STATEMENT OF INCOME - GROUP (COMPRESSED) | | | | | |
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(NOK million) | Note | Q4 2023 | Q4 2022 | 2023 | 2022 |
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Interest income from assets at amortised cost | | 1 207 | 804 | 4 221 | 2 386 |
Interest income from assets at fair value | | 204 | 129 | 695 | 344 |
Interest expenses | | 905 | 501 | 3 016 | 1 213 |
Net interest income | 3 | 506 | 432 | 1 900 | 1 517 |
Commission income and revenues from banking services | | 72 | 68 | 258 | 248 |
Commission expenses and charges from banking services | | 11 | 9 | 42 | 34 |
Other operating income | | 9 | 8 | 34 | 32 |
Net commission and other operating income | 7 | 70 | 67 | 250 | 246 |
Dividends | | 0 | 10 | 1 | 11 |
Net change in value of financial instruments | | 1 | 25 | 44 | -18 |
Net result from financial instruments | 7 | 1 | 35 | 45 | -7 |
Total other income | 7 | 71 | 102 | 295 | 239 |
Total income | | 577 | 534 | 2 195 | 1 756 |
Salaries, wages etc. | | 135 | 122 | 482 | 430 |
Depreciation and impairment of non-financial assets | | 12 | 12 | 49 | 46 |
Other operating expenses | | 95 | 82 | 328 | 271 |
Total operating expenses | 8 | 242 | 216 | 859 | 747 |
Profit before impairment on loans | | 335 | 318 | 1 336 | 1 009 |
Impairment on loans, guarantees etc. | 5 | -117 | 2 | -53 | -4 |
Pre-tax profit | | 452 | 316 | 1 389 | 1 013 |
Taxes | | 112 | 74 | 334 | 236 |
Profit after tax | | 340 | 242 | 1 055 | 777 |
Allocated to equity owners | | 327 | 231 | 1 007 | 746 |
Allocated to owners of Additional Tier 1 capital | | 13 | 11 | 48 | 31 |
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Profit per EC (NOK) 1) | | 3.28 | 2.33 | 10.12 | 7.50 |
Diluted earnings per EC (NOK) 1) | | 3.28 | 2.33 | 10.12 | 7.50 |
Distributed dividend per EC (NOK) | | 0.00 | 0.00 | 4.00 | 16.00 |
* EC (MORG) was split 1:5 in April 2022. The restated dividend per EC for 2021, paid in 2022, will thus be NOK 3.20. |
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STATEMENT OF COMPREHENSIVE INCOME - GROUP (COMPRESSED) | | | | | |
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(NOK million) | | Q4 2023 | Q4 2022 | 2023 | 2022 |
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Profit after tax | | 340 | 242 | 1 055 | 777 |
Items that may subsequently be reclassified to the income statement: | | | | | |
Basisswap spreads - changes in value | | -14 | -28 | -37 | 30 |
Tax effect of changes in value on basisswap spreads | | 3 | 7 | 8 | -6 |
Items that will not be reclassified to the income statement: | | | | | |
Pension estimate deviations | | 1 | 46 | 1 | 46 |
Tax effect of pension estimate deviations | | 0 | -12 | 0 | -12 |
Total comprehensive income after tax | | 330 | 255 | 1 027 | 835 |
Allocated to equity owners | | 317 | 244 | 979 | 804 |
Allocated to owners of Additional Tier 1 capital | | 13 | 11 | 48 | 31 |
1) Calculated using the EC-holders' share (49.7 %) of the period's profit to be allocated to equity owners. |