Financial highlights - Group

Income statement        
(Amounts in percentage of average assets)
 Q4 2019Q4 201820192018
 NOK million%NOK million%NOK million%NOK million%
Net interest income3391.793091.761 3141.791 1791.70
Net commission and other operating income600.32520.292190.302070.30
Net return on financial investments150.0840.03740.10410.06
Total income4142.193652.081 6072.191 4272.06
Total operating costs1680.891560.896460.886070.87
Profit before impairment on loans2461.302091.199611.318201.19
Impairment on loans, guarantees etc.150.08120.07500.07160.02
Pre-tax profit2311.221971.129111.248041.17
Profit after tax1901.011370.787110.976010.88
Statement of financial position
(NOK million)31.12.2019% change YTD 201931.12.2018
Total assets 4)74 8755.471 040
Average assets 4)73 4965.969 373
Loans to and receivables from customers64 0296.160 346
Gross loans to retail customers43 8154.541 917
Gross loans to corporate and public entities20 4419.818 616
Deposits from customers36 8036.934 414
Deposits from retail customers21 6855.120 624
Deposits from corporate and public entities15 1189.613 790
Key figures and alternative performance measures (APMs)
 Q4 2019Q4 201820192018
Return on equity (annualised) 3) 4)11.89.511.710.6
Cost income ratio 4)40.642.740.242.5
Losses as a percentage of loans, guarantees etc. (annualised) 4)
Gross problem loans as a percentage of loans, guarantees etc.1.490.621.490.62
Net problem loans as a percentage of loans, guarantees etc.1.140.461.140.46
Deposit-to-loan ratio 4)57.557.057.557.0
Liquidity Coverage Ratio (LCR)165158165158
Lending growth as a percentage 4)
Deposit growth as a percentage 4)1.8-
Capital adequacy ratio 1)21.519.621.519.6
Tier 1 capital ratio 1)19.317.619.317.6
Common Equity Tier 1 capital ratio (CET1) 1)17.416.017.416.0
Leverage Ratio (LR) 1)
Equity Certificates (ECs)     
Profit per EC (Group) (NOK) 2)34.5029.6027.7028.8025.25
Profit per EC (Parent Bank) (NOK) 2)32.0028.3527.0029.8525.70
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)317283262254188
Stock market value (NOK million)3 1342 7982 5902 5111 859
Book value per EC (Group) (NOK) 4)320303289275257
Dividend per EC (NOK)17.5015.5014.0014.0011.50
Price/Earnings (Group, annualised)
Price/Book value (P/B) (Group) 2) 4)0.990.930.910.930.73
1) Incl. proposed allocations
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.