Note 4 - Segment information

Accounting Policy

SpareBank 1 SMN has Retail Banking and Corporate Banking, along with the most important subsidiaries and associates as its primary reporting segments. The group presents a sectoral and industry distribution of loans and deposits as its secondary reporting format. The group’s segment reporting is in conformity with IFRS 8. For the subsidiaries the figures refer to the respective company accounts, while for associates and joint ventures incorporated by the equity method the Group’s profit share is stated, after tax, as well as book value of the investment at group level. 

Group 31 December 2023                  
Profit and loss account (NOKm) RM CM Sunnmøre
og
Fjordane
EM 1 SB 1 Finans MN SB 1 Regnskaps-huset SMN Other Uncollated Total
Net interest 1,824 1,335 598 2 490 4 - 379 4,632
Interest from allocated capital 328 195 112 - - - - -634 -
Total interest income 2,151 1,530 709 2 490 4 - -255 4,632
Comission income and other income 652 234 110 432 -97 716 - 37 2,084
Net return on financial investments **) 1 6 7 1 -82 - 379 488 799
Total income 2,804 1,770 826 435 311 720 379 270 7,515
Total operating expenses 1,078 407 315 395 115 612 - 97 3,017
Ordinary operating profit 1,726 1,363 512 40 196 108 379 173 4,498
 Loss on loans, guarantees etc.  1 45 -118 - 86 - - -0 14
Result before tax 1,725 1,318 629 40 111 108 379 173 4,484
Return on equity *) 18.2 % 24.3 % 19.6 %           14.4 %
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Group 31 December 2022                
Profit and loss account (NOKm) RM CM EM 1 SB 1 Finans MN SB 1 Regnskaps-huset SMN Other Uncollated Total
Net interest 1,328 1,380 3 459 2 - 167 3,339
Interest from allocated capital 163 125 - - - - -288 -
Total interest income 1,491 1,505 3 459 2 - -121 3,339
Comission income and other income 796 290 418 -106 605 - 39 2,042
Net return on financial investments **) -4 9 8 -23 - 466 -76 380
Total income 2,283 1,804 429 329 607 466 -158 5,760
Total operating expenses 958 467 371 108 511 - 28 2,443
Ordinary operating profit 1,325 1,337 58 221 96 466 -186 3,317
 Loss on loans, guarantees etc.  29 -66 - 30 - - -0 -7
Result before tax 1,296 1,403 58 191 96 466 -186 3,324
Return on equity *) 13.6% 20.8%           12.3%
 
*) Regulatory capital in line with the bank's capital target have been used as basis for calculating capital used in the Retail and Corporate market.  
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**) Specification of other (NOKm) 31 Dec 23 31 Dec 22
SpareBank 1 Gruppen -34 175
SpareBank 1 Boligkreditt  98 1
SpareBank 1 Næringskreditt 10 3
BN Bank 257 203
SpareBank 1 Markets 19 -
SpareBank 1 Kreditt -13 9
SpareBank 1 Betaling -37 13
SpareBank 1 Forvaltning 35 33
Other companies 46 29
Income from investment in associates and joint ventures 379 466
SpareBank 1 Mobilitet Holding -82 -23
Net income from investment in associates and joint ventures 297 442
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Annual report and notes

© SpareBank 1 SMN