Financial highlights Group

Income statement        
 Q4 2018Q4 201720182017
 NOK million%NOK million%NOK million%NOK million%
Net interest income3091.762901.761 1791.701 1001.72
Net commission and other operating income520.29510.312070.301940.30
Net return from financial investments40.0370.04410.06480.08
Total income3652.083482.111 4272.061 3422.10
Total operating costs1520.861440.886030.875900.92
Profit before impairment on loans2131.222041.238241.197521.18
Impairment on loans, guarantees etc.120.07-1-0.01160.02130.02
Pre-tax profit2011.152051.248081.177391.16
Profit after tax1410.811570.956050.885570.88
Statement of financial position   
(NOK million)31.12.2018% change during last 12 months31.12.2017
Total assets71 0746.966 491
Average assets69 3738.464 000
Loans to and receivables from customers60 3466.156 867
Gross loans to retail customers41 9175.339 817
Gross loans to corporate and public entities18 6168.417 168
Deposits from customers34 4144.932 803
Deposits from retail customers20 6244.819 688
Deposits from corporate and public entities13 7905.313 101
Key figures    
 Q4 2018Q4 201720182017
Return on equity (annualised) 4)9.711.510.610.4
Cost income ratio41.641.742.344.0
Losses as a percentage of loans (annualised)0.08-
Gross problem loans as a percentage of loans0.620.570.620.57
Net problem loans as a percentage of loans0.460.400.460.40
Deposit-to-loan ratio57.057.757.057.7
Liquidity Coverage Ratio (LCR)158159158159
Lending growth as a percentage1.
Deposit growth as a percentage-0.8-
Capital adequacy ratio 1) 2)19.618.419.618.4
Tier 1 capital ratio 1) 2)17.616.817.616.8
Common Equity Tier 1 capital ratio (CET1) 1) 2)
Leverage Ratio (LR) 2)
Equity Certificates (ECs)     
Profit per EC (Group) (NOK) 3)29.8027.7028.8025.2531.20
Profit per EC (Parent Bank) (NOK) 3)28.3527.0029.8525.7029.10
EC fraction 1.1 as a percentage (Parent Bank)49.649.649.649.649.6
EC capital (NOK million)988.70988.70988.70988.70988.70
Price at Oslo Stock Exchange (NOK)283262254188216
Stock market value (NOK million)2 7982 5902 5111 8592 136
Book value per EC (Group, incl. dividend) (NOK)303289275257244
Dividend per EC (NOK)15.5014.0014.0011.5013.50
Price/Earnings (Group, annualised)
Price/Book value (P/B) (Group) 3)0.930.910.930.730.89
1) Calculated according to IRB in Basel II incl. transitional rule in Basel I. IRB for mass market from 31st March 2015 and IRB Foundation for corporate commitments from 30th June 2014.
2) Incl. proposed allocations
3) Calculated using the EC-holders' share (49.6 %) of the period's profit to be allocated to equity owners.
4) Calculated using the share of the profit to be allocated to equity owners.