Note 39 - Investments in owner interests
Subsidiaries, associates, joint ventures and companies held for sale.
| Company | Company number | Registered office | Stake in per cent |
| Investment in significant subsidiaries | |||
| EiendomsMegler 1 Midt-Norge | 936159419 | Trondheim | 87.0 |
| SpareBank 1 Regnskapshuset SMN | 936285066 | Trondheim | 88.7 |
| SpareBank 1 Invest | 990961867 | Trondheim | 100.0 |
| SpareBank 1 Finans Midt-Norge | 938521549 | Trondheim | 61.2 |
| SpareBank 1 SMN Kvartalet | 990283443 | Trondheim | 100.0 |
| SpareBank 1 Bygget Steinkjer | 934352718 | Trondheim | 100.0 |
| St. Olavs Plass | 999263380 | Trondheim | 100.0 |
| SpareBank 1 Bilplan | 979945108 | Trondheim | 100.0 |
| SpareBank 1 Markets | 992999101 | Oslo | 66.7 |
| SpareBank 1 SMN Spire Finans | 916585837 | Trondheim | 100.0 |
| Shares owned by subsidiaries and sub-subsidiaries | |||
| GMA Invest | 994469096 | Trondheim | 100.0 |
| Sentrumsgården | 975856828 | Leksvik | 24.0 |
| Aqua Venture | 891165102 | Trondheim | 37.6 |
| Omega-3 Invest | 996814262 | Namsos | 33.6 |
| Tjeldbergodden Utvikling | 979615361 | Aure | 35.3 |
| Grilstad Marina | 991340475 | Trondheim | 35.0 |
| GMN 6 | 994254707 | Trondheim | 30.0 |
| GMN 51 | 996534316 | Trondheim | 30.0 |
| GMN 52 | 996534413 | Trondheim | 30.0 |
| GMN 53 | 996534502 | Trondheim | 30.0 |
| Brauten Eiendom | 917066221 | Trondheim | 100.0 |
| SpareBank 1 Kapitalforvaltning | 980300609 | Trondheim | 100.0 |
| SpareBank 1 Capital Markets | New York | 100.0 | |
| Leksvik Regnskapskontor | 980491064 | Leksvik | 50.0 |
| Viken Regnskap | 976108418 | Stjørdal | 100.0 |
| Reinheim Regnskap | 974376113 | Lesja | 100.0 |
| Investment in joint ventures | |||
| SpareBank 1 Gruppen | 975966372 | Tromsø | 19.5 |
| SpareBank 1 Utvikling | 986401598 | Oslo | 18.0 |
| Investment in associates | |||
| SpareBank 1 Boligkreditt | 988738387 | Stavanger | 20.9 |
| BN Bank | 914864445 | Trondheim | 35.0 |
| SpareBank 1 Næringskreditt | 894111232 | Stavanger | 31.0 |
| Bjerkeløkkja | 998534976 | Oppdal | 40.7 |
| SpareBank 1 Kredittkort | 975966453 | Trondheim | 17.3 |
| SMB Lab | 917143501 | Trondheim | 20.0 |
| Proaware | 995756080 | Tromsø | 20.0 |
| SpareBank 1 Betaling | 919116749 | Oslo | 21.5 |
| Investment in companies held for sale | |||
| Mavi XV | 890899552 | Trondheim | 100.0 |
| Mavi XXV | 999239242 | Trondheim | 100.0 |
| Mavi XXVIII | 999239455 | Trondheim | 100.0 |
| Byscenen Kongensgt 19 | 992237899 | Trondheim | 94.0 |
Shares in subsidiaries, Parent Bank
Recorded at acquisition cost in the Parent Bank. Full consolidation in the Group accounts. Total costs include tax charge. The booked value of subsidiaries in the tables below is the Parent Bank’s booked value. Profit or loss show the company's net profit.
