Note 13 - Maximum credit risk exposure

The table below shows maximum exposure to credit risk for balance sheet components, including derivatives. Exposures are shown on a gross basis before collateral and permitted set-offs.

Parent Bank        
31 Dec 15 (NOK million) Maximum exposure to credit risk Collateral in property Collateral in securities Other collateral *)
Assets        
Balances with central banks 3,153 - - -
Loans and advances to credit institutions 5,883 - - -
Loans and advances to customers 89,596 68,169 1,651 15,025
Securities - designated at fair value through profit/loss 16,013 - - 7,437
Derivatives 7,606 - - 4,726
Securities - available for sale 76 - - -
Earned income, not yet recieved 23 - - -
Accounts receivable, securities 3 - - -
Total assets 122,353 68,169 1,651 27,189
         
Liabilities        
Guarantee commitments and documentary credits 7,173 - - -
Unutilised credits 15,706 3,928 256 2,570
Loan approvals 1,513 - - -
Total liabilities 24,392 3,928 256 2,570
         
Total credit risk exposure 146,745 72,097 1,907 29,759
         
31 Dec 14 (NOK million) Maximum exposure to credit risk Collateral in property Collateral in securities Other collateral *)
Assets        
Balances with central banks 4,498 - - -
Loans and advances to credit institutions 4,364 - - -
Loans and advances to customers 86,478 64,351 2,015 13,656
Securities - designated at fair value through profit/loss 14,430 - - 5,049
Derivatives 7,972 - - 4,402
Securities - available for sale 4 - - -
Earned income, not yet recieved 31 - - -
Accounts receivable, securities 8 - - -
Total assets 117,784 64,351 2,015 23,107
         
Liabilities        
Guarantee commitments and documentary credits 5,126 - - -
Unutilised credits 10,284 2,616 83 1,719
Loan approvals 1,230 - - -
Total liabilities 16,640 2,616 83 1,719
         
Total credit risk exposure 134,424 66,967 2,098 24,826

 

Group        
31 Dec 15 (NOK million) Maximum exposure to credit risk Collateral in property Collateral in securities Other collateral *)
Assets        
Balances with central banks 3,153 - - -
Loans and advances to credit institutions 2,407 - - -
Loans and advances to customers 93,415 68,169 1,651 15,025
Securities - designated at fair value through profit/loss 17,128 - - 7,437
Derivatives 7,524 - 9 4,726
Securities - available for sale 108 - - -
Earned income, not yet recieved 39 - - -
Accounts receivable, securities 200 - 197 -
Total assets 123,974 68,169 1,857 27,189
         
Liabilities        
Guarantee commitments and documentary credits 7,173 - - -
Unutilised credits 15,858 3,928 256 2,570
Loan approvals 1,745 - - -
Other exposures 42 - - -
Total liabilities 24,818 3,928 256 2,570
         
Total credit risk exposure 148,792 72,097 2,112 29,759
         
31 Dec 14 (NOK million) Maximum exposure to credit risk Collateral in property Collateral in securities Other collateral *)
Assets        
Balances with central banks 4,498 - - -
Loans and advances to credit institutions 1,289 - - -
Loans and advances to customers 90,112 64,351 2,015 16,942
Securities - designated at fair value through profit/loss 14,850 - - 5,049
Derivatives 7,877 - - 4,402
Securities - available for sale 35 - - -
Earned income, not yet recieved 39 - - -
Accounts receivable, securities 8 - - -
Total assets 118,707 64,351 2,015 26,394
         
Liabilities        
Guarantee commitments and documentary credits 5,126 - - -
Unutilised credits 10,311 2,616 83 1,736
Loan approvals 1,319 - - -
Other exposures 38 - - -
Total liabilities 16,794 2,616 83 1,736
         
Total credit risk exposure 135,501 66,967 2,098 28,129
*) Other collateral includes cash, movables, ship and guarantees received. For covered bonds the cover pool comprises loans to customers in the company that has issued the bond.

 

The Group’s maximum credit exposure is shown in the above table. SpareBank 1 SMN provides wholesale banking services to BN Bank and the Samspar banks. In this connection a guarantee agreement has been established which assures full settlement for exposures connected to these agreements. The Group has corresponding agreements with respect to the takeover of BN Bank’s portfolio in Ålesund. The value of the guarantee agreements is not included in the tables above.

The collateral is measured at fair value, limited to maximum credit exposure for the individual counterparty.

 

Credit risk exposure related to financial assets distributed by geographical area

Parent Bank   Group
31 Dec 2014 31 Dec 2015 (NOK million) 31 Dec 2015 31 Dec 2014
         
    Bank activities    
44,984 51,711 Sør-Trøndelag 49,177 41,646
24,387 25,585 Nord-Trøndelag 26,828 24,359
24,824 26,687 Møre og Romsdal 27,711 24,727
1,210 606 Sogn og Fjordane 649 1,209
1,429 1,070 Nordland 1,146 1,425
7,411 8,638 Oslo 9,098 11,622
7,130 6,813 Rest of Norway 7,469 7,133
642 1,941 Abroad 1,952 619
112,017 123,050 Total 124,032 112,740
         
    Financial instruments    
13,969 13,853 Norway 15,001 14,420
340 2,102 Europe/Asia 2,102 340
125 133 USA 133 125
7,972 7,606 Derivatives 7,524 7,877
22,406 23,695 Total 24,760 22,762
134,424 146,745 Total distributed by geographical area 148,792 135,501

Financial results

Annual report and notes

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