Note 3 - Account by business line
The Bank was reorganised as from 1 January 2013. It was therefore natural to revise the segment structure.
As from 1 January 2013 the corporate market segment is split up and reports as two separate segments: Large corporates and SME. Historical data have not been reworked since these are difficult to reconstruct at a sufficiently precise level. Thus, for comparison purposes, Large corporates and SMBs must be viewed collectively in relation to 2012. This will apply to each quarter of 2013. In organisation terms, SMBs are a part of Offices which also handles Retail Customers.
Since Allegro accounts for a minimal part of the Group’s profits, it is no longer reported as a separate segment. It is now added in the column for “others”.
| Group 31 March 2013 | ||||||||||
| Profit and loss account (NOK million) | RM | SME | Large Corporates | Markets | EM 1 | SMN Finans | SMN Regnskap | Uncollated | Total | |
| Net interest | 134 | 69 | 148 | -5 | 1 | 30 | 0 | -33 | 343 | |
| Interest from allocated capital | 3 | - | 8 | - | - | - | - | -11 | - | |
| Total interest income | 137 | 69 | 156 | -5 | 1 | 30 | 0 | -44 | 343 | |
| Commission income and other income | 137 | 19 | 20 | 7 | 73 | -3 | 33 | 31 | 317 | |
| Net return on financial investments **) | 0 | 1 | 4 | 21 | - | - | - | 143 | 169 | |
| Total income *) | 274 | 88 | 180 | 23 | 74 | 26 | 33 | 130 | 829 | |
| Total operating expenses | 164 | 34 | 61 | 21 | 63 | 10 | 29 | 31 | 414 | |
| Ordinary operating profit | 110 | 54 | 119 | 2 | 11 | 16 | 3 | 100 | 414 | |
| Loss on loans, guarantees etc. | 3 | 2 | 10 | 0 | - | 2 | - | 1 | 17 | |
| Result before tax | 107 | 53 | 109 | 2 | 11 | 14 | 3 | 99 | 398 | |
| Post-tax return on equity | 25.2 % | 33.8 % | 10.1 % | 3.0 % | 12.7 % | |||||
| Balance (NOK million) | ||||||||||
| Loans and advances to customers | 59,155 | 8,602 | 32,569 | - | - | 3,170 | - | -27,071 | 76,425 | |
| Adv. of this to SpareBank 1 Boligkreditt | -29,441 | -386 | -578 | - | - | - | - | - | -30,405 | |
| Individual allowance for impairment on loan | -25 | -18 | -85 | - | - | -15 | - | 0 | -143 | |
| Group allowance for impairment on loan | -73 | -30 | -175 | - | - | -16 | - | -0 | -295 | |
| Other assets | 89 | 318 | 46 | - | 89 | -2,921 | 37 | 67,528 | 65,187 | |
| Total assets | 29,705 | 8,486 | 31,777 | - | 89 | 218 | 37 | 40,456 | 110,769 | |
| Deposits to customers | 22,799 | 8,768 | 18,990 | - | - | - | 0 | 2,045 | 52,603 | |
| Other liabilities and equity | 6,906 | -282 | 12,788 | - | 89 | 218 | 37 | 38,411 | 58,166 | |
| Total liabilites | 29,705 | 8,486 | 31,777 | - | 89 | 218 | 37 | 40,456 | 110,769 | |
| Group 31 March 2012 | ||||||||||
| Profit and loss account (NOK million) | RM | CM | Markets | EM 1 | SMN Finans | Allegro | SMN Regnskap | Uncollated | Total | |
| Net interest | 125 | 214 | 1 | 1 | 30 | 0 | -0 | -19 | 351 | |
| Interest from allocated capital | 1 | 4 | 0 | - | - | - | - | -5 | - | |
| Total interest income | 126 | 218 | 1 | 1 | 30 | 0 | -0 | -24 | 351 | |
| Commission income and other income | 89 | 32 | 2 | 72 | -1 | 3 | 26 | 13 | 235 | |
| Net return on financial investments **) | 0 | 7 | 18 | - | 0 | - | 1 | 142 | 160 | |
| Total income *) | 215 | 257 | 21 | 73 | 30 | 3 | 27 | 130 | 746 | |
| Total operating expenses | 163 | 100 | 21 | 59 | 13 | 4 | 22 | 17 | 398 | |
| Ordinary operating profit | 52 | 157 | 0 | 14 | 16 | -1 | 6 | 114 | 349 | |
| Loss on loans, guarantees etc. | -1 | -8 | - | 0 | 2 | 0 | - | 0 | -8 | |
| Result before tax | 53 | 149 | 0 | 14 | 14 | -1 | 6 | 106 | 340 | |
| Post-tax return on equity | 16.4 % | 11.6 % | 0.0 % | 13.0 % | ||||||
| Balance (NOK million) | ||||||||||
| Loans and advances to customers | 53,538 | 39,295 | - | - | 2,968 | - | - | 1,587 | 97,387 | |
| Adv. of this to SpareBank 1 Boligkreditt | -24,215 | -617 | - | - | - | - | - | -874 | -25,706 | |
| Individual allowance for impairment on loan | -30 | -112 | - | - | -22 | - | - | -0 | -164 | |
| Group allowance for impairment on loan | -73 | -200 | - | - | -16 | - | - | - | -290 | |
| Other assets | 247 | 565 | - | 98 | -2,463 | 6 | 38 | 29,278 | 27,769 | |
| Total assets | 29,467 | 38,931 | - | 98 | 466 | 6 | 38 | 29,991 | 98,996 | |
| Deposits to customers | 21,386 | 25,458 | - | - | - | - | - | 1,027 | 47,871 | |
| Other liabilities and equity | 8,154 | 13,673 | - | 98 | 466 | 6 | 38 | 28,690 | 51,125 | |
| Total liabilites | 29,540 | 39,131 | - | 98 | 466 | 6 | 38 | 29,717 | 98,996 | |
| *) A portion of capital market income (Markets) is distributed on RM and CM | ||||||||||
| **) Specification of net return on financial investments (NOKm) | 31 Mar 2013 | 31 Mar 2012 | |
| Income from investment in related companies | 108 | 99 | |
| adv. of this from SpareBank1 Gruppen | 61 | 47 | |
| adv. of this from BN Bank ASA | 26 | 15 | |
| adv. of this from Bank 1 Oslo Akershus AS | - | 11 | |
| adv. of this SpareBank 1 Boligkreditt | 12 | 14 | |
| adv. of this SpareBank 1 Næringskreditt | 2 | 3 | |
| adv. of this Polaris Media | - | 2 | |
| Net gain and dividends on securities | 25 | 3 | |
| adv. of this from SpareBank 1 SMN Invest | 16 | 4 | |
| Net gain on bonds | 20 | 34 | |
| Net gain on trading and derivatives SMN Markets | 17 | 23 | |
| Net return on financial investments | 169 | 160 | |
