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Financial highlights - Group
| Income statement | ||||||||
|---|---|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||||
| Q4 2020 | Q4 2019 | 2020 | 2019 | |||||
| NOK million | % | NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 314 | 1.58 | 339 | 1.79 | 1 228 | 1.57 | 1 314 | 1.79 |
| Net commission and other operating income | 54 | 0.27 | 60 | 0.32 | 211 | 0.27 | 219 | 0.30 |
| Net return on financial investments | 18 | 0.09 | 15 | 0.08 | 74 | 0.09 | 74 | 0.10 |
| Total income | 386 | 1.94 | 414 | 2.19 | 1 513 | 1.93 | 1 607 | 2.19 |
| Total operating costs | 157 | 0.79 | 168 | 0.89 | 630 | 0.80 | 646 | 0.88 |
| Profit before impairment on loans | 229 | 1.15 | 246 | 1.30 | 883 | 1.13 | 961 | 1.31 |
| Impairment on loans, guarantees etc. | 35 | 0.18 | 15 | 0.08 | 149 | 0.19 | 50 | 0.07 |
| Pre-tax profit | 194 | 0.97 | 231 | 1.22 | 734 | 0.94 | 911 | 1.24 |
| Tax | 47 | 0.24 | 41 | 0.21 | 167 | 0.21 | 200 | 0.27 |
| Profit after tax | 147 | 0.73 | 190 | 1.01 | 567 | 0.73 | 711 | 0.97 |
| Statement of financial position | |||
|---|---|---|---|
| (NOK million) | 31.12.2020 | % change during the last 12 months | 31.12.2019 |
| Total assets 4) | 79 486 | 6.2 | 74 875 |
| Average assets 4) | 78 450 | 6.7 | 73 496 |
| Loans to and receivables from customers | 66 850 | 4.4 | 64 029 |
| Gross loans to retail customers | 45 592 | 4.0 | 43 847 |
| Gross loans to corporate and public entities | 21 534 | 5.3 | 20 441 |
| Deposits from customers | 39 023 | 6.0 | 36 803 |
| Deposits from retail customers | 23 366 | 7.8 | 21 685 |
| Deposits from corporate and public entities | 15 657 | 3.6 | 15 118 |
| Key figures and alternative performance measures (APMs) | ||||
|---|---|---|---|---|
| Q4 2020 | Q4 2019 | 2020 | 2019 | |
| Return on equity (annualised) 3) 4) | 9.1 | 11.8 | 8.6 | 11.7 |
| Cost income ratio 4) | 40.6 | 40.6 | 41.6 | 40.2 |
| Losses as a percentage of loans (annualised) 4) | 0.21 | 0.09 | 0.23 | 0.08 |
| Gross credit-impaired commitments as a percentage of loans/guarantees | 1.53 | 1.48 | 1.53 | 1.48 |
| Net credit-impaired commitments as a percentage of loans/guarantees | 1.22 | 1.12 | 1.22 | 1.12 |
| Deposit-to-loan ratio 4) | 58.1 | 57.2 | 58.1 | 57.2 |
| Liquidity Coverage Ratio (LCR) | 138 | 165 | 138 | 165 |
| Lending growth as a percentage 4) | 2.3 | 0.6 | 4.4 | 6.1 |
| Deposit growth as a percentage 4) | -0.8 | 1.8 | 6.0 | 6.9 |
| Capital adequacy ratio 1) | 21.3 | 21.7 | 21.3 | 21.7 |
| Tier 1 capital ratio 1) | 19.2 | 19.5 | 19.2 | 19.5 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 17.5 | 17.7 | 17.5 | 17.7 |
| Leverage Ratio (LR) 1) | 8.0 | 8.1 | 8.0 | 8.1 |
| Man-years | 346 | 357 | 346 | 357 |
| Equity Certificates (ECs) | ||||||
|---|---|---|---|---|---|---|
| 2020 | 2019 | 2018 | 2017 | 2016 | ||
| Profit per EC (Group) (NOK) 2) | 27.10 | 34.50 | 29.60 | 27.70 | 28.80 | |
| Profit per EC (Parent Bank) (NOK) 2) | 26.83 | 32.00 | 28.35 | 27.00 | 29.85 | |
| EC fraction 1.1 as a percentage (Parent Bank) | 49.6 | 49.6 | 49.6 | 49.6 | 49.6 | |
| EC capital (NOK million) | 988.70 | 988.70 | 988.70 | 988.70 | 988.70 | |
| Price at Oslo Stock Exchange (NOK) | 296 | 317 | 283 | 262 | 254 | |
| Stock market value (NOK million) | 2 927 | 3 134 | 2 798 | 2 590 | 2 511 | |
| Book value per EC (Group) (NOK) 4) | 332 | 320 | 303 | 289 | 275 | |
| Dividend per EC (NOK) | 4.50 | 14.00 | 15.50 | 14.00 | 14.00 | |
| Price/Earnings (Group, annualised) | 10.9 | 9.2 | 9.5 | 9.4 | 8.8 | |
| Price/Book value (P/B) (Group) 2) 4) | 0.89 | 0.99 | 0.93 | 0.91 | 0.93 | |
| 1) Including 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 | ||||||