Quarterly development

Income Statement

NOK 1 000 2. quarter 2014 1. quarter 2014 4. quarter 2013 3. quarter 2013 2. quarter 2013
 
Total interest income 1,136,519 1,123,453 1,158,905 1,175,674 1,184,976
Total interest expenses -1,064,944 -1,032,754 -1,055,943 -1,103,951 -1,138,467
Net interest income 71,575 90,699 102,963 71,723 46,509
Net gains/losses from financial instruments -30,043 -28,287 18,378 28,284 -35,524
Net other operating income -30,043 -28,287 18,378 28,284 -35,524
Total operating income 41,532 62,412 121,341 100,007 10,985
Salaries and other ordinary personnel expenses -2,416 -2,463 -2,437 -2,230 -2,753
Administration expenses -2,038 -2,359 -4,047 -2,701 -2,195
Other operating expenses -1,741 -3,450 -2,249 -2,087 -1,622
Depreciation/Amortization -399 -390 -391 -390 -487
Total operating expenses -6,593 -8,663 -9,123 -7,408 -7,057
Net profit before impairment losses 34,939 53,750 112,218 92,599 3,928
Write-downs on loans and guarantees 0 0 0 0 0
Pre-tax operating result 34,939 53,750 112,218 92,599 3,928
Tax expense -9,434 -14,512 -24,988 -25,927 -1,100
Net profit for the period 25,505 39,238 87,230 66,672 2,828
Other income and expense in comprehensive income 0 4,700 -405 0 0
Total net profit for the period 25,506 43,937 86,825 66,672 2,828
 

Balance Sheet

NOK 1 000 2. quarter 2014 1. quarter 2014 4. quarter 2013 3. quarter 2013 2. quarter 2013
 
Assets
Lending to and deposits with credit institutions 12,569,541 10,545,177 11,882,469 8,141,726 7,125,187
Norwegian Government Treasury Bills 1,189,286 967,828 1,261,795 5,289,918 5,071,915
Bonds 10,895,277 4,891,483 5,476,099 6,768,991 13,656,316
Lending to customers 159,444,399 175,315,196 174,781,222 169,577,344 166,914,671
Financial derivatives 15,736,719 11,986,042 12,760,351 10,181,153 8,778,292
Other assets 2,536 8,845 4,164 4,839 5,100
Total assets 199,837,758 203,714,573 206,166,101 199,963,972 201,551,481
 
Liabilities and equity
Liabilities
Debt incurred by issuing securities 174,164,672 181,362,838 183,146,411 182,065,316 185,028,695
Collateral received under derivatives contracts 12,337,063 8,977,523 10,611,584 5,970,786 4,706,383
Financial derivatives 718,770 761,473 797,417 826,967 1,312,415
Deferred tax 157,770 157,770 178,307 100,712 100,712
Tax payable 0 20,537 0 0 0
Subordinated debt 1,954,120 1,604,400 0 0 0
Other Liabilities 2,166,524 2,197,068 3,143,356 2,797,990 2,240,909
Total liabilities 191,498,919 195,081,609 197,877,075 191,761,771 193,389,114
 
Equity
Paid in equity capital 8,268,470 7,968,470 7,968,470 7,968,470 7,968,470
Other paid in equity (not yet registered) 0 300,000 0 98,050
Accrued equity 5,626 5,626 925 98,050 69,010
Net profit 64,743 39,237 135,681 0
Declared dividend 0 319,630 319,630 0 0
Total equity 8,338,839 8,632,964 8,289,025 8,202,201 8,135,530
Total liabilites and equity 199,837,758 203,714,573 206,166,101 199,963,972 201,551,481
 
Key figures
Number of shares 55,105,482 53,105,480 53,105,480 53,105,480 53,105,480
Net profit per share 0.46 0.82 1.64 1.26 0.05