Income statement

Parent bank     Group
2010 31 March 2010 31 March 2011 (NOK million) Note 31 March 2011 31 March 2010 2010
3,226   724   870 Interest income   886 748   3,315
2,110   449   560 Interest expenses   559 449   2,105
1,116   274   311 Net interest   327 300   1,210
  573   137   141 Commission income    192 178   766
  74 17 16 Commission expenses    18 18   81
  24 3 8 Other operating income    47 35   170
  524   124   132 Commission income and other income    221 194   855
  191 33 6 Dividends    3 1   43
  -   -   - Income from investment in related companies    54 41   249
  221 7 42 Net return on financial investments  12,13 62   -6   197
  411 40 47 Net return on financial investments    118 36   490
2,051   438   490 Total income    666 529   2,555
  493   145   142 Staff costs  12 198 195   711
  278 66 68 Administration costs    86 83   339
  171 38 53 Other operating expenses    65 44   218
  942   249   263 Total operating expenses before write-back of early retirement liabilities (AFP) in 2010    348 323   1,268
-117 -106   - Write-back of early retirement liabilities (AFP) in 2010    -   -117 -128
  825   143   263 Total operating expenses    348 206   1,140
1,226   295   227 Result before losses    318 323   1,414
  108 56   -10 Loss on loans, guarantees etc.  1   -6 68   132
1,118   239   237 Result before tax    11 325 255   1,282
  235 61 65 Tax charge    70 67   260
  882   178   172 Net profit    255 188   1,022
      Majority share    248 188   1,017
      Minority interest    6 1   5
               
      Profit per ECC    1.64 1.09 6.43

Other comprehensive income*

Parent bank     Group
2010 31 March 2010 31 March 2011 (NOK million) 31 March 2011 31 March 2010 2010
  882   178   172  Net profit  255 188   1,022
  -   -   -  Available-for-sale financial assets  9 -   -
       Share of other comprehensive income of       
  -   -   -   associates and joint venture  6   -19 -29
  -   -   -  Other comprehensive income  15   -19 -29
  882   178   172  Total comprehensive income  270 169   993
       Majority share of comprehensive income  263 169   987
       Minority interest of comprehensive income  6 1   5

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

Key figures

Parent bank     Group
2010 31 March 2010 31 March 2011 Result as per cent of average total assets: 31 March 2011 31 March 2010 2010
1.24 1.32 1.31 Net interest  1.36 1.41 1.33
0.58 0.59 0.56 Commission income and other income 0.92 0.92 0.94
0.46 0.19 0.20 Net return on financial investments 0.49 0.17 0.54
1.11 1.19 1.11 Total operating expenses before write-back of early retirement liabilities (AFP) in 2010 1.45 1.52 1.50
1.36 1.42 0.96 Result before losses 1.32 1.53 1.55
0.12 0.27 -0.04 Loss on loans, guarantees etc. -0.03 0.32 0.15
1.24 1.15 1.00 Result before tax 1.35 1.20 1.40
0.40 0.57 0.54 Cost (before write-back og early retirement liabilities)-income ratio 0.52 0.61 0.45
64 % 63 % 65 % Loan-to-deposit ratio 63 % 61 % 61 %
15.1 % 14.0 % 10.7 % Return on equity  13.2 % 12.1 % 14.6 %

Report and notes

© SpareBank 1 SMN