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Financial highlights - Group
| Income statement | ||||||||
|---|---|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||||
| Q4 2023 | Q4 2022 | 2023 | 2022 | |||||
| NOK million | % | NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 506 | 2.11 | 432 | 1.95 | 1 900 | 2.02 | 1 517 | 1.78 |
| Net commission and other operating income | 70 | 0.29 | 67 | 0.30 | 250 | 0.26 | 246 | 0.29 |
| Net result from financial instruments | 1 | 0.00 | 35 | 0.16 | 45 | 0.05 | -7 | -0.01 |
| Total income | 577 | 2.40 | 534 | 2.41 | 2 195 | 2.33 | 1 756 | 2.06 |
| Total operating expenses | 242 | 1.01 | 216 | 0.97 | 859 | 0.91 | 747 | 0.87 |
| Profit before impairment on loans | 335 | 1.39 | 318 | 1.44 | 1 336 | 1.42 | 1 009 | 1.19 |
| Impairment on loans, guarantees etc. | -117 | -0.49 | 2 | 0.01 | -53 | -0.06 | -4 | 0.00 |
| Pre-tax profit | 452 | 1.88 | 316 | 1.43 | 1 389 | 1.48 | 1 013 | 1.19 |
| Taxes | 112 | 0.46 | 74 | 0.34 | 334 | 0.35 | 236 | 0.28 |
| Profit after tax | 340 | 1.42 | 242 | 1.09 | 1 055 | 1.13 | 777 | 0.91 |
| Balance sheet | |||
|---|---|---|---|
| (NOK million) | 31.12.2023 | Change over the last 12 months (%) | 31.12.2022 |
| Total assets 4) | 96 735 | 8.1 | 89 501 |
| Average assets 4) | 94 095 | 10.1 | 85 436 |
| Loans to and receivables from customers | 81 572 | 7.2 | 76 078 |
| Gross loans to retail customers | 53 795 | 5.9 | 50 818 |
| Gross loans to corporate and public entities | 28 039 | 9.6 | 25 575 |
| Deposits from customers | 47 410 | 8.0 | 43 881 |
| Deposits from retail customers | 29 226 | 10.9 | 26 344 |
| Deposits from corporate and public entities | 18 184 | 3.7 | 17 537 |
| Key figures and Alternative Performance Measures (APMs) | ||||
|---|---|---|---|---|
| Q4 2023 | Q4 2022 | 2023 | 2022 | |
| Return on equity (annualised) 3) 4) | 17.8 | 13.2 | 14.0 | 10.9 |
| Cost/income ratio 4) | 42.0 | 40.3 | 39.2 | 42.5 |
| Losses as a percentage of loans and guarantees (annualised) 4) | -0.61 | 0.01 | -0.07 | -0.01 |
| Gross credit-impaired commitments as a percentage of loans/guarantee liabilities | 0.51 | 1.44 | 0.51 | 1.44 |
| Net credit-impaired commitments as a percentage of loans/guarantee liabilities | 0.39 | 1.19 | 0.39 | 1.19 |
| Deposit-to-loan ratio 4) | 57.9 | 57.4 | 57.9 | 57.4 |
| Liquidity Coverage Ratio (LCR) | 174 | 185 | 174 | 185 |
| NSFR (Net Stable Funding Ratio) | 124 | 123 | 124 | 123 |
| Lending growth as a percentage 4) | 2.3 | 3.2 | 7.2 | 8.8 |
| Deposit growth as a percentage 4) | 1.6 | -1.8 | 8.0 | 4.8 |
| Capital adequacy ratio 1) | 22.2 | 22.1 | 22.2 | 22.1 |
| Tier 1 capital ratio 1) | 20.0 | 19.7 | 20.0 | 19.7 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 18.2 | 17.9 | 18.2 | 17.9 |
| Leverage Ratio (LR) 1) | 7.5 | 7.6 | 7.5 | 7.6 |
| Man-years | 400 | 374 | 400 | 374 |
| Equity Certificates (ECs) | ||||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | 2021 | 2020 | 2019 | ||
| Profit per EC (Group) (NOK) 2) 5) | 10.12 | 7.50 | 31.10 | 27.10 | 34.50 | |
| Profit per EC (parent bank) (NOK) 2) 5) | 10.34 | 8.48 | 30.98 | 26.83 | 32.00 | |
| Number of ECs 5) | 49 434 770 | 49 434 770 | 9 886 954 | 9 886 954 | 9 886 954 | |
| Nominal value per EC (NOK) 5) | 20.00 | 20.00 | 100.00 | 100.00 | 100.00 | |
| EC fraction 1.1 as a percentage (parent bank) | 49.7 | 49.7 | 49.7 | 49.6 | 49.6 | |
| EC capital (NOK million) | 988.70 | 988.70 | 988.70 | 988.70 | 988.70 | |
| Price at Oslo Stock Exchange (NOK) | 84.00 | 84.41 | 444.00 | 296.00 | 317.00 | |
| Stock market value (NOK million) | 4 153 | 4 173 | 4 390 | 2 927 | 3 134 | |
| Book value per EC (Group) (NOK) 4) 5) | 80.7 | 74.8 | 350 | 332 | 320 | |
| Dividend per EC (NOK) 5) | 7.50 | 4.00 | 16.00 | 13.50 | 14.00 | |
| Price/Earnings (Group, annualised) | 8.3 | 11.3 | 14.3 | 10.9 | 9.2 | |
| Price/Book value (P/B) (Group) 2) 4) | 1.04 | 1.13 | 1.27 | 0.89 | 0.99 | |
| 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 www.sbm.no/IR | ||||||
| 5) Our EC(MORG) was split 1:5 in April 2022 | ||||||