Note 38 - Subordinated debt and hybrid capital issue
| Parent bank | Group | |||
| 31 Dec 2019 | 31 Dec 2020 | (NOK million) | 31 Dec 2020 | 31 Dec 2019 |
| Dated subordinated debt | ||||
| - | - | 2026 SpareBank 1 Finans Midt-Norge 16/26 | 43 | 43 |
| 150 | 150 | 2027 floating rate NOK (Call 2022) | 150 | 150 |
| 600 | 600 | 2027 floating rate NOK (Call 2022) | 600 | 600 |
| 250 | 250 | 2029 floating rate NOK (Call 2024) | 250 | 250 |
| 250 | 250 | 2028 floating rate NOK (Call 2023) | 250 | 250 |
| 500 | 500 | 2028 floating rate NOK (Call 2023) | 500 | 500 |
| 4 | 2 | Accrued interest | 3 | 5 |
| 1,754 | 1,752 | Total dated subordniated debt | 1,795 | 1,797 |
| Hybrid equity | ||||
| 211 | - | 10/99, fixed rate 8.25 % NOK (Call 2020) *) | - | 211 |
| 76 | - | 10/99, floating rate NOK (Call 2020) | - | 76 |
| 1 | - | Discount perpetual hybrid equity | - | 1 |
| 5 | - | Accrued interest | - | 5 |
| 293 | - | Total hybrid equity | - | 293 |
| 2,047 | 1,752 | Total subordinated loan capital and hybrid equity | 1,795 | 2,090 |
| 3.6 % | 2.4 % | Average rate NOK | 2.4 % | 3.6 % |
| Additional Tier 1 Capital | ||||
| - | - | 5/99 SpareBank 1 Finans Midt-Norge floating rate NOK (Call 2022) | 43 | 43 |
| 300 | 300 | 5/99 floating rate NOK (Call 2023) | 300 | 300 |
| 200 | 200 | 7/99 fixed rate 5.0 % NOK (Call 2025)*) | 200 | 200 |
| 300 | 300 | 5/99 floating rate NOK (Call 2023) | 300 | 300 |
| 200 | 200 | 5/99 floating rate NOK (Call 2023) | 200 | 200 |
| 250 | 250 | 5/99 floating rate NOK (Call 2024) | 250 | 250 |
| 1,250 | 1,250 | Total additional Tier 1 Capital | 1,293 | 1,293 |
| 4.5 % | 4.5 % | Average rate NOK | 4.5 % | 4.5 % |
| *) Fixed rate funding changed to floating rate by means of interest rate swaps | ||||
| Group | |||||||
| Changes in subordinated debt and hybrid equity issue | 31 Dec 2020 | Issued | Fallen due/ redeemed |
Other changes |
31 Dec 2019 | ||
| Ordinary subordinated debt, NOK | 1,793 | - | - | - | 1,793 | ||
| Hybrid capital loan, NOK | - | - | 287 | - | 287 | ||
| Adjustments | - | - | - | -1 | 1 | ||
| Accrued interest | 3 | - | - | -7 | 10 | ||
| Total subordinated debt and hybrid equity issue | 1,795 | - | 287 | -8 | 2,090 | ||
| Changes in additional Tier 1 Capital | 31 Dec 2020 | Issued | Fallen due/ redeemed |
Other changes |
31 Dec 2019 | ||
| Additional Tier 1 Capital, NOK | 1,293 | - | - | - | 1,293 | ||
| Total subordinated debt and hybrid equity issue | 1,293 | - | - | - | 1,293 | ||
| Changes in subordinated debt and hybrid equity issue | 31 Dec 2019 | Issued | Fallen due/ redeemed |
Other changes |
31 Dec 2018 | ||
| Ordinary subordinated debt, NOK | 1,793 | - | - | - | 1,793 | ||
| Hybrid capital loan, NOK | 287 | - | 164 | - | 450 | ||
| Adjustments | 1 | - | - | -11 | 13 | ||
| Accrued interest | 10 | - | - | -2 | 12 | ||
| Total subordinated debt and hybrid equity issue | 2,090 | - | 164 | -14 | 2,268 | ||
| Changes in additional Tier 1 Capital | 31 Dec 2019 | Issued | Fallen due/ redeemed |
Other changes |
31 Dec 2018 | ||
| Additional Tier 1 Capital, NOK | 1,293 | 250 | - | - | 1,043 | ||
| Total subordinated debt and hybrid equity issue | 1,293 | 250 | - | - | 1,043 | ||
Financial results
Annual report and notes
