Note 17 - Earnings per EC
Equity certificate (EC) holders' share of the profit is calculated as after-tax profit distributed in relation to the average number of ECs in the financial year. No options contracts are attached to the ECs so that diluted profit is consistent with earnings per EC. Upon presentation of accounts for 2016, earnings per EC were incorrectly stated as NOK 8.11. This has now been corrected in the comparative figures.
| (mill. kr) | 31 Dec 2017 | 31 Dec 2016 |
| Adjusted Net Profit to allocate between ECC owners and Savings Bank Reserve 1) | 1,763 | 1,606 |
| Allocated to ECC Owners 2) | 1,128 | 1,027 |
| Issues Equity Captial Certificates adjusted for own certificates | 129,507,851 | 129,534,387 |
| Earnings per Equity Captial Certificate | 8.71 | 7.93 |
| Adjusted Net Profit 1) | 31 Dec 2017 | 31 Dec 2016 |
| Net Profit for the group | 1,828 | 1,681 |
| adjusted for non-controlling interests share of net profit | -32 | -41 |
| Adjusted for Tier 1 capital holders share of net profit | -33 | -34 |
| Adjusted Net Profit | 1,763 | 1,606 |
| Equity capital certificate ratio (parent bank) 2) | ||
| (NOKm) | 31 Dec 2017 | 31 Dec 2016 |
| ECC capital | 2,597 | 2,597 |
| Dividend equalisation reserve | 5,079 | 4,490 |
| Premium reserve | 895 | 895 |
| Unrealised gains reserve | 81 | 81 |
| Other equity capital | - | - |
| A. The equity capital certificate owners' capital | 8,652 | 8,063 |
| Ownerless capital | 4,831 | 4,499 |
| Unrealised gains reserve | 45 | 45 |
| Other equity capital | - | - |
| B. The saving bank reserve | 4,877 | 4,545 |
| To be disbursed from gift fund | 322 | 220 |
| Dividend declared | 571 | 389 |
| Equity ex. hybrid capital | 14,422 | 13,216 |
| Equity capital certificate ratio A/(A+B) | 63.95 % | 63.95 % |
| Equity capital certificate ratio for distribution | 63.95 % | 63.95 % |
