Note 41 - Significant transactions with related companies

In this context ‘related parties’ means subsidiaries, associated companies, joint ventures and companies held for sale over which the Bank exercises substantial influence, as well as SpareBank 1 SMN Pensjonskasse (pension fund) and companies owned by the Bank’s personal related parties. The Bank’s outstanding accounts with employees and members of the Board of Directors are shown in note 8 on loans and advances to customers and The executive pay report published on The opening balance may differ from the previous year's closing balance as the opening balance includes companies that during the fiscal year have been classified as related partied of the Bank.

  Subsidiaries Other related companies
Loans (NOK million) 2021 2020 2021 2020
Outstanding loans as at 1.1 8,508 7,850 4,643 4,581
Loans issued in the period 1,014 619 98 5
Repayments 852 0 111 3
Outstanding loans as at 31.12 8,670 8,468 4,629 4,582
Interest rate income 108 147 6 6
Bonds and subordinated loans as at 31.12 157 157 614 1,509
Deposits (NOK million)        
Deposits as at 1.1 1,445 1,547 2,037 961
Contribution received during the period 51,267 46,949 425,269 290,229
Withdrawals 51,286 47,032 426,062 289,255
Deposits as at 31.12 1,426 1,464 1,244 1,934
Interest rate expenses 9 14 3 8
Securities trading 73 8 - -
Commission income SpareBank 1 Boligkreditt - - 449 408
Commission income SpareBank 1 Næringskreditt - - 14 13
Issued guarantees and amount guaranteed 6 110 20 20
Eksporter til Excel


Loans and deposits
All loans and deposits for related parties are booked in the Parent Bank.

Securities trading

SpareBank 1 SMN's treasury department and subsidiary Sparebank 1 Markets, through outsourced business, carry out a large number of transactions with the Bank's related companies. Transactions are executed on a ongoing basis in the fixed income and forex area, payments transmission, bond trading etc. These transactions are part of ordinary bank operations and all agreements are contracted on market terms. Numbers above includes  net investmens in derivatives, bond transactions and deposits.

Other transactions

SpareBank 1 SMN has signed supply agreements with several related companies in order to safeguard ordinary banking operations and further development of the SpareBank 1 Alliance. This includes development of data-technical solutions for alliance collaboration, commission from insurance and savings and investment products, administrative services, leasing of premises etc. The agreements are considered to be on market terms. In addition the Bank participates in increases of capital in related companies; see note 39 on investment in owner interests.


Annual report and notes

© SpareBank 1 SMN