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.

Group 30 June 2019
Profit and loss account (NOKm) RM CM SB1 Markets EM 1 SB1 Finans
MN		 SB1
Regnskaps-
huset SMN		 SB1 Gruppen BN Bank Un-
collated		 Total
Net interest   561 503 -9 -1 152 -1 - - 107 1,313
Interest from allocated capital 103 73 - - - - - - -176 -
Total interest income 664 576 -9 -1 152 -1 -  -  -69 1,313
Commission income and other income 385 100 264 277 36 291 - - -195 1,157
Net return on financial investments **) 0 5 58 - - - 224 49 727 1,063
Total income  1,049 681 313 276 187 291 224 49 464 3,533
Total operating expenses 431 207 284 262 92 229 - - -100 1,404
Ordinary operating profit 618 475 29 14 95 62 224 49 564 2,129
 Loss on loans, guarantees etc.  11 93 - - 21 - - - 2 126
Result before tax including held for sale 606 382 29 14 74 62 224 49 563 2,003
Post-tax return on equity*) 13.8 % 11.8 %               19.0 %
                      
Balance                     
Loans and advances to customers 115,289 38,422 - - 8,429 - - - 1,486 163,627
Adv. of this sold to SB1 Boligkreditt and SB1 Næringskreditt -40,193 -1,539 - - - - - - 0 -41,732
Allowance for credit losses -108 -707 - - -50 - - - -4 -870
Other assets  232 6,198 2,935 1,949 24 531 1,562 1,367 31,466 46,264
Total assets   75,220 42,374 2,935 1,949 8,403 531 1,562 1,367 32,948 167,289
                      
Deposits to customers  42,795 42,374 - - - - - - 1,384 86,553
Other liabilities and equity 32,425 0 2,935 1,949 8,403 531 1,562 1,367 31,564 80,736
Total liabilites and equity 75,220 42,374 2,935 1,949 8,403 531 1,562 1,367 32,948 167,289

 

 

Group 30 June 2018
Profit and loss account (NOKm) RM CM SB1- Markets EM 1 SB1- Finans MN SB1 Regnskaps- huset SMN SB1  Gruppen BN  Bank Un-
collated		 Total
Net interest   503 477 -7 2 131 -0 - - 43 1,149
Interest from allocated capital 86 64 - - - - - - -151 -
Total interest income 589 541 -7 2 131 -0 -  -  -107 1,149
Commission income and other income 397 98 245 261 30 253 - - -135 1,149
Net return on financial investments **) 0 4 58 - - - 117 51 249 480
Total income  986 643 296 263 162 252 117 51 7 2,778
Total operating expenses 398 187 260 245 75 208 - - -67 1,306
Ordinary operating profit 588 456 36 18 87 44 117 51 74 1,471
 Loss on loans, guarantees etc.  10 102 - - 15 - - - -1 127
Result before tax including held for sale 578 354 36 18 72 44 117 51 75 1,345
Post-tax return on equity*) 13.2 % 10.8 %               14.4 %
                      
Balance (NOKm)                     
Loans and advances to customers 108,702 37,943 - - 7,304 - - - -842 154,790
Adv. of this to SB1 Boligkreditt and SB1 Næringskreditt -37,304 -1,699 - - - - - - - -39,003
Allowance for credit losses -67 -997 - - -39 - - - 0 -1,103
Other assets  138 4,847 2,970 1,656 17 395 1,396 1,197 32,285 44,901
Total assets   71,468 40,094 2,970 1,656 7,282 395 1,396 1,197 33,126 159,584
                      
Deposits to customers  40,372 38,390 - - - - - - 1,581 80,343
Other liabilities and equity 31,097 1,704 2,970 1,656 7,282 395 1,396 1,197 31,545 79,241
Total liabilites and equity 71,468 40,094 2,970 1,656 7,282 395 1,396 1,197 33,126 159,584

*) Calculation of capital employed in Retail Banking and Corporate Banking is based on regulatory capital. This capital is grossed up to 15.0 percent to be in line with the capital plan per 31 December 2019

 

 

**) Specification of net return on financial investments incl. Investment held for sale (NOKm) 30 June 2019 30 June 2018
Dividends 13 6
Capital gains shares (incl dividends) 107 117
Gain/(loss) on derivatives 47 -36
Gain/(loss) on other financial instruments at fair value (FVO) 63 142
Foreign exchange gain/(loss) -5 -6
Gain/(loss) on sertificates and bonds 6 12
Gains/(Loss) on shares and share derivatives at SpareBank 1 Markets 23 26
Gain/(loss) on financial instruments related to hedging 23 37
Net return on financial instruments 264  293
SpareBank 1 Gruppen 224 117
Gain Fremtind Forsikring 460 -
SpareBank 1 Boligkreditt  22 -5
SpareBank 1 Næringskreditt 10 8
BN Bank 51 53
SpareBank 1 Kredittkort 8 11
SpareBank 1 Betaling 10 -6
Other companies 1 5
Income from investment in associates and joint ventures 786 181
Total net return on financial investments 1,063  480
     
Fair value hedging    
Changes in fair value on hedging instrument -224 -115
Changes in fair value on hedging item 219 109
Net Gain or Loss from hedge accounting -5 -6
© SpareBank 1 SMN