Quarterly development

Income statement

Quarterly

NOK 1 000 1. quarter 2015 4. quarter 2014 3. quarter 2014 2. quarter 2014 1. quarter 2014
 
Total interest income 1,006,916 1,089,772 1,126,351 1,136,519 1,123,453
Total interest expenses -904,375 -990,434 -1,032,591 -1,064,944 -1,032,754
Net interest income 102,541 99,337 93,761 71,575 90,699
Net gains/losses from financial instruments 225,925 24,242 -4,369 -30,043 -28,287
Net other operating income 225,925 24,242 -4,369 -30,043 -28,287
Total operating income 328,467 123,579 89,392 41,532 62,412
Salaries and other ordinary personnel expenses -2,594 -2,200 -3,145 -2,416 -2,463
Administration expenses -2,667 -2,632 -2,270 -2,038 -2,359
Other operating expenses -2,423 -3,308 -3,565 -1,741 -3,450
Depreciation/Amortization -512 -476 -437 -399 -390
Total operating expenses -8,196 -8,617 -9,417 -6,593 -8,663
Net profit before impairment losses 320,271 114,962 79,975 34,939 53,750
Write-downs on loans and guarantees - - - - -
Pre-tax operating result 320,271 114,962 79,975 34,939 53,750
Tax expense -86,473 -33,047 -21,593 -9,434 -14,512
Net profit for the period 233,798 81,915 58,381 25,505 39,238
Other income and expense in comprehensive income - -36 -4,700 - 4,700
Total net profit for the period 233,798 81,879 53,681 25,506 43,937

Balance sheet

NOK 1 000 1. quarter 2015 4. quarter 2014 3. quarter 2014 2. quarter 2014 1. quarter 2014
 
Assets
Lending to and deposits with credit institutions 14,824,479 16,268,940 9,637,332 12,569,541 10,545,177
Norwegian Government Treasury Bills 248,200 487,553 297,525 1,189,286 967,828
Bonds 19,680,901 19,880,949 13,734,034 10,895,277 4,891,483
Lending to customers 163,915,020 161,205,282 159,820,373 159,444,399 175,315,196
Financial derivatives 29,953,871 29,746,665 14,803,363 15,736,719 11,986,042
Other assets 2,631 4,468 4,424 2,536 8,845
Total assets 228,625,101 227,593,858 198,297,051 199,837,758 203,714,573
 
Liabilities and equity
Liabilities
Debt incurred by issuing securities 191,054,848 188,719,491 173,041,757 174,164,672 181,362,838
Collateral received under derivatives contracts 25,767,483 27,181,223 11,921,491 12,337,063 8,977,523
Financial derivatives 622,647 825,043 769,378 718,770 761,473
Deferred tax 234,604 234,604 157,770 157,770 157,770
Tax payable - - - - 20,537
Subordinated debt 1,954,021 1,954,262 1,954,337 1,954,120 1,604,400
Other Liabilities 283,302 204,836 2,055,098 2,166,524 2,197,068
Total liabilities 219,916,905 219,119,459 189,899,831 191,498,919 195,081,609
 
Equity
Paid in equity capital 8,268,470 8,268,470 8,268,470 8,268,470 7,968,470
Other paid in equity (not yet registered) - - - - 300,000
Accrued equity 2,039 2,039 5,626 5,626 5,626
Net profit 233,798 0 123,124 64,743 39,237
Declared dividend 203,890 203,890 0 0 319,630
Total equity 8,708,196 8,474,399 8,397,220 8,338,839 8,632,964
Total liabilites and equity 228,625,101 227,593,858 198,297,051 199,837,758 203,714,573
 
Key figures
Number of shares 55,105,482 55,105,482 55,105,482 55,105,482 53,105,480
Net profit per share 4.24 1.49 0.97 0.46 0.82