Main figures

  2014 2013  
From the profit and loss account NOKm % NOKm %  
Net interest  1,790 1.52 1,616 1.44  
Commission income and other income 1,512 1.28 1,463 1.31  
Net return on financial investments  720 0.61 502 0.45  
Total income 4,021 3.41 3,580 3.20  
Total operating expenses 1,789 1.52 1,721 1.54  
Results 2,232 1.89 1,859 1.66  
Loss on loans, guarantees etc 89 0.08 101 0.09  
Results before tax 2,143 1.82 1,758 1.57  
Tax charge 362 0.31 388 0.35  
Result investment held for sale, after tax 0 0.00 30 0.03  
Net profit 1,782 1.51 1,400 1.25  
           
Key figures  2014   2013    
Profitability          
Return on equity 1) 15.1 %   13.3 %    
Cost-income ratio 2) 44 %   48 %    
Balance sheet          
Gross loans to customers  90,339   80,317    
Gross loans to customers incl. SB1 Boligkreditt and SB1 Næringskreditt 120,196   112,052    
Deposits from customers 62,201   56,074    
Deposit-to-loan ratio 69 %   70 %    
Growth in loans incl. SB1 Boligkreditt and SB1 Næringskreditt 7.3 %   6.8 %    
Growth in deposits 10.9 %   7.3 %    
Average total assets 117,794   111,843    
Total assets 126,047   115,360    
Losses and defaults in % of gross loans incl. SB1 Boligkreditt and SB1 Næringskreditt          
Impairment losses ratio  0.08 %   0.09 %    
Non-performing commitm. as a percentage of gross loans 3) 0.22 %   0.34 %    
Other doubtful commitm. as a percentage of gross loans 0.18 %   0.14 %    
Solidity          
Capital adequacy ratio 15.7 %   14.7 %    
Core capital ratio 13.0 %   13.0 %    
Common equity tier 1 11.2 %   11.1 %    
Core capital 12,382   10,989    
Net equity and related capital 14,937   12,417    
Branches and staff          
Number of branches 49   50    
No. Of full-time positions 1,192   1,159    
           
Key figures ECC  4) 2014 2013 2012 2011 2010
ECC ratio 64.6 % 64.6 % 64.6 % 60.6 % 61.3 %
Number of certificates issued, millions 129.83 129.83 129.83 102.76 102.74
ECC price  58.50 55.00 34.80 36.31 49.89
Stock value (NOKM) 7,595 7,141 4,518 3,731 5,124
Booked equity capital per ECC (including dividend) 62.04 55.69 50.09 48.91 46.17
Profit per ECC, majority 8.82 6.92 5.21 6.06 5.94
Dividend per ECC 2.25 1.75 1.50 1.85 2.77
Price-Earnings Ratio 6.63 7.95 6.68 5.99 8.40
Price-Book Value Ratio 0.94 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