Main figures

  30 Jun 2014 30 Jun 2013 2013
From the profit and loss account NOKm % NOKm % NOKm %
Net interest 843 1.46 746 1.35 1,616 1.44
Commission income and other income 780 1.35 713 1.29 1,463 1.31
Net return on financial investments 459 0.80 211 0.38 502 0.45
Total income 2,081 3.61 1,670 3.02 3,580 3.20
Total operating expenses 884 1.53 850 1.54 1,722 1.54
Results 1,197 2.08 820 1.48 1,859 1.66
Loss on loans, guarantees etc 32 0.05 38 0.07 101 0.09
Results before tax 1,165 2.02 782 1.41 1,758 1.57
Tax charge 202 0.35 179 0.32 388 0.35
Result investment held for sale, after tax 0 0.00 3 0.01 30 0.03
Net profit 963 1.67 606 1.09 1,400 1.25
             
Key figures 30 Jun 2014   30 Jun 2013   2013  
Profitability            
Return on equity 1) 16.8 %   11.9 %   13.3 %  
Cost-income ratio 2) 42 %   51 %   48 %  
Balance sheet            
Gross loans to customers 85,206   78,976   80,303  
Gross loans to customers incl. SB1 Boligkreditt and SB1 Næringskreditt 114,561   108,968   112,038  
Deposits from customers 59,408   55,294   56,074  
Deposit-to-loan ratio 70 %   70 %   70 %  
Growth in loans incl. SB1 Boligkreditt and SB1 Næringskreditt 5.1 %   8.4 %   6.8 %  
Growth in deposits 7.4 %   7.3 %   7.3 %  
Average total assets 115,243   110,626   111,843  
Total assets 118,758   113,190   115,360  
Losses and defaults in % of gross loans incl. SB1 Boligkreditt and SB1 Næringskreditt            
Impairment losses ratio 0.06 %   0.07 %   0.09 %  
Non-performing commitm. as a percentage of gross loans 3) 0.29 %   0.38 %   0.34 %  
Other doubtful commitm. as a percentage of gross loans 0.18 %   0.13 %   0.14 %  
Solidity            
Capital adequacy ratio 15.0 %   13.8 %   14.7 %  
Core capital ratio 13.3 %   12.2 %   13.0 %  
Common equity tier 1 11.4 %   10.3 %   11.1 %  
Core capital 11,635   10,508   10,989  
Net equity and related capital 13,164   11,894   12,417  
Branches and staff            
Number of branches 49   50   50  
No. Of full-time positions 1,167   1,164   1,159  
             
Key figures ECC 4) 30 Jun 2014 30 Jun 2013 2013 2012 2011 2010
ECC ratio 64.6 % 64.6 % 64.6 % 64.6 % 60.6 % 61.3 %
Number of certificates issued, millions 129.83 129.83 129.83 129.83 102.76 102.74
ECC price 54.25 46.50 55.00 34.80 36.31 49.89
Stock value (NOKM) 7,043 6,037 7,141 4,518 3,731 5,124
Booked equity capital per ECC (including dividend) 58.32 51.66 55.69 50.09 48.91 46.17
Profit per ECC, majority 4.77 2.99 6.92 5.21 6.06 5.94
Dividend per ECC     1.75 1.50 1.85 2.77
Price-Earnings Ratio 5.68 7.79 7.95 6.68 5.99 8.40
Price-Book Value Ratio 0.93 0.90 0.99 0.69 0.74 1.08

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 sold to SpareBank 1 Boligkreditt and SpareBank 1 Næringskreditt, and guarantees drawn
4) The key figures are corrected for issues
© SpareBank 1 SMN