Main figures

  Third quarter January - September  
From the income statement (NOKm) 2) 2023 2022 2023 2022 2022
Net interest  1,191 814 3,319 2,377 3,339
Net commission income and other income 484 491 1,586 1,568 2,042
Net return on financial investments  97 86 228 217 380
Total income 1,772 1,391 5,133 4,163 5,760
Total operating expenses 741 583 2,152 1,797 2,443
Results before losses 1,032 808 2,981 2,366 3,317
Loss on loans, guarantees etc 35 22 -6 -26 -7
Results before tax 996 785 2,988 2,391 3,324
Tax charge 278 179 642 508 718
Result investment held for sale, after tax 22 10 96 133 179
Net profit 740 617 2,441 2,017 2,785
Interest Tier 1 Capital 27 12 86 45 63
Net profit excl. Interest Tier 1 Capital 714 604 2,355 1,971 2,722
           
Balance sheet figures     30 Sep 2023 30 Sep 2022 31 Dec 2022
Gross loans to customers      168,940 150,247 152,629
Gross loans to customers incl. SB1 Boligkreditt and SB1 Næringskreditt     234,316 208,900 211,244
Deposits from customers     138,230 120,558 122,010
Average total assets     235,949 210,562 213,112
Total assets     243,472 218,918 223,110
           
  Third quarter January - September  
Key figures  2023 2022 2023 2022 2022
           
Profitability           
Return on equity 1) 11.1 % 10.9 % 13.0 % 12.0 % 12.3 %
Cost-income ratio 1) 44 % 45 % 44 % 46 % 45 %
Deposit-to-loan ratio excl. SB1 Boligkreditt and SB1 Næringskreditt 82 % 80 % 82 % 80 % 80 %
Deposit-to-loan ratio incl. SB1 Boligkreditt and SB1 Næringskreditt 1) 59 % 58 % 59 % 58 % 58 %
Growth in loans (gross) last 12 months (incl. SB1 Boligkreditt and SB1 Næringskreditt) 1.0 % 1.7 % 12.2 % 8.8 % 8.1 %
Growth in deposits last 12 months -1.4 % -2.6 % 14.7 % 9.9 % 9.6 %
           
Losses in % of gross loans incl. SB1 Boligkreditt and SB1 Næringskreditt           
Impairment losses ratio 1) 0.06 % 0.04 % 0.00 % -0.02 % 0.00 %
Stage 3 as a percentage of gross loans 0.98 % 1.02 % 0.98 % 1.02 % 0.97 %
           
Solidity     30 Sep 2023 30 Sep 2022 31 Dec 2022
Capital ratio     23.7 % 23.0 % 23.1 %
Tier 1 capital ratio     21.3 % 20.8 % 20.9 %
Common equity Tier 1 capital ratio     19.7 % 19.2 % 18.9 %
Tier 1 capital     24,283 21,252 21,835
Total eligible capital     26,950 23,546 24,147
Liquidity Coverage Ratio (LCR)     173 % 180 % 239 %
Leverage Ratio     7.3 % 7.3 % 7.1 %
           
Branches and staff     30 Sep 2023 30 Sep 2022 31 Dec 2022
Number of branches     46 40 40
No. Of full-time positions 2)     1,582 1,608 1,432
1) Defined as alternative performance measures, see attachment to quarterly report
2) Historical numbers are restated after the reclassification of the subsidiary SpareBank 1 Markets to Investment held for sale. For more information, see Note 2. 
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Key figures ECC  30 Sep 23 30 Sep 22 31 Dec 2022 31 Dec 2021 31 Dec 2020 31 Dec 2019
ECC ratio 67 % 64 % 64 % 64 % 64 % 64 %
Number of certificates issued, millions 1) 143.82 129.29 129.29 129.39 129.39 129.30
ECC share price at end of period (NOK) 137.20 111.40 127.40 149.00 97.60 100.20
Stock value (NOKM) 19,732 14,402 16,471 19,279 12,629 12,956
Booked equity capital per ECC (including dividend) 1) 116.39 107.19 109.86 103.48 94.71 90.75
Profit per ECC, majority 1) 11.14 9.29 12.82 13.31 8.87 12.14
Dividend per ECC     6.50 7.50 4.40 6.50
Price-Earnings Ratio 1) 9.24 9.00 9.94 11.19 11.01 8.26
Price-Book Value Ratio 1) 1.18 1.04 1.16 1.44 1.03 1.10
1) Defined as alternative performance measures, see attachment to quarterly report
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© SpareBank 1 SMN