Note 3 - Account by business line
As from 1 January 2014 the Bank's SMB portfolio is split up and assigned to Retail Banking and Corporate Banking respectively. Limited companies are transferred to Corporate Banking. Sole proprietorships, agricultural customers and associations etc are transferred to Retail Banking. Historical data have not been reworked owing to the difficulty of reconstructing such data at a sufficiently precise level.
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, after tax, as well as book value of the investment at group level.
| Group 30 September 2014 | ||||||||||||
| Profit and loss account (NOKm) | RM | CM | Markets | EM 1 | SB1 Finans MN | SB1 Regnskapshuset SMN | SB1 Gruppen | BN Bank | Uncollated | Total | ||
| Net interest | 629 | 621 | -1 | 2 | 95 | -0 | - | - | -55 | 1,305 | ||
| Interest from allocated capital | 33 | 51 | 1 | - | - | - | - | - | -84 | - | ||
| Total interest income | 661 | 672 | -1 | 2 | 95 | -0 | - | - | -139 | 1,305 | ||
| Commission income and other income | 568 | 121 | 15 | 270 | -3 | 141 | - | - | 44 | 1,140 | ||
| Net return on financial investments ***) | 1 | 20 | 26 | - | - | - | 259 | 78 | 245 | 628 | ||
| Total income *) | 1,230 | 812 | 41 | 272 | 92 | 141 | 259 | 78 | 149 | 3,074 | ||
| Total operating expenses | 596 | 226 | 49 | 230 | 37 | 117 | - | - | 54 | 1,310 | ||
| Ordinary operating profit | 634 | 586 | -9 | 42 | 55 | 24 | 259 | 78 | 95 | 1,765 | ||
| Loss on loans, guarantees etc. | 7 | 44 | - | - | 5 | - | - | - | -1 | 55 | ||
| Result before tax including held for sale | 626 | 542 | -9 | 42 | 50 | 24 | 259 | 78 | 96 | 1,709 | ||
| Post-tax return on equity **) | 19,8 % | 10,7 % | 16.1 % | |||||||||
| Balance (NOKm) | ||||||||||||
| Loans and advances to customers | 76,773 | 34,891 | - | - | 3,600 | - | - | - | 961 | 116,225 | ||
| Adv. of this to SB1 Boligkreditt and SB1 Næringskreditt | -28,609 | -1,130 | - | - | - | - | - | - | -1 | -29,740 | ||
| Individual allowance for impairment on loan | -28 | -142 | - | - | -11 | - | - | - | 0 | -182 | ||
| Group allowance for impairment on loan | -90 | -188 | - | - | -16 | - | - | - | -0 | -295 | ||
| Other assets | 249 | 132 | - | 280 | 10 | 128 | 1,341 | 1,187 | 27,857 | 31,185 | ||
| Total assets | 48,296 | 33,563 | - | 280 | 3,582 | 128 | 1,341 | 1,187 | 28,816 | 117,194 | ||
| Deposits to customers | 31,632 | 24,747 | - | - | - | - | - | - | 1,621 | 58,000 | ||
| Other liabilities and equity | 16,664 | 8,816 | - | 280 | 3,582 | 128 | 1,341 | 1,187 | 27,196 | 59,194 | ||
| Total liabilites | 48,296 | 33,563 | - | 280 | 3,582 | 128 | 1,341 | 1,187 | 28,816 | 117,194 | ||
| Group 30 September 2013 | ||||||||||||
| Profit and loss account (NOKm) | 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 | - | - | - | 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 | - | - | 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 % | 13.3 % | ||||||||
| Balance (NOKm) | ||||||||||||
| Loans and advances to customers | 65,418 | 9,124 | 31,775 | - | - | 3,308 | - | - | - | 612 | 110,237 | |
| Adv. of this to SpareBank 1 Boligkreditt | -29,125 | -400 | -869 | - | - | - | - | - | - | 402 | -29,992 | |
| 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 | 29,109 | 32,195 | |
| Total assets | 36,446 | 8,704 | 30,835 | - | 305 | 3,288 | 79 | 1,029 | 1,168 | 30,123 | 111,977 | |
| Deposits to customers | 24,450 | 8,641 | 19,330 | - | - | - | - | - | - | 1,052 | 53,474 | |
| Other liabilities and equity | 11,996 | 63 | 11,505 | - | 305 | 3,288 | 79 | 1,029 | 1,168 | 29,071 | 58,503 | |
| Total liabilites | 36,446 | 8,704 | 30,835 | - | 305 | 3,288 | 79 | 1,029 | 1,168 | 30,123 | 111,977 | |
| *) A portion of capital market income (Markets) is distributed on RM and CM | ||||||||||||
| **) As from the third quarter 2014, calculation of capital employed in Retail Banking and Corporate Banking is based on regulatory capital. This capital is grossed up to 13.5% to be in line with the capital plan. Figures for 2013 are not adjusted as a result of this. | ||||||||||||
| ***) Specification of net return on financial investments including held for sale (NOKm) | 30 Sep 2014 | 30 Sep 2013 | ||||
| Capital gains/dividends, shares | 216 | 45 | ||||
| Bonds and derivatives | -18 | -14 | ||||
| Forex and fixed income business, Markets | 46 | 58 | ||||
| Net return on financial investments | 245 | 90 | ||||
| SpareBank 1 Gruppen | 259 | 153 | ||||
| SpareBank 1 Boligkreditt | 23 | 25 | ||||
| SpareBank 1 Næringskreditt | 30 | 5 | ||||
| BN Bank | 78 | 75 | ||||
| SpareBank 1 Markets | -22 | - | ||||
| Companies owned by SpareBank 1 SMN Invest | 18 | - | ||||
| Other companies | -3 | 32 | ||||
| Income from investment in related companies | 383 | 290 | ||||
| Total | 629 | 380 | ||||
