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 31 December 2014
Profit and loss account (NOKm) RM CM Markets EM 1 SB1 Finans MN SB1 Regnskaps-
huset SMN		 SB1 Gruppen BN Bank Uncollated Total
Net interest   873 840 -9 5 130 6  -   -  -55 1,790
Interest from allocated capital 40 67 -0 - - -  -   -  -107 -
Total interest income 913 906 -9 5 130 6  -   -  -162 1,790
Commission income and other income 762 159 19 359 -4 182  -   -  35 1,512
Net return on financial investments ***) 1 29 27 - - - 358 93 212 720
Total income *)  1,675 1,095 37 364 126 188 358 93 85 4,021
Total operating expenses 809 318 58 313 50 148 - - 93 1,789
Ordinary operating profit 867 777 -21 51 75 40 358 93 -7 2,232
 Loss on loans, guarantees etc.  6 77 - - 8 - - - -2 89
Result before tax including held for sale 861 699 -21 51 68 40 358 93 -6 2,144
Post-tax return on equity**) 19.2 % 10.0 %               15.1 %
                      
Balance (NOKm)                     
Loans and advances to customers 78,322 37,205 - - 3,637 -  -   -  1,032 120,196
Adv. of this to SB1 Boligkreditt and SB1 Næringskreditt -28,490 -1,366 - - - -  -   -  -1 -29,857
Individual allowance for impairment on loan -25 -139 - - -8 -  -   -  -0 -172
Group allowance for impairment on loan -90 -188 - - -16 -  -   -  -0 -295
Other assets  270 124 - 284 11 139 1,421 1,201 32,723 36,175
Total assets   49,987 35,636 - 284 3,625 139 1,421 1,201 33,754 126,047
                      
Deposits to customers  31,571 28,181 - - - - - - 2,449 62,201
Other liabilities and equity 18,416 7,454 - 284 3,625 139 1,421 1,201 31,305 63,846
Total liabilites  49,987 35,636 - 284 3,625 139 1,421 1,201 33,754 126,047

 

Group 31 December 2013
Profit and loss account (NOKm) RM SME Group Corporates Markets EM 1 SB1 Finans MN SB1 Regnskaps-
huset SMN		 SB1 Gruppen BN Bank Uncollated Total
Net interest   630 284 695 5 7 118 -0  -   -  -122 1,616
Interest from allocated capital 11 3 34 -1 - - -  -   -  -47 -
Total interest income 641 286 729 4 7 118 -0  -   -  -170 1,616
Commission income and other income 704 79 91 29 368 -3 133  -   -  62 1,463
Net return on financial investments ***) 1 1 49 40 - 0 -0 210 91 141 531
Total income *)  1,346 366 869 73 375 116 132 210 91 33 3,610
Total operating expenses 641 156 257 85 314 45 118 - - 103 1,722
Ordinary operating profit 705 210 612 -13 61 70 14 210 91 -71 1,888
 Loss on loans, guarantees etc.  6 5 71 - - 20 - - - -1 101
Result before tax including held for sale 699 205 541 -13 61 51 14 210 91 -70 1,788
Post-tax return on equity**) 31.6 % 24.0 % 10.5 % 1.1 %              13.3 %
                        
Balance (NOKm)                       
Loans and advances to customers 64,156 9,055 31,920 - - 3,291 -  -   -  3,631 112,052
Adv. of this to SpareBank 1 Boligkreditt -30,204 -421 -1,110 - - - -  -   -  0 -31,735
Individual allowance for impairment on loan -28 -15 -122 - - -23 -  -   -  15 -173
Group allowance for impairment on loan -73 -30 -175 - - -16 -  -   -  -0 -295
Other assets  501 35 306 - 291 12 105 1,113 1,188 31,961 35,511
Total assets   34,351 8,623 30,818 - 291 3,264 105 1,113 1,188 35,607 115,360
                        
Deposits to customers  24,459 8,734 21,544 - - - - - - 1,337 56,074
Other liabilities and equity 9,893 -111 9,274 - 291 3,264 105 1,113 1,188 34,270 59,286
Total liabilites  34,351 8,623 30,818 - 291 3,264 105 1,113 1,188 35,607 115,360
*) 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 (NOKm) 31 Dec 2014 31 Dec 2013
Capital gains/dividends, shares 202 114
Bonds and derivatives -66 -40
Forex and fixed income business, Markets 57 73
Net return on financial investments 193 147
SpareBank 1 Gruppen 358 210
SpareBank 1 Boligkreditt  38 40
SpareBank 1 Næringskreditt 41 8
BN Bank 93 91
SpareBank 1 Markets -32 -1
SpareBank 1 Kredittkort 2 -
Companies owned by SpareBank 1 SMN Invest    31 14
Other companies -3 23
Income from investment in related companies 527 384
Total 720 531
© SpareBank 1 SMN