Financial highlights - Group

Income statement      
(Amounts in percentage of average assets)
 Q4 2021Q4 202020212020
 NOK million%NOK million%NOK million%NOK million%
Net interest income3351.623141.591 2661.561 2271.57
Net commission and other operating income610.30530.272180.272060.27
Net result from financial instruments-16-0.08180.09430.05740.09
Total income3801.843851.951 5271.881 5071.93
Total operating costs1740.841560.786450.806240.80
Profit before impairment on loans2061.002291.178821.088831.13
Impairment on loans, guarantees etc.50.03350.18490.061490.19
Pre-tax profit2010.971940.998331.027340.94
Profit after tax1530.741470.756420.785670.73
Statement of financial position
(NOK million)31.12.2021Change over the last 12 months (%)31.12.2020
Total assets 4)82 7974.279 486
Average assets 4)80 9423.278 450
Loans to and receivables from customers69 9254.666 850
Gross loans to retail customers47 5574.345 592
Gross loans to corporate and public entities22 6975.421 534
Deposits from customers41 8537.339 023
Deposits from retail customers24 6675.623 366
Deposits from corporate and public entities17 1869.815 657
Key figures and alternative performance measures (APMs)
 Q4 2021Q4 202020212020
Return on equity (annualised) 3) 4)
Cost/income ratio 4)45.740.242.241.4
Losses as a percentage of loans (annualised) 4)
Gross credit-impaired commitments as a percentage of loans/guarantee liabilities1.521.531.521.53
Net credit-impaired commitments as a percentage of loans/guarantee liabilities1.
Deposit-to-loan ratio 4)59.658.159.658.1
Liquidity Coverage Ratio (LCR)122138122138
Lending growth as a percentage 4)
Deposit growth as a percentage 4)2.6-
Capital adequacy ratio 1)20.920.820.920.8
Tier 1 capital ratio 1)18.918.718.918.7
Common Equity Tier 1 capital ratio (CET1) 1)
Leverage Ratio (LR) 1)
Equity Certificates (ECs)     
Profit per EC (Group) (NOK) 2)31.1027.1034.5029.6027.70
Profit per EC (Parent Bank) (NOK) 2)30.9826.8332.0028.3527.00
EC fraction 1.1 as a percentage (Parent Bank)49.749.649.649.649.6
EC capital (NOK million)988.70988.70988.70988.70988.70
Price at Oslo Stock Exchange (NOK)444296317283262
Stock market value (NOK million)4 3902 9273 1342 7982 590
Book value per EC (Group, incl. proposed dividends) (NOK) 4)350332320303289
Dividend per EC (NOK)16.0013.5014.0015.5014.00
Price/Earnings (Group, annualised)14.310.
Price/Book value (P/B) (Group) 2) 4)1.270.890.990.930.91
1) Including proposed allocations
2) Calculated using the EC-holders' share (49.7 %) 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.