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 Enterprises. Historical data have not been reworked since these are difficult to reconstruct at a sufficiently precise level. Thus, for comparison purposes, Group Customers and SMEs must be viewed collectively in relation to 2012. This will apply to each quarter of 2013. In organisation terms, SMEs 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 the second quarter 2013 the joint ventures 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. As from the third quarter of 2013 companies held for sale are reported under the Corporate Customer segment. For the subsidiaries the figures refer to the respective company accounts, while for joint ventures incorporated by the equity method the group’s profit share is stated as well as book value of the investment at group level.

 

Group 30 Sep 2013
Profit and loss account (NOK million) RM SME Group Corporates Markets EM 1 SB1 Finans MN SB1 Regnskapshuset SMN SB1 Gruppen BN Bank Uncollated Total
Net interest    457   213   509 10 3 89 -  -   -  -101 1,180
Interest from allocated capital 7 2 20   -0   -   - -  -   -    -28   -
Total interest income   464   214   529 9 3 89 -  -   -  -129 1,180
Commission income and other income   505 58 58 25   289   -2 102  -   -  46 1,081
Net return on financial investments **) 1 1 47 31   - 0 - 153 75 73   380
Total income *) 969 273 634 66 292 87 102 153 75 -10 2,641
Total operating expenses 474 98 185 63 239 33 90  -  - 75 1,256
Ordinary operating profit 496 175 449 3 53 54 12 153 75 -85 1,384
 Loss on loans, guarantees etc.  6 6 49 0   - 11 - - - -4 68
Result before tax including held for sale 490 169 400 3 53 43 12 153 75 -81 1,316
Post-tax return on equity 37.0 % 31.4 % 13.8 % 1.1 %             13.3 %
                         
Balance (NOK million)                      
Loans and advances to customers 62,233 9,124 31,775   -   - 3,308 -  -   -  3,797   110,237
Adv. of this to SB1 Boligkreditt and SB1 Næringskreditt   -29,125 -400 -869   -   -   - -  -   -    - -30,394
Individual allowance for impairment on loan   -27   -16 -107   -   -   -18 -  -   -    -0 -168
Group allowance for impairment on loan   -73   -30 -175   -   -   -16 -  -   -    -0 -295
Other assets   252 26   212   -   305 14 79 1,029 1,168 29,511   32,597
Total assets  33,261 8,704 30,835   -   305 3,288 79 1,029 1,168 33,308   111,977
                         
Deposits to customers 23,880 8,641 19,330   -   -   - -  -  - 1,571   53,423
Other liabilities and equity 9,380 63 11,505   -   305 3,288 79 1,029 1,168 31,737   58,554
Total liabilites 33,261 8,704 30,835   -   305 3,288 79 1,029 1,168 33,308   111,977

 

 

Group 30 Sep 2012
Profit and loss account (NOK million) RM CM Markets EM 1 SB1 Finans MN SB1 Regnskapshuset SMN SB1 Gruppen BN Bank Uncollated Total
Net interest    399   653 9 2 80  -   -  -   -64 1,079
Interest from allocated capital 9 74 4   -   -  -   -  -   -87   -
Total interest income   408   726 13 2 80 - - - -150 1,079
Commission income and other income   332 97 16   286   -2 82  -  - 7   818
Net return on financial investments **) 1 17 41   -0 0 2 104 41   198   403
Total income *) 740 840 70 288 78 84 104 41 55 2,300
Total operating expenses 488 290 59 231 29 71  -  - 48 1,217
Ordinary operating profit 252 550 10 57 48 13 104 41 7 1,084
 Loss on loans, guarantees etc.  3 35 -   - 5 - - - -1 42
Result before tax including held for sale 249 516 10 57 43 13 104 41 8 1,042
Post-tax return on equity 19.5 % 12.8 % 5.6 %             11.7 %
                       
Balance (NOK million)                    
Loans and advances to customers 56,916 41,080   -   - 3,112  -   -  - 2,167   103,274
Adv. of this to SB1 Boligkreditt   -26,984 -934   -   -   -  -   -  - 0 -27,917
Individual allowance for impairment on loan   -31 -106   -   -   -12  -   -  - 0 -148
Group allowance for impairment on loan   -73 -205   -   -   -16  -   -  -   -0 -295
Other assets   200   782   -   287 43 49 1,064 1,064 32,201   35,691
Total assets  30,028 40,618   -   287 3,127 49 1,064 1,064 34,367   110,605
                       
Deposits to customers 22,335 24,910   -   -   - -  -  - 3,591   50,836
Other liabilities and equity 7,694 15,708   -   287 3,127 49 1,064 1,064 30,776   59,770
Total liabilites 30,028 40,618   -   287 3,127 49 1,064 1,064 34,367   110,605
*) A portion of capital market income (Markets) is distributed on RM and CM

 

**) Specification of net return on financial investments (NOKm) 30 Sep 2013 30 Sep 2012
Capital gains/dividends, shares 45 22
Bonds and derivatives   -14 56
SpareBank 1 SMN Markets 58 95
Net return on financial investments 90   173
SpareBank 1 Gruppen   153   104
SpareBank 1 Boligkreditt  25 37
SpareBank 1 Næringskreditt 5 8
BN Bank 75 41
Other jointly controlled companies 32 41
Income from investment in related companies   290   231
Total   380   404
© SpareBank 1 SMN