Note 3 - Account by business line

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.

The segment SB1 Markets comprises the subsidiary SpareBank 1 Markets as from the second quarter of 2015. SpareBank 1 Markets became a subsidiary on 1 April 2015 when SpareBank 1 SMN integrated its markets activity into SpareBank 1 Markets and at the same time increased its holding to 73.4 per cent. As a consequence, the result as of 30 September 2015 is solely the result for the second and third quarter.

In the reporting on the first quarter of 2015 and previously, the segment Markets comprised SpareBank 1 SMN's own markets activity in the parent bank. The result for the first quarter of 2015 is now, in the second quarter, moved to the column 'uncollated'. For 2014 the segment Markets continues to comprise the bank's own markets activity.

Group 30 September 2015
Profit and loss account (NOKm) RM CM SB1 Markets EM 1 SB1 Finans MN SB1 Regnskaps huset SMN SB1 Gruppen BN Bank Uncollated Total
Net interest 672 685 -2 2 112 -0 - - -70 1,399
Interest from allocated capital 37 44 - - - - - - -81 -
Total interest income 709 729 -2 2 112 -0  -   -  -151 1,399
Commission income and other income 530 135 25 282 24 153 - - 19 1,168
Net return on financial investments ***) 1 11 31 - - - 183 31 93 349
Total income *)  1,239 874 55 284 136 153 183 31 -39 2,917
Total operating expenses 565 258 118 244 68 127 - - 36 1,416
Ordinary operating profit 674 617 -63 39 68 26 183 31 -74 1,501
 Loss on loans, guarantees etc.  6 100 - - 5 - - - 1 112
Result before tax including held for sale 668 517 -63 39 63 26 183 31 -76 1,388
Post-tax return on equity**) 16.2 % 12.9 %               11.5 %
                     
Balance (NOKm)                     
Loans and advances to customers 83,077 37,781 - - 4,199 - - - 1,124 126,180
Adv. of this to SB1 Boligkreditt and SB1 Næringskreditt -29,993 -1,269 - - - - - - -1 -31,263
Individual allowance for impairment on loan -24 -158 - - -7 - - - -2 -191
Group allowance for impairment on loan -90 -218 - - -17 - - - -0 -326
Other assets  140 9 1,316 281 14 137 1,453 1,145 30,341 34,836
Total assets 53,109 36,144 1,316 281 4,189 137 1,453 1,145 31,462 129,237
                     
Deposits to customers  33,449 29,567 - - - - - - 604 63,620
Other liabilities and equity 19,660 6,578 1,316 281 4,189 137 1,453 1,145 30,858 65,617
Total liabilites  53,109 36,144 1,316 281 4,189 137 1,453 1,145 31,462 129,237

 

Group 30 September 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 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 76,834 35,016 - - 3,600 -  -   -  1,015 116,464
Adv. of this to SpareBank 1 Boligkreditt -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  189 7 - 280 10 128 1,341 1,187 27,803 30,946
Total assets 48,296 33,563 - 280 3,582 128 1,341 1,187 28,816 117,194
                     
Deposits to customers  31,829 25,474 - - - - - - 789 58,091
Other liabilities and equity 16,467 8,089 - 280 3,582 128 1,341 1,187 28,027 59,102
Total liabilites  48,296 33,563 - 280 3,582 128 1,341 1,187 28,816 117,194
 *) 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 percent to be in line with the capital plan.
***) Specification of net return on financial investments including held for sale (NOKm) 30 Sept 2015 30 Sept 2014
Capital gains/dividends, shares 79 216
Bonds and derivatives -73 -18
Change in discount factor in fair value model for fixed interest loans  -64 -
Forex and fixed income business, Markets 82 46
Net return on financial investments 24 245
SpareBank 1 Gruppen 183 259
SpareBank 1 Boligkreditt  65 23
SpareBank 1 Næringskreditt 22 30
BN Bank 31 78
SpareBank 1 Kredittkort 15 -
Companies owned by SpareBank 1 SMN Invest 13 18
Other companies -3 -25
Income from investment in related companies 326 383
Total 349 628
© SpareBank 1 SMN