Note 41 - ECC capital and ownership structure
The Bank's ECC capital totals NOK 2,596,728,860 distributed on 129,836,443 equity capital certificates (ECCs), each with a face value of NOK 20. As at 31 December 2012 there was 9,443 ECC holders (9,531 as at 31 December 2011). 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 | |
| 2012 | Reduction in nominal value | -475 | 1,898 | 94,930,286 | |
| 2012 | Rights issue | 570 | 2,468 | 123,407,456 | |
| 2012 | Employee placing | 16 | 2,484 | 124,218,466 | |
| 2012 | Placing | 112 | 2,596 | 129,836,443 | |
| Parent Bank | ||||
| (NOK million) | 2012 | 2011 | ||
| ECC capital | 2,597 | 2,373 | ||
| Dividend equalisation reserve | 1,889 | 1,457 | ||
| Premium reserve | 895 | 183 | ||
| Unrealised gains reserve | 69 | 43 | ||
| A. The equity capital certificate owners' capital | 5,449 | 4,055 | ||
| Ownerless capital | 2,944 | 2,611 | ||
| Unrealised gains reserve | 38 | 28 | ||
| B. The saving bank reserve | 2,982 | 2,639 | ||
| Other equity | 30 | 40 | ||
| Dividend declared | 195 | 190 | ||
| Equity ex. profit | 8,656 | 6,924 | ||
| Equity capital certificate ratio A/(A+B) | 64.64 % | 60.58 % | ||
| Average of ratio | 63.33 % | 61.25 % | ||
| 20 largest ECC holders | No. of ECCs | Holding |
| Reitangruppen AS | 9,019,108 | 6.95 % |
| Sparebankstiftelsen SpareBank 1 SMN | 3,965,391 | 3.05 % |
| Aker ASA/The Resource Group TRG | 3,719,255 | 2.86 % |
| Odin Norge | 3,515,754 | 2.71 % |
| Morgan Stanley & Co. | 3,043,342 | 2.34 % |
| Odin Norden | 2,899,083 | 2.23 % |
| Frank Mohn AS | 2,876,968 | 2.22 % |
| Vind LV AS | 2,736,435 | 2.11 % |
| MP Pensjon PK | 2,043,415 | 1.57 % |
| Citibank N.A New York Branch (nominee) | 1,899,745 | 1.46 % |
| Verdipapirfondet Fondsfinans Spar | 1,670,000 | 1.29 % |
| Stenshagen Invest AS | 1,477,361 | 1.14 % |
| State Street Bank & Trust Company (nominee) | 1,251,305 | 0.96 % |
| Danske Invest Norske Aksjer Inst. II | 1,215,581 | 0.94 % |
| Odin Europa SMB | 1,206,937 | 0.93 % |
| I.K. Lykke, T.Lykke m.fl. | 1,161,567 | 0.89 % |
| Tonsenhagen Forretningssentrum AS | 1,135,193 | 0.87 % |
| Forsvarets personellservice | 1,034,246 | 0.80 % |
| KLP Aksje Norden VPF | 977,006 | 0.75 % |
| Danske Invest Norske Aksjer Inst. I | 886,445 | 0.68 % |
| The 20 largest ECC holders in total | 47,734,137 | 36.76 % |
| Others | 82,102,306 | 63.24 % |
| Total issued ECCs | 129,836,443 | 100.00 % |
Financial results
Annual report and notes