| 2019 (NOK million) | Company's share capital (NOK 000's) | No. Of shares | Nominal value (NOK 000's) | Assets | Liabilities | Equity | NCI of equity1) | Total income | Total expenses | Profit or loss | NCI of profit or loss1) | Book value 31.12 |
| SpareBank 1 Finans Midt-Norge AS | 922,590 | 92,259 | 10.0 | 8,861 | 7,567 | 1,295 | 458 | 527 | 413 | 114 | 43 | 666 |
| Total investments in credit institutions | 666 | |||||||||||
| EiendomsMegler 1 Midt-Norge | 66,611 | 5,505 | 12.1 | 309 | 140 | 169 | 22 | 390 | 389 | 1 | 0 | 155 |
| SpareBank 1 SMN Kvartalet | 30,200 | 30,200 | 1.0 | 318 | 221 | 97 | 0 | 34 | 26 | 7 | - | 126 |
| SpareBank 1 Regnskapshuset SMN | 19,278 | 238 | 81.0 | 527 | 161 | 367 | 42 | 505 | 420 | 85 | 10 | 231 |
| SpareBank 1 Invest | 457,280 | 457,280 | 1.0 | 603 | 39 | 564 | - | 52 | 6 | 47 | - | 540 |
| SpareBank 1 Bygget Steinkjer | 6,100 | 100 | 61.0 | 50 | 14 | 36 | - | 4 | 3 | 1 | - | 40 |
| SpareBank 1 Card Solution | 10,000 | 100,000 | 0.1 | 80 | 26 | 54 | - | 7 | 5 | 3 | - | 50 |
| St. Olavs Plass | 5,769 | 41,206 | 0.1 | 5 | 1 | 4 | - | 4 | 2 | 1 | - | 4 |
| SpareBank 1 Bilplan | 529,221 | 3,168,991 | 0.2 | 3,669 | 2,950 | 718 | 239 | 626 | 583 | 43 | 14 | 456 |
| SpareBank 1 Markets | 4,503 | 75,044,932 | 0.0 | 106 | 56 | 51 | - | 21 | 40 | - 20 | - | 41 |
| Total investments in other subsidiaries | 1,643 | |||||||||||
| Total investments in Group companies, Parent Bank | 2,309 | |||||||||||
| 1)Non-controlling interests | ||||||||||||
| 2018 (NOK million) | Company's share capital (NOK 000's) | No. Of shares | Nominal value (NOK 000's) | Assets | Liabilities | Equity | NCI of equity1) | Total income | Total expenses | Profit or loss | NCI of profit or loss 1) | Book value 31.12 |
| SpareBank 1 Finans Midt-Norge AS | 772,590 | 77,259 | 10.0 | 7,723 | 6,580 | 1,143 | 364 | 337 | 226 | 111 | 39 | 602 |
| Total investments in credit institutions | 602 | |||||||||||
| EiendomsMegler 1 Midt-Norge | 66,611 | 5,505 | 12.0 | 276 | 91 | 186 | 24 | 496 | 517 | -20 | -3 | 143 |
| SpareBank 1 SMN Kvartalet | 98,753 | 30,200 | 0.0 | 310 | 10 | 300 | - | 30 | 24 | 5 | - | 332 |
| SpareBank 1 Regnskapshuset SMN | 18,564 | 238 | 78,0 | 394 | 112 | 282 | 13 | 444 | 390 | 54 | 2 | 201 |
| SpareBank 1 Invest | 457,280 | 457,280 | 1.0 | 793 | 45 | 748 | - | 13 | 6 | 7 | - | 739 |
| SpareBank 1 Bygget Steinkjer | 6,100 | 100 | 61.0 | 49 | 1 | 49 | - | 4 | 3 | 1 | - | 53 |
| SpareBank 1 Card Solution | 200 | 2,000 | 0.1 | 5 | 0 | 5 | - | 2 | 2 | 0 | - | 5 |
| St. Olavs Plass | 10,000 | 100,000 | 0.1 | 78 | 1 | 77 | - | 7 | 6 | 1 | - | 75 |
| SpareBank 1 Bilplan | 5,759 | 41,206 | 0.1 | 5 | 3 | 3 | - | 8 | 10 | -2 | - | 4 |
| SpareBank 1 Markets | 529,221 | 3,168,991 | 0.2 | 2,258 | 1,582 | 676 | 225 | 551 | 535 | 16 | 5 | 456 |
| Total investments in other subsidiaries | 2,008 | |||||||||||
| Total investments in Group companies, Parent Bank | 2,610 | |||||||||||
| 1) Non-controlling interests | ||||||||||||
Shares in associates and joint ventures
Associates and joint ventures are recorded at acquisition cost in the Parent Bank. Group figures are presented by the equity method.
