Quarterly development

Income Statement

These quarterly statements are not individually audited and are included as additional information to these accounts.

NOK 1 000     1st Quarter 2021 4th Quarter 2020 3rd Quarter 2020 2nd Quarter 2020 1st Quarter 2020
Total interest income     1,078,111 1,125,288 1,112,955 1,249,912 1,631,398
Total interest expenses     -505,139 -482,915 -466,886 -878,527 -1,151,751
Net interest income     572,972 642,373 646,069 371,385 479,646
Commissions to SpareBank 1 banks     -500,416 -600,887 -566,950 -244,043 -358,017
Net commission income     -500,416 -600,887 -566,950 -244,043 -358,017
Net gains/losses from financial instruments     -43,583 -36,041 5,734 171,895 -283,788
Net other operating income     -43,583 -36,041 5,734 171,895 -283,788
Total operating income     28,972 5,445 84,853 299,237 -162,159
Salaries and other ordinary personnel expenses     -3,105 -3,532 -3,844 -1,935 -3,154
Other operating expenses     -6,896 -7,985 -5,340 -7,945 -6,794
Total operating expenses     -10,001 -11,517 -9,185 -9,880 -9,949
Operating result before losses     18,971 -6,072 75,668 289,358 -172,107
Expected cumulative loss mortgages (IFRS 9)     12,382 -7,614 9,327 -10,905 -9,236
Pre-tax operating result     31,354 -13,687 84,995 278,452 -181,343
Taxes     -5,584 5,197 -18,169 -65,753 49,486
Profit/loss for the year     25,770 -8,490 66,826 212,699 -131,857
Other income and expense     -144,760 33,160 -53,827 34,353 77,825
Total Profit/Loss     -118,990 24,670 12,999 247,052 -54,031

Balance Sheet

NOK 1 000     31.03.2020 31.12.2020 30.09.2020 30.06.2020 31.03.2020
Assets              
Lending to and deposits with credit institutions     1,977,185 6,473,876 17,695,451 8,926,842 4,471,962
Certificates and bonds     25,297,614 34,515,412 33,852,412 28,950,758 38,793,444
Residential mortage loans     210,994,595 208,613,697 205,998,995 202,356,280 199,687,454
Financial derivatives     11,937,811 21,396,448 30,074,324 28,051,937 38,900,544
Defered tax asset     300,014 281,880 142,782 164,031 233,644
Other assets     4,009,951 5,018 798 4,479,081 1,831
Total assets     254,517,170 271,286,332 287,764,762 272,928,929 282,088,878
               
Liabilities and equity              
Liabilities              
Debt incurred by issuing securities     225,652,744 239,372,170 245,303,651 233,899,764 239,812,029
Collateral received under derivatives contracts     7,190,519 16,838,423 23,499,230 20,469,422 27,484,900
Repurchase agreement     2,610,725 - 250,003 2,507,625 -
Financial derivatives     2,389,366 915,540 726,670 734,333 723,758
Deferred tax     0 30,120 19,450 37,393 -
Tax payable     3,685 123,196 223,594 226,673 230,533
Subordinated debt     1,430,181 1,429,990 1,429,936 1,430,788 1,433,354
Other Liabilities     3,085,914 209,078 3,960,268 1,271,651 284,635
Total Liabilities     242,363,133 258,918,517 275,412,801 260,577,649 269,969,209
               
Equity              
Contributed equity     11,698,470 11,698,470 11,698,470 11,418,470 11,418,470
Other paid in equity (not yet registered)     - - - - -
Hybrid capital     900,000 900,000 900,000 1,180,000 1,180,000
Accrued equity     -470,203 -316,424 -394,177 -328,033 -346,945
Net profit     25,770 - 147,668 80,843 -131,857
Declared dividends     - 85,769 - - -
Total equity     12,154,037 12,367,815 12,351,961 12,351,280 12,119,669
Total liabilities and equity     254,517,170 271,286,332 287,764,762 272,928,929 282,088,878