Note 3 - 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 31 March 2024
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 460 341 149 2 130 1 - 224 1,306
Interest from allocated capital 101 58 37 - - - - -197 -
Total interest income 561 399 186 2 130 1 - 27 1,306
Comission income and other income 168 56 34 115 -22 216 - 5 572
Net return on financial investments **) -0 1 2 - - - 194 85 281
Total income 729 456 222 117 108 217 194 117 2,159
Total operating expenses 143 49 50 97 39 182 - 222 782
Ordinary operating profit 586 406 172 20 69 35 194 -105 1,377
 Loss on loans, guarantees etc.  11 18 -8 - 3 - - -0 24
Result before tax 575 389 180 20 66 35 194 -105 1,353
Return on equity *) 18.9 % 23.8 % 14.2 %           16.0 %
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Group 31 March 2023                
Profit and loss account (NOKm) RM CM EM 1 SB 1 Finans MN SB 1 Regnskaps-huset SMN Other Uncollated Total
Net interest 433 406 1 123 1 - 70 1,035
Interest from allocated capital 91 68 - - - - -158 -
Total interest income 524 474 1 123 1 - -88 1,035
Comission income and other income 181 63 105 -27 201 - 17 541
Net return on financial investments **) 1 4 - -7 - 131 -101 28
Total income 706 541 107 90 202 131 -172 1,604
Total operating expenses 325 127 89 30 158 - -0 728
Ordinary operating profit 381 413 18 59 44 131 -172 875
 Loss on loans, guarantees etc.  9 -86 - 7 - - -0 -71
Result before tax 372 500 18 53 44 131 -172 946
Return on equity *) 15.8 % 28.4 %           13.0 %
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Group 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 1,824 1,335 598 2 490 4 - 379 4,632
Interest from allocated capital 328 195 112 - - - - -634 -
Total interest income 2,151 1,530 709 2 490 4 - -255 4,632
Comission income and other income 652 234 110 432 -97 716 - 37 2,084
Net return on financial investments **) 1 6 7 1 -82 - 379 488 799
Total income 2,804 1,770 826 435 311 720 379 270 7,515
Total operating expenses 1,078 407 315 395 115 612 - 97 3,017
Ordinary operating profit 1,726 1,363 512 40 196 108 379 173 4,498
 Loss on loans, guarantees etc.  1 45 -118 - 86 - - -0 14
Result before tax 1,725 1,318 629 40 111 108 379 173 4,484
Return on equity *) 18.2 % 24.3 % 19.6 %           14.4 %
*) Regulatory capital is used as a basis for calculating capital used in the Private market and Business. 
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**) Specification of other (NOKm) 31 Mar 24 31 Mar 23 31 Dec 23
SpareBank 1 Gruppen 40 34 -34
SpareBank 1 Boligkreditt  33 33 98
SpareBank 1 Næringskreditt 4 2 10
BN Bank 84 62 257
SpareBank 1 Markets 25  -  19
SpareBank 1 Kreditt -4 -4 -13
SpareBank 1 Betaling -12 -8 -37
SpareBank 1 Forvaltning 10 8 35
Other companies 13 4 46
Income from investment in associates and joint ventures 194 131 379
SpareBank 1 Mobilitet Holding - -7 -82
Net income from investment in associates and joint ventures 194 125 297
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1st quarter 2024

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