3rd quarter 2018

Accounts for first nine months of 2018

(Consolidated figures. Figures in parenthesis refer to the same period of 2017 unless otherwise stated).

Main points first nine months of 2018

  • Good profits from banking operations, subsidiaries and product companies
  • Post-tax profit was NOK 1,689m, NOK 413m better than in the same period of 2017. The improvement is due to increased operating income, improved return on financial assets and reduced loan losses
  • Common equity tier 1 (CET1) ratio at 30 September 2018: 14.9 per cent
  • Considerable increase in customer base and high growth in all product areas, especially in the retail segment
  • SpareBank 1 SMN Gruppen and DNB signed on 24 September an agreement to merge their insurance businesses, thereby creating one of the country‚Äôs largest insurers.

Net profit of NOK 1,689m in first nine months of 2018

  • Pre-tax profit: NOK 1,937m (1,601m)
  • Post-tax profit: NOK 1,689m (1,275m)
  • Return on equity: 13.3 per cent (10.8 per cent)
  • CET1 ratio: 14.9 per cent (14.6 per cent)
  • Growth in lending: 7.3 per cent (9.4 per cent) and in deposits: 6.1 per cent (10.3 per cent) in the last 12 months
  • Growth in lending to retail borrowers: 10.7 per cent in the last 12 months (10.3 per cent). Retail loans account for 68 per cent (66 per cent) of total lending
  • Growth in lending to corporate borrowers: 0.8 per cent in the last 12 months (7.9 per cent)
  • Losses on loans and guarantees: NOK 196m (263m), measuring 0.17 per cent (0.25 per cent) of gross lending
  • Earnings per equity certificate (EC): NOK 8.07 (6.08). Book value per EC: NOK 82.57 (79.18)
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Nettsidefront_2_2017_Supplementary

Nettsidefront_3_2018_Presentation

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