Financial summary, last ten years

From the income statement (mNOK) 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002
Net interest and credit commission income 1,281 1,210 1,279 1,345 1,125 1,008 961 864 864 896
Commision and fee income 919 855 756 610 671 580 537 443 332 282
Operating expenses -1,482 -1,140 -1,253 -1,194 -1,103 -990 -906 -729 -733 -681
Operating profit before losses and return on financial investments 718 925 782 761 693 597 592 577 463 498
Income from investment in related companies 290 249 349 393 233 190 119 23 -5 -168
Return on financial investements 298 240 293 -181 113 245 170 55 81 -23
Loan losses and gains / write-downs on disposals of fixed assets 27 132 277 202 -6 -84 -38 81 229 229
Pre-tax operating profit 1,279 1,282 1,147 771 1,045 1,116 919 574 311 77
                     
From the balance sheet  (mNOK)                    
Total assets 101,455 97,992 84,541 84,679 71,503 63,178 54,327 38,505 36,876 35,991
Outstanding loans (gross) 73,105 69,847 61,782 64,016 59,178 52,819 45,280 34,226 32,553 31,089
Outstanding loans including transf. SpareBank 1 Boligkreditt (gross) 95,232 87,665 77,429 71,317 61,910          
Gross loans in retail market 55,034 49,619 45,157 42,679 38,872 33,898 29,032 21,491 20,008 17,961
Gross loans in corporate market 40,198 38,046 32,272 28,638 23,038 18,921 16,248 12,735 12,545 13,128
Deposits 47,871 42,786 37,227 35,280 32,434 30,136 27,048 20,725 19,876 19,049
Deposits from retail market 20,860 19,052 17,898 17,566 16,070 14,707 14,080 11,256 11,252 10,981
Deposits from corporate market 27,011 23,734 19,330 17,715 16,363 13,967 12,968 9,469 8,624 8,068
Growth in lending,  % 8.6 % 13.2 % 8.6 % 15.2 % 17.2 % 16.6 % 32.3 % 5.1 % 4.7 % 6.2 %
Growth in deposits, % 11.9 % 14.9 % 5.5 % 8.8 % 7.6 % 11.4 % 30.5 % 4.3 % 4.3 % 6.6 %
                     
Key figures and ratios                    
Return on equity 12.8 % 14.6 % 16.2 % 11.9 % 18.9 % 23.7 % 23.3 % 20.0 % 10.2 % 0.4 %
Cost-income ratio  53.2 % 44.6 % 46.8 % 55.1 % 51.5 % 49.0 % 50.7 % 52.7 % 57.6 % 69.0 %
                     
Core capital ratio 10.4 % 10.9 % 10.5 % 8.1 % 8.4 % 8.6 % 8.8 % 10.8 % 10.1 % 8.1 %
Capital adequacy ratio 12.0 % 13.0 % 13.6 % 11.9 % 12.1 % 11.9 % 10.9 % 12.7 % 13.9 % 11.1 %
                     
No. of staff 1,153 1,117 1,108 1,062 1,017 950 898 772 772 825
No. of person-years worked 1,109 1,035 1,017 973 940 841 806 637 713 718
No. of branches 54 54 55 56 56 58 62 56 56 56
                     
Key figures EC 1)                    
EC ratio 60.6 % 61.3 % 54.8 % 56.3 % 54.2 % 53.7 % 56.1 % 49.8 % 51.4 % 53.0 %
EC price (NOK) 39.30 54.00 49.02 22.85 54.65 61.65 59.19 41.60 29.05 17.55
Market value (mNOK) 3,731 5,124 3,749 1,750 3,900 4,140 3,951 2,113 1,476 891
Profit per EC (NOK) 6.61 6.43 6.73 4.49 6.16 6.57 5.63 2.91 2.34 0.66
Dividend per EC (NOK) 2.00 3.00 2.27 1.51 4.24 3.30 3.63 2.02 2.18 0.91
Booked equity capital per EC (including dividend) 54.44 50.61 44.89 40.03 38.35 35.06 31.85 26.31 24.05 22.69
P/E 5.94 8.40 7.29 5.09 8.87 9.38 10.52 14.28 12.43 26.67
Price / Booked equity capital 0.72 1.07 1.09 0.57 1.43 1.76 1.86 1.58 1.21 0.77

1) For definition of key figures for primary capital certificates, see chapter Equity capital certificates.

© SpareBank 1 SMN