STATEMENT OF INCOME - PARENT BANK (COMPRESSED) |
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(NOK million) | Q4 2023 | Q4 2022 | 2023 | 2022 |
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Interest income from assets at amortised cost | 831 | 572 | 2 932 | 1 703 |
Interest income from assets at fair value | 172 | 102 | 560 | 267 |
Interest expenses | 552 | 297 | 1 825 | 715 |
Net interest income | 451 | 377 | 1 667 | 1 255 |
Commission income and revenues from banking services | 72 | 68 | 257 | 247 |
Commission expenses and expenditure from banking services | 10 | 9 | 41 | 34 |
Other operating income | 13 | 12 | 50 | 45 |
Net commission and other operating income | 75 | 71 | 266 | 258 |
Dividends | 0 | 10 | 154 | 252 |
Net change in value of financial instruments | 7 | 42 | 43 | 3 |
Net result from financial instruments | 7 | 52 | 197 | 255 |
Total other income | 82 | 123 | 463 | 513 |
Total income | 533 | 500 | 2 130 | 1 768 |
Salaries, wages etc. | 128 | 114 | 458 | 406 |
Depreciation and impairment of non-financial assets | 15 | 14 | 59 | 53 |
Other operating expenses | 90 | 79 | 308 | 257 |
Total operating expenses | 233 | 207 | 825 | 716 |
Profit before impairment on loans | 300 | 293 | 1 305 | 1 052 |
Impairment on loans, guarantees etc. | -125 | -3 | -68 | -18 |
Pre-tax profit | 425 | 296 | 1 373 | 1 070 |
Taxes | 106 | 69 | 296 | 195 |
Profit after tax | 319 | 227 | 1 077 | 875 |
Allocated to equity owners | 306 | 216 | 1 029 | 844 |
Allocated to owners of Additional Tier 1 capital | 13 | 11 | 48 | 31 |
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Profit per EC (NOK) 1) * | 3.07 | 2.17 | 10.34 | 8.48 |
Diluted earnings per EC (NOK) 1) * | 3.07 | 2.17 | 10.34 | 8.48 |
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 - PARENT BANK (COMPRESSED) |
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(NOK million) | Q4 2023 | Q4 2022 | 2023 | 2022 |
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Profit after tax | 319 | 227 | 1 077 | 875 |
Items that may subsequently be reclassified to the income statement: | | | | |
Basisswap spreads - changes in value | 0 | 0 | 0 | 0 |
Tax effect of changes in value on basisswap spreads | 0 | 0 | 0 | 0 |
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 | 320 | 261 | 1 078 | 909 |
Allocated to equity owners | 307 | 250 | 1 030 | 878 |
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. |