Note 36 - ECC capital and ownership structure
ECC capital
The Bank's ECC capital totals NOK 2,373,257,150 distributed on 94,930,286 equity capital certificates (ECCs), each with a face value of NOK 25.
As at 31 December 2011 there was 9,531 ECC holders (9,654 as at 31 December 2010 and 9,526 as at 31 December 2009).
ECC capital has been raised by the following means:
| Year | Change | Change in ECC capital (NOK million) | Total ECC capital | No. of ECCs | |
| 1991 | Placing | 525 | 525 | 5,250,000 | |
| 1992 | Placing | 75 | 600 | 6,000,000 | |
| 2000 | Employee placing | 5 | 605 | 6,053,099 | |
| 2001 | Employee placing | 5 | 610 | 6,099,432 | |
| 2002 | Employee placing | 5 | 614 | 6,148,060 | |
| 2004 | Bonus Issue | 154 | 768 | 7,685,075 | |
| 2005 | Placing | 217 | 986 | 9,859,317 | |
| 2005 | Employee placing | 24 | 1,009 | 10,097,817 | |
| 2005 | Split | - | 1,009 | 40,391,268 | |
| 2005 | Rights issue | 253 | 1,262 | 50,489,085 | |
| 2007 | Dividend issue | 82 | 1,344 | 53,752,203 | |
| 2007 | Employee placing | 5 | 1,349 | 53,976,003 | |
| 2008 | Dividend issue | 91 | 1,440 | 57,603,748 | |
| 2008 | Employee placing | 6 | 1,447 | 57,861,806 | |
| 2009 | Bonus issue | 289 | 1,736 | 69,434,167 | |
| 2010 | Employee placing | 13 | 1,749 | 69,941,979 | |
| 2010 | Rights issue | 624 | 2,373 | 94,905,286 | |
| 2011 | Rights issue | 1 | 2,373 | 94,930,286 | |
| Parent Bank | |||||
| (NOK million) | 2011 | 2010 | 2009 | ||
| ECC capital | 2,373 | 2,372 | 1,734 | ||
| Dividend equalisation reserve | 1,457 | 1,160 | 876 | ||
| Premium reserve | 183 | 182 | -0 | ||
| Unrealised gains reserve | 43 | 28 | 62 | ||
| A. The equity capital certificate owners' capital | 4,056 | 3,742 | 2,671 | ||
| Ownerless capital | 2,611 | 2,345 | 2,155 | ||
| Unrealised gains reserve | 27 | 17 | 48 | ||
| B. The saving bank reserve | 2,638 | 2,362 | 2,203 | ||
| Other equity | 40 | 192 | 27 | ||
| Dividend declared | 190 | 285 | 174 | ||
| Equity ex. profit | 6,924 | 6,581 | 5,076 | ||
| Equity capital certificate ratio A/(A+B) | 60.6 % | 61.3 % | 54.8 % | ||
| Average of ratio | 61.3 % | 59.7 % | 55.7 % | ||
| 20 largest ECC holders | No. of ECCs | Holding | |||
| Reitangruppen AS | 6,872,514 | 7.24 % | |||
| Aker ASA / The Resource Group TRG | 2,860,966 | 3.01 % | |||
| Odin Norge | 2,648,658 | 2.79 % | |||
| Odin Norden | 2,145,049 | 2.26 % | |||
| Rasmussengruppen AS | 2,130,000 | 2.24 % | |||
| Vind LV AS | 2,085,151 | 2.20 % | |||
| MP Pensjon PK | 1,442,774 | 1.52 % | |||
| Frank Mohn AS | 1,442,236 | 1.52 % | |||
| Citibank N.A New York Branch (nominee) | 1,357,933 | 1.43 % | |||
| Morgan Stanley & Co. | 1,097,718 | 1.16 % | |||
| I.K. Lykke, T.Lykke m.fl. | 891,567 | 0.94 % | |||
| Stiftelsen Uni | 879,552 | 0.93 % | |||
| Tonsenhagen Forretningssentrum AS | 865,013 | 0.91 % | |||
| Forsvarets personellservice | 788,092 | 0.83 % | |||
| The Northern Trust Co. (nominee) | 767,163 | 0.81 % | |||
| Nordea Bank Norge ASA | 759,915 | 0.80 % | |||
| KLP Aksje Norden VPF | 744,475 | 0.78 % | |||
| VPF Nordea Norge Verdi | 674,523 | 0.71 % | |||
| State Street Bank & Trust Company (nominee) | 638,395 | 0.67 % | |||
| Odin Europa SMB | 633,251 | 0.67 % | |||
| The 20 largest ECC holders in total | 31,724,945 | 33.42 % | |||
| Others | 63,205,341 | 66.58 % | |||
| Total issued ECCs | 94,930,286 | 100 % | |||
Financial results
Annual report and notes
