Main figures

  2015 2014  
From the profit and loss account NOKm % NOKm %
Net interest income 1,872 1.46 1,790 1.52
Commission income and other income 1,545 1.20 1,512 1.28
Net return on financial investments  459 0.36 720 0.61
Total income 3,876 3.02 4,021 3.41
Total operating expenses 1,931 1.50 1,789 1.52
Results before losses 1,945 1.52 2,232 1.89
Loss on loans, guarantees etc 169 0.13 89 0.08
Results before tax 1,776 1.38 2,143 1.82
Tax charge 370 0.29 362 0.31
Result investment held for sale, after tax -1 0.00 0 0.00
Net profit 1,406 1.10 1,782 1.51
         
Key figures  31 Dec 2015   31 Dec 2014  
Profitability        
Return on equity 1) 10.7 %    15.1 %  
Cost-income ratio 2) 50 %   44 %  
Balance sheet        
Gross loans to customers  93,974   90,578  
Gross loans to customers incl. SB1 Boligkreditt and SB1 Næringskreditt 127,378   120,435  
Deposits from customers 64,090   60,680  
Deposit-to-loan ratio excl. SB1 Boligkreditt 68 %   67 %  
Growth in loans (gross) last 12 months (incl. SB1 Boligkreditt and SB1 Næringskreditt) 5.8 %   7.3 %  
Growth in deposits last 12 months 5.6 %   8.5 %  
Average total assets 128,355   117,794  
Total assets 131,914   126,047  
Losses and defaults in % of gross loans incl. SB1 Boligkreditt and SB1 Næringskreditt        
Impairment losses ratio  0.14 %   0.08 %  
Non-performing commitm. as a percentage of gross loans 3) 0.13 %   0.22 %  
Other doubtful commitm. as a percentage of gross loans 0.30 %   0.18 %  
Solidity        
Capital adequacy ratio 18.3 %   15.7 %  
Core capital ratio 15.6 %   13.0 %  
Common equity tier 1 13.6 %   11.2 %  
Core capital 13,988   12,382  
Net equity and related capital 16,378   14,937  
Branches and staff        
Number of branches 49   49  
No. of full-time positions 1,208   1,192  
         
Key figures ECC  4) 31.12.2015 31.12.2014 31.12.2013 31.12.2012 31.12.2011
ECC ratio 64.0 % 64.6 % 64.6 % 64.6 % 60.6 %
Number of certificates issued, millions 129.83 129.83 129.83 129.83 102.76
ECC price  50.50 58.50 55.00 34.8 36.31
Stock value (NOKM) 6,556 7,595 7,141 4,518 3,731
Booked equity capital per ECC (including dividend) 67.65 62.04 55.69 50.09 48.91
Profit per ECC, majority 7.02 8.82 6.92 5.21 6.06
Dividend per ECC 2.25 2.25 1.75 1.5 1.85
Price-Earnings Ratio 7.19 6.63 7.95 6.68 5.99
Price-Book Value Ratio 0.74 0.94 0.99 0.69 0.74
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