STATEMENT OF INCOME - GROUP (COMPRESSED) | | | | | |
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(NOK million) | Note | Q4 2018 | Q4 2017 | 2018 | 2017 |
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Interest income from assets at amortised cost | | 468 | 418 | 1 769 | 1 623 |
Interest income from assets at fair value | | 46 | 37 | 171 | 164 |
Interest expenses | | 205 | 165 | 761 | 687 |
Net interest income | 9 | 309 | 290 | 1 179 | 1 100 |
Commission income and revenues from banking services | | 50 | 50 | 208 | 196 |
Commission costs and charges from banking services | | 5 | 6 | 25 | 26 |
Other operating income | | 7 | 7 | 24 | 24 |
Net commission and other operating income | | 52 | 51 | 207 | 194 |
Dividends | | 0 | 0 | 3 | 2 |
Net gains/losses from financial instruments | 5 | 4 | 7 | 38 | 46 |
Net return from financial instruments | | 4 | 7 | 41 | 48 |
Total income | | 365 | 348 | 1 427 | 1 342 |
Wages, salaries etc. | | 86 | 82 | 340 | 335 |
Administration costs | | 34 | 30 | 133 | 128 |
Depreciation and impairment | | 8 | 7 | 31 | 31 |
Other operating costs | | 24 | 25 | 99 | 96 |
Total operating costs | | 152 | 144 | 603 | 590 |
Profit before impairment on loans | | 213 | 204 | 824 | 752 |
Impairment on loans, guarantees etc. | 3 | 12 | -1 | 16 | 13 |
Pre-tax profit | | 201 | 205 | 808 | 739 |
Taxes | | 60 | 48 | 203 | 182 |
Profit after tax | | 141 | 157 | 605 | 557 |
Allocated to equity owners | | 139 | 154 | 594 | 551 |
Allocated to owners of Additional Tier 1 capital | | 2 | 3 | 11 | 6 |
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Profit per EC (NOK) 1) | | 7.00 | 7.70 | 29.80 | 27.70 |
Diluted earnings per EC (NOK) 1) | | 7.00 | 7.70 | 29.80 | 27.70 |
Distributed dividend per EC (NOK) | | 0.00 | 0.00 | 14.00 | 14.00 |
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STATEMENT OF COMPREHENSIVE INCOME - GROUP (COMPRESSED) | | | | | |
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(NOK million) | | Q4 2018 | Q4 2017 | 2018 | 2017 |
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Profit after tax | | 141 | 157 | 605 | 557 |
Items that may subsequently be reclassified to the income statement: | | | | | |
Equities available for sale - changes in value 2) | | | 21 | | 27 |
Basis swap spreads - changes in value 3) | | -8 | | -18 | |
Tax effect of changes in value on basis swap spreads | | 2 | | 4 | |
Items that will not be reclassified to the income statement: | | | | | |
Pension estimate deviations | | 12 | -12 | 12 | -12 |
Tax effect of pension estimate deviations | | -3 | 3 | -3 | 3 |
Total comprehensive income after tax | | 144 | 169 | 600 | 575 |
Allocated to equity owners | | 142 | 166 | 589 | 569 |
Allocated to owners of Additional Tier 1 capital | | 2 | 3 | 11 | 6 |
1) Calculated using the EC-holders' share (49.6 %) of the period's profit to be allocated to equity owners. | |
2) The category Available for sale does not exist in IFRS 9. Shares and other securities are as of 1 January 2018 assessed at fair value with any changes in value recognised in the income statement under Net gains/losses from financial instruments. |
3) Changes in value on the Group's basis swaps inherent in hedging instruments, have up to 31.12.2017 been recognised in the income statement. As of 01.01.2018, changes in value on basis swaps due to changes in basis swap spreads, will be recognised in OCI as a cost of hedging. |