Note 7 - Losses

Parent Bank (NOKm)	1 Jan 24	Change in provision	Net write-offs /recoveries	Currency /Other movements	30 Jun 24
Loans as amortised cost- CM	671	30	-11	-	690
Loans as amortised cost- RM	43	15	-	-	58
Loans at fair value over OCI- RM	137	6	-	-	144
Loans at fair value over OCI- CM	13	3	-	-	16
Provision for expected credit losses on loans and guarantees	864	54	-11	-	908
Presented as
Provision for loan losses	776	29	-11	-	795
Other debt- provisons	53	27	-	-	80
Other comprehensive income - fair value adjustment	36	-2	-	-	33

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Parent Bank (NOKm)	1 Jan 23	Merge Søre Sunnmøre	Change in provision	Net write-offs /recoveries	30 Jun 23
Loans as amortised cost- CM	921	32	-92	-1	861
Loans as amortised cost- RM	35	11	7	-6	47
Loans at fair value over OCI- RM	147	0	-6	-	141
Loans at fair value over OCI- CM	2	0	8	-	11
Provision for expected credit losses on loans and guarantees	1,106	43	-82	-7	1,060
Presented as
Provision for loan losses	999	41	-75	-7	958
Other debt- provisons	67	2	-6	-	63
Other comprehensive income - fair value adjustment	40	-	-1	-	39

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Parent Bank (NOKm)	1 Jan 23	Merge Søre Sunnmøre	Change in provision	Net write-offs /recoveries	31 Dec 23
Loans as amortised cost- CM	921	32	-101	-181	671
Loans as amortised cost- RM	35	11	2	-5	43
Loans at fair value over OCI- RM	147	-	-10	-	137
Loans at fair value over OCI- CM	2	-	11	-	13
Provision for expected credit losses on loans and guarantees	1,106	43	-99	-186	864
Presented as
Provision for loan losses	999	41	-77	-186	776
Other debt- provisons	67	2	-16	-	53
Other comprehensive income - fair value adjustment	40	-	-5	-	36

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Group (NOKm)	1 Jan 24	Change in provision	Net write-offs /recoveries	Currency /Other movements	30 Jun 24
Loans as amortised cost- CM	777	33	-12	-	798
Loans as amortised cost- RM	68	9	-	-	77
Loans at fair value over OCI- RM	137	6	-	-	144
Loans at fair value over OCI- CM	13	3	-	-	16
Provision for expected credit losses on loans and guarantees	995	52	-12	-	1,034
Presented as
Provision for loan losses	907	27	-12	-2	922
Other debt- provisons	53	27	-	-	80
Other comprehensive income - fair value adjustment	36	-2	-	-	33

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Group (NOKm)	1 Jan 23	Merge Søre Sunnmøre	Change in provision	Net write-offs /recoveries	30 Jun 23
Loans as amortised cost- CM	976	32	-83	-1	924
Loans as amortised cost- RM	63	11	10	-6	78
Loans at fair value over OCI- RM	147	0	-6	-	141
Loans at fair value over OCI- CM	2	-	8	-	11
Provision for expected credit losses on loans and guarantees	1,188	43	-71	-7	1,154
Presented as
Provision for loan losses	1,081	41	-75	-7	1,052
Other debt- provisons	67	2	-6	-	63
Other comprehensive income - fair value adjustment	40	-	-1	-	39

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Group (NOKm)	1 Jan 23	Merge Søre Sunnmøre	Change in provision	Net write-offs /recoveries	31 Dec 23
Loans as amortised cost- CM	976	32	-44	-186	777
Loans as amortised cost- RM	63	11	-1	-5	68
Loans at fair value over OCI- RM	147	-	-10	-	137
Loans at fair value over OCI- CM	2	-	11	-	13
Provision for expected credit losses on loans and guarantees	1,188	43	-44	-192	995
Presented as
Provision for loan losses	1,081	41	-23	-192	907
Other debt- provisons	67	2	-16	-	53
Other comprehensive income - fair value adjustment	40	-	-5	-	36

