 720 | 0.97 | 617 | 0.88 | 859 | 0.91 |
| Profit before impairment on loans | 383 | 1.53 | 367 | 1.55 | 1 092 | 1.47 | 1 001 | 1.43 | 1 336 | 1.42 |
| Impairment on loans, guarantees etc. | 17 | 0.07 | 34 | 0.14 | -1 | 0.00 | 64 | 0.09 | -53 | -0.06 |
| Pre-tax profit | 366 | 1.46 | 333 | 1.41 | 1 093 | 1.47 | 937 | 1.34 | 1 389 | 1.48 |
| Taxes | 86 | 0.35 | 80 | 0.34 | 258 | 0.34 | 222 | 0.32 | 334 | 0.35 |
| Profit after tax | 280 | 1.11 | 253 | 1.07 | 835 | 1.13 | 715 | 1.02 | 1 055 | 1.13 |
| Balance sheet | |||||
|---|---|---|---|---|---|
| (NOK million) | 30.09.2024 | YTD-change 2024 (%) | 31.12.2023 | Change last 12 months (%) | 30.09.2023 |
| Total assets 4) | 106 889 | 10.5 | 96 735 | 12.9 | 94 675 |
| Average assets 4) | 98 926 | 5.1 | 94 095 | 5.9 | 93 394 |
| Loans to and receivables from customers | 86 272 | 5.8 | 81 572 | 8.2 | 79 739 |
| Gross loans to retail customers | 57 001 | 6.0 | 53 795 | 7.0 | 53 267 |
| Gross loans to corporate and public entities | 29 516 | 5.3 | 28 039 | 9.9 | 26 851 |
| Deposits from customers | 49 203 | 3.8 | 47 410 | 5.5 | 46 653 |
| Deposits from retail customers | 30 277 | 3.6 | 29 226 | 6.3 | 28 489 |
| Deposits from corporate and public entities | 18 926 | 4.1 | 18 184 | 4.2 | 18 164 |
| Key figures and Alternative Performance Measures (APMs) | |||||
|---|---|---|---|---|---|
| Q3 2024 | Q3 2023 | 30.09.2024 | 30.09.2023 | 2023 | |
| Return on equity (annualised) 3) 4) | 13.8 | 13.1 | 14.0 | 12.5 | 14.0 |
| Cost/income ratio 4) | 38.7 | 36.2 | 39.7 | 38.1 | 39.2 |
| Losses as a percentage of loans and guarantees (annualised) 4) | 0.08 | 0.17 | 0.00 | 0.11 | -0.07 |
| Gross credit-impaired commitments as a percentage of loans/guarantee liabilities | 0.53 | 1.02 | 0.53 | 1.02 | 0.51 |
| Net credit-impaired commitments as a percentage of loans/guarantee liabilities | 0.41 | 0.74 | 0.41 | 0.74 | 0.39 |
| Deposit-to-loan ratio 4) | 56.9 | 58.2 | 56.9 | 58.2 | 57.9 |
| Liquidity Coverage Ratio (LCR) | 165 | 176 | 165 | 176 | 174 |
| NSFR (Net Stable Funding Ratio) | 121 | 123 | 121 | 123 | 124 |
| Lending growth as a percentage 4) | 1.4 | 0.9 | 8.2 | 8.2 | 7.2 |
| Deposit growth as a percentage 4) | -0.1 | 0.7 | 5.5 | 4.4 | 8.0 |
| Capital adequacy ratio 1) | 21.3 | 22.5 | 21.3 | 22.5 | 22.2 |
| Tier 1 capital ratio 1) | 19.2 | 19.9 | 19.2 | 19.9 | 20.0 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 17.3 | 18.1 | 17.3 | 18.1 | 18.2 |
| Leverage Ratio (LR) 1) | 7.3 | 7.5 | 7.3 | 7.5 | 7.5 |
| Man-years | 409 | 390 | 409 | 390 | 400 |
| Equity Certificates (ECs) | |||||||
|---|---|---|---|---|---|---|---|
| 30.09.2024 | 30.09.2023 | 2023 | 2022 | 2021 | 2020 | ||
| Profit per EC (Group) (NOK) 2) 5) | 7.92 | 6.84 | 10.12 | 7.50 | 31.10 | 27.10 | |
| Profit per EC (parent bank) (NOK) 2) 5) | 7.90 | 7.27 | 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) | 83.6 | 77.50 | 84.0 | 84.4 | 444 | 296 | |
| Stock market value (NOK million) | 4 130 | 3 831 | 4 153 | 4 173 | 4 390 | 2 927 | |
| Book value per EC (Group) (NOK) 4) 5) | 81.0 | 77.6 | 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) | 7.9 | 8.5 | 8.3 | 11.3 | 14.3 | 10.9 | |
| Price/Book value (P/B) (Group) 2) 4) | 1.03 | 1.00 | 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 | |||||||