Note 4 - 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 First half 2023                  
Profit and loss account (NOKm) RM CM Sunnmøre og Fjordane EM 1 SB 1 Finans MN SB 1 Regnskaps-huset SMN Other Uncollated Total
Net interest 863 622 246 1 252 2 - 142 2,129
Interest from allocated capital 143 84 44 - - - - -271 -
Total interest income 1,006 706 290 1 252 2 - -128 2,129
Comission income and other income 348 120 45 224 -53 398 - 20 1,102
Net return on financial investments **) 3 -3 10 1 -13 - 223 -90 131
Total income 1,356 823 345 226 186 400 223 -198 3,361
Total operating expenses 510 185 106 178 59 312 - 61 1,411
Ordinary operating profit 846 638 239 48 127 89 223 -259 1,950
 Loss on loans, guarantees etc.  -5 23 -91 - 32 - - -0 -42
Result before tax 851 615 329 48 95 89 223 -259 1,991
Return on equity *) 18.4 % 23.2 % 17.6 %           13.9 %
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Group First half 2022                
Profit and loss account (NOKm) RM CM EM 1 SB 1 Finans MN SB 1 Regnskaps-huset SMN Other Uncollated Total
Net interest 597 644 2 222 0 - 97 1,563
Interest from allocated capital 51 42 - - - - -93 -
Total interest income 648 686 2 222 0 - 4 1,563
Comission income and other income 411 134 219 -49 343 - 19 1,077
Net return on financial investments **) -3 4 8 -13 - 152 -16 132
Total income 1,056 824 229 160 343 152 7 2,772
Total operating expenses 464 234 177 54 289 - -4 1,214
Ordinary operating profit 593 590 52 106 54 152 11 1,558
 Loss on loans, guarantees etc.  -10 -48 - 9 - - -0 -48
Result before tax 602 638 52 97 54 152 11 1,606
Return on equity *) 13.5 % 18.4 %           12.6 %
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Group 2022
Profit and loss account (NOKm) RM CM EM 1 SB 1 Finans MN SB 1 Regnskaps-huset SMN Other Uncollated Total
Net interest 1,328 1,380 3 459 2 - 167 3,339
Interest from allocated capital 163 125 - - - - -288 -
Total interest income 1,491 1,505 3 459 2 - -121 3,339
Comission income and other income 796 290 418 -106 605 - 39 2,042
Net return on financial investments **) -4 9 8 -23 - 466 -76 380
Total income 2,283 1,804 429 329 607 466 -158 5,760
Total operating expenses 958 467 371 108 511 - 28 2,443
Ordinary operating profit 1,325 1,337 58 221 96 466 -186 3,317
 Loss on loans, guarantees etc.  29 -66 - 30 - - -0 -7
Result before tax 1,296 1,403 58 191 96 466 -186 3,324
Return on equity *) 13.6 % 20.8 %           12.3 %
*) Regulatory capital is used as a basis for calculating capital used in the Private market and Business. This capital has been grossed up to 17.2 per cent to be in line with the bank's capital target. 
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**) Specification of other (NOKm) First half 2023 First half 2022 2022
SpareBank 1 Gruppen 30 29 175
SpareBank 1 Boligkreditt  63 -8 1
SpareBank 1 Næringskreditt 5 2 3
BN Bank 119 96 203
SpareBank 1 Kreditt -6 6 9
SpareBank 1 Betaling -20 -6 13
SpareBank 1 Forvaltning 16 18 33
Other companies 16 14 29
Income from investment in associates and joint ventures 223 152 466
SpareBank 1 Mobilitet Holding -13 -13 -23
Net income from investment in associates and joint ventures 209 139 442
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© SpareBank 1 SMN