Financial highlights - Group

Income statement        
(Amounts in percentage of average assets)
 Q4 2020Q4 201920202019
 NOK million%NOK million%NOK million%NOK million%
Net interest income3141.583391.791 2281.571 3141.79
Net commission and other operating income540.27600.322110.272190.30
Net return on financial investments180.09150.08740.09740.10
Total income3861.944142.191 5131.931 6072.19
Total operating costs1570.791680.896300.806460.88
Profit before impairment on loans2291.152461.308831.139611.31
Impairment on loans, guarantees etc.350.18150.081490.19500.07
Pre-tax profit1940.972311.227340.949111.24
Profit after tax1470.731901.015670.737110.97
Statement of financial position
(NOK million)31.12.2020% change during the last 12 months31.12.2019
Total assets 4)79 4866.274 875
Average assets 4)78 4506.773 496
Loans to and receivables from customers66 8504.464 029
Gross loans to retail customers45 5924.043 847
Gross loans to corporate and public entities21 5345.320 441
Deposits from customers39 0236.036 803
Deposits from retail customers23 3667.821 685
Deposits from corporate and public entities15 6573.615 118
Key figures and alternative performance measures (APMs)
 Q4 2020Q4 201920202019
Return on equity (annualised) 3) 4)
Cost income ratio 4)40.640.641.640.2
Losses as a percentage of loans (annualised) 4)
Gross credit-impaired commitments as a percentage of loans/guarantees1.531.481.531.48
Net credit-impaired commitments as a percentage of loans/guarantees1.
Deposit-to-loan ratio 4)
Liquidity Coverage Ratio (LCR)138165138165
Lending growth as a percentage 4)
Deposit growth as a percentage 4)-
Capital adequacy ratio 1)21.321.721.321.7
Tier 1 capital ratio 1)19.219.519.219.5
Common Equity Tier 1 capital ratio (CET1) 1)17.517.717.517.7
Leverage Ratio (LR) 1)
Equity Certificates (ECs)     
Profit per EC (Group) (NOK) 2)27.1034.5029.6027.7028.80
Profit per EC (Parent Bank) (NOK) 2)26.8332.0028.3527.0029.85
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)296317283262254
Stock market value (NOK million)2 9273 1342 7982 5902 511
Book value per EC (Group) (NOK) 4)332320303289275
Dividend per EC (NOK)4.5014.0015.5014.0014.00
Price/Earnings (Group, annualised)
Price/Book value (P/B) (Group) 2) 4)0.890.990.930.910.93
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