Note 8 - Defaults

Parent bank   Group
31 Dec 2010 30 June 2010 30 June 2011   30 June 2011 30 June 2010 31 Dec 2010
      Total defaults      
397 231 254 Loans in default for more than 90 days *) 361 342 499
72 46 58  - Specified loss provision 88 73 100
325 185 196 Net defaults 273 269 399
18 % 20 % 23 % Provision rate 24 % 21 % 20 %
      Problem Loans      
198 665 161 Problem loans (not in default) 178 680 211
114 198 84  - Specified loss provision 90 207 122
84 466 77 Net problem loans  88 473 89
58 % 30 % 52 % Provision rate 51 % 30 % 58 %

*) Of which NOK 17 million relates to loans in the guarantee portfolio taken over from BN Bank ASA. These will not entail loss for SpareBank 1 SMN.

© SpareBank 1 SMN