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Financial highlights - Group
| Income statement | ||||||||
|---|---|---|---|---|---|---|---|---|
| (Amounts in percentage of average assets) | ||||||||
| Q4 2024 | Q4 2023 | 2024 | 2023 | |||||
| NOK million | % | NOK million | % | NOK million | % | NOK million | % | |
| Net interest income | 522 | 2.04 | 506 | 2.11 | 2 071 | 2.08 | 1 900 | 2.02 |
| Net commission and other operating income | 83 | 0.32 | 70 | 0.29 | 287 | 0.29 | 250 | 0.26 |
| Net result from financial instruments | -16 | -0.06 | 1 | 0.00 | 43 | 0.04 | 45 | 0.05 |
| Total income | 589 | 2.30 | 577 | 2.40 | 2 401 | 2.41 | 2 195 | 2.33 |
| Total operating expenses | 235 | 0.92 | 242 | 1.01 | 955 | 0.96 | 859 | 0.91 |
| Profit before impairment on loans | 354 | 1.38 | 335 | 1.39 | 1 446 | 1.45 | 1 336 | 1.42 |
| Impairment on loans, guarantees etc. | 21 | 0.08 | -117 | -0.49 | 20 | 0.02 | -53 | -0.06 |
| Pre-tax profit | 333 | 1.30 | 452 | 1.88 | 1 426 | 1.43 | 1 389 | 1.48 |
| Taxes | 82 | 0.32 | 112 | 0.46 | 340 | 0.34 | 334 | 0.35 |
| Profit after tax | 251 | 0.98 | 340 | 1.42 | 1 086 | 1.09 | 1 055 | 1.13 |
| Balance sheet | |||
|---|---|---|---|
| (NOK million) | 31.12.2024 | Change last 12 months (%) | 31.12.2023 |
| Total assets 4) | 102 335 | 5.8 | 96 735 |
| Average assets 4) | 99 776 | 6.0 | 94 095 |
| Loans to and receivables from customers | 86 875 | 6.5 | 81 572 |
| Gross loans to retail customers | 57 872 | 7.6 | 53 795 |
| Gross loans to corporate and public entities | 29 255 | 4.3 | 28 039 |
| Deposits from customers | 49 550 | 4.5 | 47 410 |
| Deposits from retail customers | 30 149 | 3.2 | 29 226 |
| Deposits from corporate and public entities | 19 401 | 6.7 | 18 184 |
| Key figures and Alternative Performance Measures (APMs) | ||||
|---|---|---|---|---|
| Q4 2024 | Q4 2023 | 2024 | 2023 | |
| Return on equity (annualised) 3) 4) | 12.2 | 17.8 | 13.7 | 14.0 |
| Cost/income ratio 4) | 40.0 | 42.0 | 39.8 | 39.2 |
| Losses as a percentage of loans and guarantees (annualised) 4) | 0.08 | -0.61 | 0.02 | -0.07 |
| Gross credit-impaired commitments as a percentage of loans/guarantee liabilities | 0.58 | 0.51 | 0.58 | 0.51 |
| Net credit-impaired commitments as a percentage of loans/guarantee liabilities | 0.45 | 0.39 | 0.45 | 0.39 |
| Deposit-to-loan ratio 4) | 56.9 | 57.9 | 56.9 | 57.9 |
| Liquidity Coverage Ratio (LCR) | 167 | 174 | 167 | 174 |
| NSFR (Net Stable Funding Ratio) | 122 | 124 | 122 | 124 |
| Lending growth as a percentage 4) | 6.5 | 2.3 | 6.5 | 7.2 |
| Deposit growth as a percentage 4) | 4.5 | 1.6 | 4.5 | 8.0 |
| Capital adequacy ratio 1) | 21.1 | 22.2 | 21.1 | 22.2 |
| Tier 1 capital ratio 1) | 19.0 | 20.0 | 19.0 | 20.0 |
| Common Equity Tier 1 capital ratio (CET1) 1) | 17.2 | 18.2 | 17.2 | 18.2 |
| Leverage Ratio (LR) 1) | 7.4 | 7.5 | 7.4 | 7.5 |
| Man-years | 402 | 400 | 402 | 400 |
| Equity Certificates (ECs) | ||||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | 2022 | 2021 | 2020 | ||
| Profit per EC (Group) (NOK) 2) 5) | 9.95 | 10.12 | 7.50 | 31.10 | 27.10 | |
| Profit per EC (parent bank) (NOK) 2) 5) | 9.55 | 10.34 | 8.48 | 30.98 | 26.83 | |
| Number of ECs 5) | 49 795 520 | 49 434 770 | 49 434 770 | 9 886 954 | 9 886 954 | |
| Nominal value per EC (NOK) 5) | 20.00 | 20.00 | 20.00 | 100.00 | 100.00 | |
| EC fraction 1.1 as a percentage (parent bank) | 49.1 | 49.7 | 49.7 | 49.7 | 49.6 | |
| EC capital (NOK million) | 995.90 | 988.70 | 988.70 | 988.70 | 988.70 | |
| Price at Oslo Stock Exchange (NOK) | 97.0 | 84.0 | 84.4 | 444 | 296 | |
| Stock market value (NOK million) | 4 830 | 4 153 | 4 173 | 4 390 | 2 927 | |
| Book value per EC (Group) (NOK) 4) 5) | 81.5 | 80.7 | 74.8 | 350 | 332 | |
| Dividend per EC (NOK) 5) | 6.25 | 7.50 | 4.00 | 16.00 | 13.50 | |
| Price/Earnings (Group, annualised) | 9.8 | 8.3 | 11.3 | 14.3 | 10.9 | |
| Price/Book value (P/B) (Group) 2) 4) | 1.19 | 1.04 | 1.13 | 1.27 | 0.89 | |
| 1) Incl. proposed allocations | ||||||
| 2) Calculated using the EC-holders' share (48.4 %) 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 | ||||||