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Accrual for losses on loans
	30 Jun 2024				30 Jun 2023				31 Dec 2023
Parent Bank (NOKm)	Stage 1	Stage 2	Stage 3	Total	Stage 1	Stage 2	Stage 3	Total	Stage 1	Stage 2	Stage 3	Total
Retail market
Opening balance	38	95	45	179	46	93	42	181	46	93	42	181
Transfer to (from) stage 1	16	-16	-0	-	21	-20	-0	-	18	-18	-0	-
Transfer to (from) stage 2	-2	2	-1	-	-3	3	-0	-	-3	3	-0	-
Transfer to (from) stage 3	-1	-6	7	-	-0	-6	6	-	-0	-8	9	-
Net remeasurement of loss allowances	-17	32	20	35	-17	-13	-4	-34	-26	19	-5	-12
Originations or purchases	9	8	1	18	0	5	6	12	15	20	3	37
Derecognitions	-7	-15	-3	-25	-9	-17	-4	-30	-14	-31	-4	-49
Changes due to changed input assumptions	-1	-6	-0	-7	4	48	12	64	3	16	8	27
Actual loan losses	0	0	-	-	-	-	-6	-6	0	0	-5	-5
Closing balance	36	95	69	200	42	93	52	187	38	95	45	179
Corporate Market
Opening balance	160	267	205	633	138	298	421	858	138	298	421	858
Transfer to (from) stage 1	35	-35	-0	-	42	-39	-3	-	59	-59	-0	-
Transfer to (from) stage 2	-6	8	-2	-	-14	21	-7	-	-14	24	-10	-
Transfer to (from) stage 3	-7	-2	8	-	-0	-3	3	-	-1	-5	6	-
Net remeasurement of loss allowances	-39	77	24	62	15	-22	11	4	-58	11	9	-38
Originations or purchases	41	17	6	64	6	6	18	30	90	35	37	163
Derecognitions	-22	-80	-13	-115	-27	-33	-6	-66	-52	-68	-15	-136
Changes due to changed input assumptions	-5	8	-8	-5	17	-3	-29	-14	-2	31	-62	-33
Actual loan losses	-	-	-11	-11	-	-	-1	-1	-	-	-181	-181
Closing balance	157	261	210	628	177	225	408	810	160	267	205	633
Total accrual for loan losses	193	356	279	828	219	318	460	997	198	363	251	812

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	30 Jun 2024				30 Jun 2023				31 Dec 2023
Group (NOKm)	Stage 1	Stage 2	Stage 3	Total	Stage 1	Stage 2	Stage 3	Total	Stage 1	Stage 2	Stage 3	Total
Retail market
Opening balance	46	111	46	204	55	107	47	209	55	107	47	209
Transfer to (from) stage 1	21	-21	-0	-	22	-22	-0	-	21	-20	-1	-
Transfer to (from) stage 2	-2	3	-1	-	-4	4	-0	-	-4	5	-1	-
Transfer to (from) stage 3	-1	-7	9	-	-0	-7	8	-	-1	-10	11	-
Net remeasurement of loss allowances	-20	35	19	34	-18	-8	-1	-26	-28	25	-6	-9
Originations or purchases	11	9	1	21	3	7	6	16	19	25	3	47
Derecognitions	-8	-17	-3	-28	-10	-19	-7	-36	-17	-34	-7	-58
Changes due to changed input assumptions	-3	-9	-0	-12	3	46	12	60	-0	14	7	21
Actual loan losses	-	-	-	-	-	-	-6	-6	-	-	-5	-5
Closing balance	44	105	70	219	51	108	58	218	46	111	46	204
Corporate Market
Opening balance	172	299	268	739	151	311	450	912	151	311	450	912
Transfer to (from) stage 1	37	-37	-0	-	44	-41	-3	-	63	-63	-0	-
Transfer to (from) stage 2	-7	9	-2	-	-15	22	-7	-	-18	28	-10	-
Transfer to (from) stage 3	-7	-3	10	-	-1	-3	4	-	-1	-6	7	-
Net remeasurement of loss allowances	-39	83	26	69	16	-16	13	13	-59	22	60	23
Originations or purchases	44	22	6	72	13	7	19	39	96	46	38	181
Derecognitions	-24	-82	-13	-119	-27	-34	-7	-68	-54	-70	-16	-140
Changes due to changed input assumptions	-6	2	-10	-14	16	-3	-35	-23	-5	29	-75	-51
Actual loan losses	-	-	-12	-12	-	-	-1	-1	-	-	-186	-186
Closing balance	170	293	272	735	197	243	433	873	172	299	268	739
Total accrual for loan losses	214	398	343	955	249	351	491	1,091	218	410	314	943

