Income statement

Parent bank     Group
2009 4.Q 10 4.Q 11 2010 2011 (NOK million) Note 2011 2010 4.Q 11 4.Q 10 2009
3,314 874 991   3,226   3,713 Interest income      3,780   3,315 1,007 894 3,416
2,142 602 691   2,110   2,502 Interest expenses      2,499   2,105 691 601 2,137
1,172 272 299   1,116   1,211 Net interest      1,281   1,210 316 293 1,279
  524 144 121   573   544 Commission income     778   766 188 199 706
  78 20 23   74   75 Commission expenses     83   81 25 23 84
  17 6 17   24   39 Other operating income     224   170 69 47 134
  463 130 115   524   508 Commission income and other income     919   855 232 222 756
  163 0 0   191   260 Dividends     36   43 2 0 6
  - - -   -   - Income from investment in related companies 2   290   249 119 83 349
  294 111 64   221   177 Net return on financial investments 2   262   197 103 115 287
  457 111 65   411   437 Net return on financial investments     588   490 224 198 642
2,092 512 479   2,051   2,156 Total income     2,789   2,555 772 713 2,677
  536 79 114   376   528 Staff costs 2   810   583 196 137 725
  270 82 98   278   315 Administration costs     381   339 114 98 320
  183 50 82   171   245 Other operating expenses     291   218 103 76 208
  988 212 294   825   1,089 Total operating expenses    4   1,482   1,140 412 311 1,253
1,104 300 185   1,226   1,068 Result before losses     1,306   1,414 360 402 1,424
  254 20 22   108   12 Loss on loans, guarantees etc. 6,7   27   132 26 25 277
  850 280 163   1,118   1,055 Result before tax   3   1,279   1,282 333 377 1,147
  180 57 52   235   235 Tax charge     255   260 54 60 210
  669 224 111   882   820 Net profit     1,024   1,022 279 318 937
          Majority share     1,016   1,017 277 317 931
          Minority interest     8   5 2 1 6
                       
          Profit per ECC   6.61 6.43 1.80 2.05 6.73
          Diluted profit per ECC   6.56 6.40 1.79 2.05 6.69

 Other comprehensive income*

Parent bank     Group
2009 4.Q 10 4.Q 11 2010 2011 (NOK million) 2011 2010 4.Q 11 4.Q 10 2009
  669 224 111   882   820 Net profit   1,024   1,022 279 318 937
  - - -   -   - Available-for-sale financial assets -6   7   -0 - -
          Share of other comprehensive income of          
  - - -   -   - associates and joint venture -19 -29   -8 4 16
  - - -   -   - Other comprehensive income -25 -22   -8 4 16
  669 224 111   882   820 Total other comprehensive income   999   1,000 271 322 953
          Majority share of comprehensive income   991   994 269 321 947
          Minority interest of comprehensive income   8   5 2 1 6

* Other comprehensive income comprise items reflected directly in equity capital that are not transactions with owners, cf. IAS 1

Key figures

Parent bank     Group
2009 4.Q 10 4.Q 11 2010 2011 Result as per cent of average total assets: 2011 2010 4.Q 11 4.Q 10 2009
1.37 1.14 1.21 1.24 1.25 Net interest  1.30 1.33 1.26 1.21 1.48
0.54 0.55 0.47 0.58 0.52 Commission income and other income 0.93 0.94 0.92 0.92 0.87
0.53 0.47 0.26 0.46 0.45 Net return on financial investments 0.60 0.54 0.89 0.82 0.74
1.16 0.89 1.19 0.92 1.12 Total operating expenses  1.51 1.25 1.64 1.29 1.45
1.29 1.26 0.75 1.36 1.10 Result before losses 1.33 1.55 1.43 1.66 1.64
0.30 0.08 0.09 0.12 0.01 Loss on loans, guarantees etc. 0.03 0.15 0.10 0.10 0.32
0.99 1.18 0.66 1.24 1.09 Result before tax 1.30 1.40 1.32 1.56 1.32
0.47 0.41 0.61 0.40 0.50 Cost -income ratio 0.53 0.45 0.53 0.44 0.47
63 %     64 % 68 % Loan-to-deposit ratio 65 % 61 %     60 %
13.7 % 13.8 % 6.5 % 15.1 % 12.3 % Return on equity  12.8 % 14.6 % 13.6 % 16.6 % 16.2 %
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