Main figures

  30 June 2012 30 June 2011 2011
From the profit and loss account NOKm % NOKm % NOKm %
Net interest  720 1.40 700 1,44 1,392 2.83
Commission income and other income 524 1.02 453 0.92 919 0.93
Net return on financial investments 239 0.46 188 0.39 478 0.97
Total income 1,483 2.89 1,341 2.77 2,789 2.83
Total operating expenses 799 1.55 708 1.45 1,482 1.51
Results 684 1.33 633 1.32 1,306 1.33
Loss on loans, guarantees etc 25 0.05 -7 -0.03 27 0.03
Results before tax 659 1.28 640 1.35 1,279 1.30
Tax charge 149 0.29 135 0.29 255 0.26
Net profit 510 0.99 505 1.06 1,024 1.04
             
Key figures  30 June 2012    30 June 2011    2011  
Profitability            
Return on equity 1) 11.7 %   13.0 %   12.8 %  
Cost-income ratio 2) 54 %   53 %   53 %  
Balance sheet            
Gross loans to customers  73,595   68,559   73,105  
Gross loans to customers incl. SpareBank 1 Boligkreditt and SpareBank 1 Næringskreditt 100,552   90,939   95,232  
Deposits from customers 51,504   45,990   47,871  
Deposit-to-loan ratio excl. Boligkreditt 70 %   67 %   65 %  
Growth in loans incl. Boligkreditt and Næringskreditt 10.6 %   8.6 %   8.6 %  
Growth in deposits 12.0 %   11.4 %   11.9 %  
Average total assets 102,766   96,954   98,465  
Total assets 107,815   98,503   101,455  
Losses and defaults in % of gross loans incl. Boligkreditt and Næringskreditt            
Impairment losses ratio  0.05 %   -0.02 %   0.03 %  
Non-performing commitm. as a percentage of gross loans 3) 0.34 %   0.40 %   0.36 %  
Other doubtful commitm. as a percentage of gross loans 0.20 %   0.20 %   0.21 %  
Solidity            
Capital adequacy ratio 12.4 %   12.3 %   12.0 %  
Core capital ratio 11.0 %   10.7 %   10.4 %  
Core capital 8,722   7,394   7,856  
Net equity and related capital 9,900   8,496   9,055  
Branches and staff            
Number of branches 52   54   54  
No. Of full-time positions 1,144   1,047   1,098  
             
Key figures ECC  4) 30 June 2012 30 June 2011 2011 2010 2009 2008
ECC ratio 64.5 % 61.3 % 60.6 % 61.3 % 54.8 % 56.3 %
Number of certificates issued, millions 124.21 102.74 102.77 102.74 82.78 82.41
ECC price  32.10 45.18 36.31 49.89 45.06 21.00
Stock value (NOKM) 3,987 4,642 3,731 5,124 3,749 1,750
Booked equity capital per ECC (including dividend) 48.03 46,36 48.91 46.07 42.11 38.07
Profit per ECC, majority 2.63 2.99 6.04 5.94 6.37 4.16
Dividend per ECC     1.85 2.77 2.10 2.77
Price-Earnings Ratio 6.10 7.56 6.01 8.40 7.07 5.05
Price-Book Value Ratio 0.67 0.96 0.74 1.08 1.07 0.55

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 SpareBank 1 Næringskreditt, and guarantees drawn

4) The key figures are corrected for issues
© SpareBank 1 SMN