Main Figures

  2011 2010 2009
From the profit and loss account NOKm % NOKm % NOKm %
Net interest  1,281 1.30 1,210 1.33 1,279 1.48
Commission income and other income 919 0.93 855 0.94 756 0.87
Net return on financial investments 588 0.60 490 0.54 642 0.74
Total income 2,789 2.83 2,555 2.80 2,677 3.09
Total operating expenses 1,482 1.51 1,140 1.25 1,253 1.45
Results 1,306 1.33 1,414 1.55 1,424 1.64
Loss on loans, guarantees etc 27 0.03 132 0.15 277 0.32
Results before tax 1,279 1.30 1,282 1.40 1,147 1.32
Tax charge 255 0.26 260 0.28 210 0.24
Net profit 1,024 1.04 1,022 1.12 937 1.08
             
Key figures  2011   2010   2009  
Profitability            
Return on equity 1) 12.8 %   14.6 %   16.2 %  
Cost-income ratio 2) 53 %   45 %   47 %  
Balance sheet            
Gross loans to customers  73,105   69,847   61,782  
Gross loans to customers incl. SpareBank 1 Boligkreditt 95,232   87,665   77,429  
Deposits from customers 47,871   42,786   37,227  
Deposit-to-loan ratio 65 %   61 %   60 %  
Growth in loans incl.Boligkreditt 8.6 %   13.2 %   8.6 %  
Growth in deposits 11.9 %   14.9 %   5.5 %  
Average total assets 98,465   91,317   86,679  
Total assets 101,455   97,997   84,509  
Losses and defaults in % of gross loans incl. Boligkreditt            
Impairment losses ratio  0.03 %   0.16 %   0.31 %  
Non-performing commitm. as a percentage of gross loans 3) 0.36 %   0.57 %   0.49 %  
Other doubtful commitm. as a percentage of gross loans 0.21 %   0.24 %   0.57 %  
Solidity            
Capital adequacy ratio 12.0 %   13.0 %   13.6 %  
Core capital ratio 10.4 %   10.9 %   10.4 %  
Core capital 7,856   7,283   6,730  
Net equity and related capital 9,055   8,643   8,730  
Branches and staff            
Number of branches 54   54   55  
No. Of full-time positions 1,109   1,035   1,016  
             
Key figures ECC  4) 2011 2010 2009 2008 2007  
ECC ratio 60.6 % 61.3 % 54.8 % 56.3 % 54.2 %  
Number of certificates issued, millions 94.92 94.90 69.43 57.86 53.98  
ECC price  39.30 54.00 49.02 22.85 54.65  
Stock value (NOKM) 3,731 5,124 3,749 1,750 3,900  
Booked equity capital per ECC (including dividend) 54.44 50.60 44.89 40.03 38.35  
Profit per ECC 6.61 6.43 6.73 4.49 6.16  
Dividend per ECC 2.00 3.00 2.27 1.51 4.24  
Price-Earnings Ratio 5.94 8.40 7.29 5.09 8.87  
Price-Book Value Ratio 0.72 1.07 1.09 0.57 1.43  

1) Net profit as a percentage of average equity      
2) Total operating expenses as a percentage of total operating income      
3) Defaults and doubtful loans are reported on the basis of gross lending, including loans transferred to SpareBank 1 Boligkreditt, and guarantees drawn      
4) The key figures are corrected for issues. No change in the number of ECCs.

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