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Accrual for losses on guarantees and unused credit lines
	30 Jun 2024				30 Jun 2023				31 Dec 2023
Parent Bank and Group (NOKm)	Stage 1	Stage 2	Stage 3	Total	Stage 1	Stage 2	Stage 3	Total	Stage 1	Stage 2	Stage 3	Total
Opening balance	18	27	8	53	24	34	9	67	24	34	9	67
Transfer to (from) stage 1	11	-11	-0	-	3	-3	-0	-	6	-6	-0	-
Transfer to (from) stage 2	-0	1	-0	-	-2	2	-0	-	-2	2	-0	-
Transfer to (from) stage 3	-0	-0	1	-	-0	-0	0	-	-0	-1	1	-
Net remeasurement of loss allowances	-13	0	30	18	-0	-5	-2	-7	-13	-4	2	-15
Originations or purchases	11	3	0	14	2	1	-	2	9	4	0	13
Derecognitions	-3	-2	-0	-5	-3	-6	-0	-9	-6	-8	-1	-15
Changes due to changed input assumptions	-0	1	-0	1	0	7	3	10	0	5	-3	2
Actual loan losses	-	-	-	-	-	-	-	-	-	-	-	-
Closing balance	23	18	38	80	23	30	10	63	18	27	8	53
Of which
Retail market				1				2				1
Corporate Market				78				61				51

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Provision for credit losses specified by industry
	30 Jun 2024				30 Jun 2023				31 Dec 2023
Parent Bank (NOKm)	Stage 1	Stage 2	Stage 3	Total	Stage 1	Stage 2	Stage 3	Total	Stage 1	Stage 2	Stage 3	Total
Agriculture and forestry	3	43	25	71	3	33	18	55	3	44	10	57
Fisheries and hunting	6	78	0	84	11	26	0	38	6	33	0	39
Sea farming industries	8	0	8	16	6	2	0	9	5	0	0	5
Manufacturing	13	33	25	71	15	27	2	44	15	31	13	59
Construction, power and water supply	26	25	29	80	47	25	18	90	46	25	28	99
Retail trade, hotels and restaurants	17	24	11	51	9	9	4	23	8	13	1	23
Maritime sector	7	11	101	119	10	39	160	209	7	54	103	164
Property management	39	58	19	116	55	73	21	149	44	92	22	159
Business services	23	24	5	51	12	16	187	215	17	16	24	57
Transport and other services	18	11	8	37	10	10	15	36	10	6	13	29
Public administration	0	-	-	0	0	-	-	0	0	-	-	0
Other sectors	1	1	0	2	1	0	0	1	1	0	-	1
Wage earners	1	48	48	97	1	56	34	91	1	47	35	83
Total provision for losses on loans	160	356	279	795	180	318	460	958	163	363	251	776
loan loss allowance on loans at FVOCI	33	-	-	33	39	-	-	39	36	-	-	36
Total loan loss allowance	193	356	279	828	219	318	460	997	198	363	251	812

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	30 Jun 2024				30 Jun 2023				31 Dec 2023
Group (NOKm)	Stage 1	Stage 2	Stage 3	Total	Stage 1	Stage 2	Stage 3	Total	Stage 1	Stage 2	Stage 3	Total
Agriculture and forestry	3	44	26	74	5	35	19	59	4	46	10	60
Fisheries and hunting	6	78	0	85	12	27	0	38	6	33	0	39
Sea farming industries	8	0	8	17	7	2	0	10	6	0	0	6
Manufacturing	16	36	28	80	18	31	2	51	18	36	13	68
Construction, power and water supply	27	45	31	103	51	29	30	110	46	42	33	121
Retail trade, hotels and restaurants	19	26	11	56	13	13	5	31	11	15	2	28
Maritime sector	7	11	101	119	10	39	160	209	7	54	103	164
Property management	39	58	19	117	56	73	21	150	45	93	22	160
Business services	25	25	60	111	16	18	194	228	19	18	78	114
Transport and other services	20	15	9	45	14	14	20	48	12	11	16	39
Public administration	0	0	-	0	0	-	-	0	0	-	-	0
Other sectors	1	1	0	2	1	0	0	1	1	0	-	1
Wage earners	8	58	49	115	9	69	39	117	8	62	36	106
Total provision for losses on loans	181	398	343	922	210	351	491	1,052	183	410	314	907
loan loss allowance on loans at FVOCI	33	-	-	33	39	-	-	39	36	-	-	36
Total loan loss allowance	214	398	343	955	249	351	491	1,091	218	410	314	943

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