Main figures

  Second Quarter First half  
From the income statement (NOKm)2) 2023 2022 2023 2022 2022
Net interest  1,094 803 2,129 1,563 3,339
Net commission income and other income 561 555 1,102 1,077 2,042
Net return on financial investments  103 -43 131 132 380
Total income 1,757 1,316 3,361 2,772 5,760
Total operating expenses 683 585 1,411 1,214 2,443
Results before losses 1,074 731 1,950 1,558 3,317
Loss on loans, guarantees etc 29 -48 -42 -48 -7
Results before tax 1,045 779 1,991 1,606 3,324
Tax charge 159 164 365 329 718
Result investment held for sale, after tax 37 87 74 123 179
Net profit 923 702 1,701 1,400 2,785
Interest Tier 1 Capital 26 12 60 33 63
Net profit excl. Interest Tier 1 Capital 897 690 1,641 1,367 2,722
           
Balance sheet figures     30 Jun 2023 30 Jun 2022 31 Dec 2022
Gross loans to customers      166,819 148,681 152,629
Gross loans to customers incl. SB1 Boligkreditt and SB1 Næringskreditt     232,100 205,504 211,244
Deposits from customers     140,164 123,812 122,010
Average total assets     233,442 207,777 213,112
Total assets     248,806 217,458 223,110
           
  Second Quarter First half  
Key figures 2023 2022 2023 2022 2022
           
Profitability1)          
Return on equity 15.1 % 12.9 % 13.9 % 12.6 % 12.3 %
Cost-income ratio2) 39 % 44 % 42 % 44 % 42 %
Deposit-to-loan ratio excl. SB1 Boligkreditt and SB1 Næringskreditt 84 % 83 % 84 % 83 % 80 %
Deposit-to-loan ratio incl. SB1 Boligkreditt and SB1 Næringskreditt 60 % 60 % 60 % 60 % 58 %
Growth in loans (gross) last 12 months (incl. SB1 Boligkreditt and SB1 Næringskreditt) 8.5 % 2.8 % 12.9 % 8.7 % 8.1 %
Growth in deposits last 12 months 13.5 % 8.6 % 13.2 % 12.4 % 9.6 %
           
Losses in % of gross loans incl. SB1 Boligkreditt and SB1 Næringskreditt 1)          
Impairment losses ratio 0.05 % -0.09 % -0.04 % -0.05 % 0.00 %
Stage 3 as a percentage of gross loans 0.99 % 1.08 % 0.99 % 1.08 % 0.97 %
           
Solidity     30 Jun 2023 30 Jun 2022 31 Dec 2022
Capital ratio     23.5 % 22.7 % 23.1 %
Tier 1 capital ratio     21.0 % 20.4 % 20.9 %
Common equity Tier 1 capital ratio     19.1 % 18.8 % 18.9 %
Tier 1 capital     24,192 20,547 21,835
Total eligible capital     27,106 22,910 24,147
Liquidity Coverage Ratio (LCR)     188 % 204 % 239 %
Leverage Ratio     7.2 % 6.9 % 7.1 %
           
Branches and staff     30 Jun 2023 30 Jun 2022 31 Dec 2022
Number of branches     46 40 40
No. Of full-time positions2)     1,497 1,436 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  First half 2023 First half 2022 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) 143.80 129.31 129.29 129.39 129.39 129.30
ECC share price at end of period (NOK) 141.00 115.80 127.40 149.00 97.60 100.20
Stock value (NOKM) 20,275 14,974 16,471 19,279 12,629 12,956
Booked equity capital per ECC (including dividend) 1) 112.81 102.91 109.86 103.48 94.71 90.75
Profit per ECC, majority 1) 7.82 6.39 12.82 13.31 8.87 12.14
Dividend per ECC     6.50 7.50 4.40 6.50
Price-Earnings Ratio 1) 9.01 9.06 9.94 11.19 11.01 8.26
Price-Book Value Ratio 1) 1.25 1.13 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