Main figures

  Second quarter First half  
From the income statement (NOKm) 2022 2021 2022 2021 2021
Net interest  801 698 1.559 1,366 2,796
Net commission income and other income 745 748 1.382 1,538 2,832
Net return on financial investments  44 270 279 560 1,026
Total income 1,590 1,716 3,220 3,464 6,655
Total operating expenses 758 735 1,520 1,531 2,993
Results before losses 832 981 1,700 1,933 3,662
Loss on loans, guarantees etc -48 39 -48 98 161
Results before tax 880 942 1,748 1,836 3,501
Tax charge 178 191 348 322 609
Result investment held for sale, after tax 0 4 -1 10 10
Net profit 702 755 1,400 1,523 2,902
Interest Tier 1 Capital 12 10 33 30 50
Net profit excl. Interest Tier 1 Capital 690 745 1,367 1,493 2,852
           
Balance sheet figures     30 June 2022 30 June 2021 31 Dec 2021
Gross loans to customers      148,681 141,935 147,301
Gross loans to customers incl. SB1 Boligkreditt and SB1 Næringskreditt     205,504 189,015 195,353
Deposits from customers     123,812 110,133 111,286
Average total assets     211,254 194,053 196,229
Total assets     217,458 200,426 198,845
           
           
  Second quarter First half  
Key figures  2022 2021 2022 2021 2021
           
Profitability          
Return on equity 1) 12.9 % 14.3 % 12.6 % 14.5 % 13.5 %
Cost-income ratio 1) 48 % 43 % 47 % 44 % 45 %
Deposit-to-loan ratio excl. SB1 Boligkreditt and SB1 Næringskreditt 83 % 78 % 83 % 78 % 76 %
Deposit-to-loan ratio incl. SB1 Boligkreditt and SB1 Næringskreditt 1) 60 % 58 % 60 % 58 % 57 %
Growth in loans (gross) last 12 months (incl. SB1 Boligkreditt and SB1 Næringskreditt) 1) 2.8 % 2.0 % 8.7 % 7.9 % 6.9 %
Growth in deposits last 12 months 8.6 % 7.6 % 12.4 % 16.8 % 14.1 %
           
Losses in % of gross loans incl. SB1 Boligkreditt and SB1 Næringskreditt          
Impairment losses ratio 1) -0.09 % 0.08 % -0.05 % 0.11 % 0.09 %
Stage 3 as a percentage of gross loans 1) 1.08 % 1.87 % 1.08 % 1.87 % 1.68 %
           
Solidity     30 June 2022 30 June 2021 31 Dec 2021
Capital ratio     22.7 % 22.2 % 21.6 %
Tier 1 capital ratio     20.4 % 20.0 % 19.6 %
Common equity Tier 1 capital ratio     18.8 % 18.3 % 18.0 %
Tier 1 capital     20,547 19,011 19,322
Total eligible capital     22,910 21,105 21,333
Liquidity Coverage Ratio (LCR)     204 % 184 % 138 %
Leverage Ratio     6.9 % 7.0 % 6.9 %
           
Branches and staff          
Number of branches     40 42 40
No. Of full-time positions     1,579 1,526 1,548
1) Defined as alternative performance measures, see attachment to quarterly report
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Key figures ECC  30 June 2022 30 June 2021 31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
ECC ratio 64.0 % 64.0 % 64.0 % 64.0 % 64.0 % 64.0 %
Number of certificates issued, millions 1) 129.31 129.36 129.39 129.39 129.30 129.62
ECC share price at end of period (NOK) 115.80 119.20 149.00 97.60 100.20 84.20
Stock value (NOKM) 14,974 15,420 19,279 12,629 12,956 10,914
Booked equity capital per ECC (including dividend) 1) 102.91 100.18 103.48 94.71 90.75 83.87
Profit per ECC, majority 1) 6.39 6.90 13.31 8.87 12.14 9.97
Dividend per ECC 0.00 0.00 7.50 4.40 6.50 5.10
Price-Earnings Ratio 1) 9.06 8.64 11.19 11.01 8.26 8.44
Price-Book Value Ratio 1) 1.13 1.19 1.44 1.03 1.10 1.00
1) Defined as alternative performance measures, see attachment to quarterly report
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