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: Group Customers and Small and Mid-size Businesses. Historical data have not been reworked since these are difficult to reconstruct at a sufficiently precise level. Thus, for comparison purposes, Group Customers 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  very limited part of the Group’s profits, it is no longer reported on as a separate segment that is added in the column for “others”. As from Q2 2013 the related companies SpareBank 1 Gruppen and BN Bank are being treated as separate segments. The rationale is that each of these entities accounts for a substantial portion of the consolidated profit while at the same time being of significance in the capital requirement context. Consequently the companies receive much focus in the Group's internal corporate governance.

 

  Group 30 Jun 2013
Profit and loss account (NOK million) RM SME Group Corporates Markets EM 1 SMN Finans SMN Regnskap SB1 Gruppen BN Bank Uncollated Total
Net interest    285   139   325   -2 2 63   -0  -   -    -66   746
Interest from allocated capital 5 1 19   -0   -   - -  -   -    -25   -
Total interest income   291   140   344   -2 2 63   -0  -   -    -91   746
Commission income and other income   310 38 42 19   174   -7 73  -   -  64   713
Net return on financial investments **) 0 1 11 11   - 0 - 79 43 68   214
Total income *) 601 179 397 28 176 56 73 79 43 42 1,673
Total operating expenses 325 67 138 41 134 21 61     61 850
Ordinary operating profit 277 112 259 -13 42 35 12 79 43 -20 823
Loss on loans, guarantees etc.  6 3 24 0   - 6 - - - 0 38
Result before tax 270 109 235 -13 42 29 12 79 43 -19 785
Post-tax return on equity 31.9 % 31.5 % 10.0 %               11.7 %
                       
Balance (NOK million)                      
Loans and advances to customers 60,832 8,827 32,420   -   - 3,224 -  -   -    -26,327   78,976
Adv. of this to SpareBank 1 Boligkreditt   -29,014 -402 -577   -   -   - -  -   -    - -29,992
Individual allowance for impairment on loan   -27   -18   -95   -   -   -13 -  -   -  0 -153
Group allowance for impairment on loan   -73   -30 -175   -   -   -16 -  -   -    -0 -295
Other assets   254 28   171   -   190   -2,736 49 957 1,136 64,606   64,654
Total assets  31,972 8,405 31,744   -   190   458 49 957 1,136 38,279   113,190
                       
Deposits to customers 24,186 8,640 20,601   -   -   - 5     1,836   55,268
Other liabilities and equity 7,787 -235 11,143   -   190   458 44 957 1,136 36,442   57,922
Total liabilites 31,972 8,405 31,744   -   190   458 49 957 1,136 38,279   113,190

 

  Group 30 Jun 2012
Profit and loss account (NOK million) RM CM Markets EM 1 SMN Finans SMN Regnskap SB1 Gruppen BN Bank Uncollated Total
Net interest    251   433   -1 2 58   -0  -   -    -22   720
Interest from allocated capital 8 56 2   -   - -  -   -    -66   -
Total interest income   259   489 1 2 58   -0  -   -    -88   720
Commission income and other income   204 64 10   166   -6 52  -   -  34   524
Net return on financial investments **) 1 17 41   -0   - 1 60 27 89   236
Total income *) 464 570 52 168 51 53 60 27 35 1,480
Total operating expenses 320 196 45 126 20 44     45 795
Ordinary operating profit 144 374 8 42 31 9 60 27 -10 684
Loss on loans, guarantees etc.  2 22 0   - 1 - - - 0 25
Result before tax 142 351 8 42 31 9 60 27 -10 659
Post-tax return on equity 16.2 % 13.8 %               11.7 %
                     
Balance (NOK million)                    
Loans and advances to customers 55,338 40,163   - 72 2,997 8  -   -  1,975   100,552
Adv. of this to SpareBank 1 Boligkreditt   -24,921   -1,077   -   -   - -  -   -  -959 -26,958
Individual allowance for impairment on loan   -31 -124   -   -   -11 -  -   -    - -166
Group allowance for impairment on loan   -73 -200   -   -   -16 -  -   -    - -290
Other assets   201   579   -   187   -2,544 51 1,019 1,050 34,098   34,641
Total assets  30,513 39,341   -   259   425 59 1,019 1,050 35,114   107,780
                     
Deposits to customers 22,644 25,871   -   -   - -     2,990   51,504
Other liabilities and equity 7,870 13,470   -   259   425 59 1,019 1,050 32,124   56,275
Total liabilites 30,513 39,341   -   259   425 59 1,019 1,050 35,114   107,780
*) A portion of capital market income (Markets) is distributed on RM and CM        

 

**) Specification of net return on financial investments (NOKm) 30 Jun 2013 30 Jun 2012
Capital gains/dividends, shares 26 -10
Bonds and derivatives 5 38
SpareBank 1 SMN Markets 42 59
Net return on financial investments 74 87
SpareBank 1 Gruppen 79 60
SpareBank 1 Boligkreditt  13 25
SpareBank 1 Næringskreditt 3 5
BN Bank 43 27
Other jointly controlled companies 3 32
Income from investment in related companies   140   149
Total   214   236

 

© SpareBank 1 SMN