| Parent Bank | Group | |||||
| 2018 | 2019 | (NOK million) | 2019 | 2018 | ||
| 3,940 | 4,309 | As at 1 January | 6,098 | 5,638 | ||
| 369 | 221 | Acquisition/sale | 210 | 168 | ||
| -4 | Write-down | - | - | |||
| - | - | Equity capital changes | -15 | -74 | ||
| - | - | Profit share | 879 | 437 | ||
| - | - | Dividend paid | -704 | -410 | ||
| 4,309 | 4,526 | Book value as at 31 December | 6,468 | 6,098 | ||
| Specification of year's change, Group | Additions/disposal | Equtiy change |
| SpareBank 1 Gruppen | - | 2 |
| SpareBank 1 Boligkreditt | 153 | -12 |
| SpareBank 1 Næringskreditt | -40 | -1 |
| SpareBank 1 Kredittkort | -1 | 2 |
| Sparebank 1 Betaling | 22 | -0 |
| BN Bank | 83 | -4 |
| Other companies | -7 | -3 |
| Sum | 210 | -15 |
Dividends from investments in associates and joint ventures
| (NOK million) | 2019 | 2018 |
| SpareBank 1 Gruppen | 663 | 287 |
| SpareBank 1 Boligkreditt | - | 14 |
| BN Bank | - | - |
| SpareBank 1 Næringskreditt | 15 | 17 |
| SpareBank 1 Kredittkort | 25 | 38 |
| Total income from associates and joint ventures | 704 | 355 |
Company information on the Group's stakes in associates and joint ventures
The tables below contain company or Group accounting figures on a 100 per cent share basis, except for profit share which is stated as the SMN Group’s share. Booked value is the consolidated value in the SMN Group.
| 2019 (NOK million) | Assets | Liabilities | Total income | Total costs | Profit share | Book value 31.12 | No. of shares |
| SpareBank 1 Gruppen | 93,560 | 82,689 | 25,820 | 24,317 | 7121) | 1,609 | 381,498 |
| SpareBank 1 Boligkreditt | 245,621 | 233,340 | 260 | 92 | 26 | 2,319 | 15,898,802 |
| SpareBank 1 Næringskreditt | 11,411 | 9,316 | 92 | 30 | 21 | 650 | 5,034,161 |
| SpareBank 1 Kredittkort | 5,817 | 4,794 | 548 | 473 | 13 | 177 | 498,720 |
| Sparebank 1 Betaling | 773 | 4 | 0 | 58 | 3 | 166 | 3,980,651 |
| BN Bank | 31,917 | 27,620 | 768 | 441 | 107 | 1,425 | 4,943,072 |
| Other companies | - | - | - | - | -2 | 123 | - |
| Total | 879 | 6,468 | |||||
1) incl earnings sale ownership interest to DNB in Fremtind Forsikring NOK 460 million
| 2018 (NOK million) | Assets | Liabilities | Total income | Total costs | Profit share | Book value 31.12 | No. of shares |
| SpareBank 1 Gruppen | 75,383 | 67,177 | 13,719 | 12,239 | 289 | 1,558 | 381,498 |
| SpareBank 1 Boligkreditt | 245,521 | 233,938 | 3,578 | 3,573 | -7 | 2,152 | 14,879,609 |
| SpareBank 1 Næringskreditt | 13,365 | 11,287 | 262 | 211 | 15 | 685 | 5,353,070 |
| SpareBank 1 Kredittkort | 5,948 | 4,867 | 1,122 | 991 | 23 | 188 | 502,131 |
| Sparebank 1 Betaling | 656 | 0 | - | 57 | -12 | 141 | 1,635 |
| BN Bank | 29,021 | 24,739 | 658 | 364 | 92 | 1,239 | 4,658,389 |
| Other companies | - | - | - | - | 17 | 135 | - |
| Total | 416 | 6,098 | |||||
Companies held for sale
SpareBank 1 SMN owns 100 per cent of Mavi XV AS due to defaulted loans. SpareBank 1 SMN's strategy is that ownership due to defaulted exposures should at the outset be of brief duration, normally not longer than one year. Investments are recorded at fair value in the Parent Bank's accounts. In the Group accounts one-line consolidation is undertaken.
| 2019 (NOK million) | Assets | Liabilities | Total income | Total costs | Company's result of the year |
No. of shares |
| Mavi XV AS konsern | 40 | 0 | 5 | -5 | 0 | 100% |
| 2018 (NOK million) | Assets | Liabilities | Total income | Total costs | Company's result of the year |
No. of shares |
| Mavi XV AS konsern | 43 | 1 | 5 | -1 | 5 | 100% |
| SpareBank 1 Kvartalet AS | - | - | 144 | - | 144 | 100% |
| 43 | 1 | 148 | -1 | 149 |
Financial results
Annual report and notes
