---
title: Quarterly development
---

## Income Statement

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

| NOK 1 000 | 2th Quarter 2017 | 1th Quarter 2017 | 4th Quarter 2016 | 3th Quarter 2016 | 2th Quarter 2016 |
| --- | --- | --- | --- | --- | --- |
|   |  |  |  |  |  |
| Total interest income | 900,887 | 937,419 | 972,314 | 942,275 | 924,572 |
| Total interest expenses | -777,648 | -847,140 | -883,715 | -839,655 | -817,253 |
| Net interest income | 123,239 | 90,278 | 88,599 | 102,620 | 107,319 |
| Net gains/losses from financial instruments | -205,252 | -250,917 | -262,950 | -181,345 | -112,625 |
| Net other operating income | -205,252 | -250,917 | -262,950 | -181,345 | -112,625 |
| Total operating income | -82,013 | -160,639 | -174,351 | -78,725 | -5,306 |
| Salaries and other ordinary personnel expenses | -2,429 | -3,389 | -3,106 | -3,160 | -2,043 |
| Administration expenses | -2,849 | -2,555 | -2,649 | -2,577 | -2,299 |
| Other operating expenses | -3,201 | -2,335 | -4,047 | -3,557 | -3,076 |
| Depreciation on fixed assets and other intangible assets | -267 | -246 | -354 | -293 | -320 |
| Total operating expenses | -8,746 | -8,525 | -10,156 | -9,587 | -7,738 |
| Operating result before losses | -90,759 | -169,164 | -184,507 | -88,312 | -13,044 |
| Write-downs on loans and guarantees | - | - | - | - | - |
| Pre-tax operating result | -90,759 | -169,164 | -184,507 | -88,312 | -13,044 |
| Taxes | 22,690 | 42,291 | 46,126 | 22,078 | 3,261 |
| Profit/loss for the year | -68,069 | -126,873 | -138,381 | -66,234 | -9,783 |
| Other income and expense | - | - | -791 | - | - |
| Total Profit/Loss | -68,069 | -126,873 | -139,172 | -66,234 | -9,783 |

---

## Balance Sheet

| NOK 1 000 | 30.06.2017 | 31.03.2017 | 31.12.2016 | 30.09.2016 | 30.06.2016 |
| --- | --- | --- | --- | --- | --- |
|   |  |  |  |  |  |
| Assets |   |   |   |   |   |
| Lending to and deposits with credit institutions | 10,490,289 | 8,251,587 | 8,129,096 | 10,261,328 | 11,257,916 |
| Norwegian Government Treasury Bills | 2,667,460 | 395,059 | 1,948,409 | 2,596,035 | 1,656,360 |
| Bonds | 42,106,577 | 39,834,119 | 40,558,209 | 46,446,864 | 44,733,335 |
| Lending to customers | 173,571,981 | 175,654,209 | 174,463,203 | 173,328,663 | 172,616,073 |
| Financial derivatives | 24,684,813 | 25,160,358 | 27,150,388 | 27,278,826 | 32,728,300 |
| Defered tax asset | 6,174 | 3,005 | - | - | - |
| Other assets | 1,109 | 1,703 | 1,543 | 2,262 | 1,833 |
| Total assets | 253,528,402 | 249,300,040 | 252,250,848 | 259,913,978 | 262,993,816 |
|   |  |  |  |  |  |
| Liabilities and equity |   |   |   |   |   |
| Liabilities |   |   |   |   |   |
| Debt incurred by issuing securities | 216,466,932 | 212,822,181 | 213,056,583 | 220,083,440 | 217,597,621 |
| Collateral received under derivatives contracts | 23,245,875 | 22,005,476 | 24,304,397 | 25,331,451 | 31,632,419 |
| Financial derivatives | 1,074,719 | 1,514,308 | 1,781,221 | 1,415,786 | 575,679 |
| Deferred tax | 208,816 | 208,816 | 208,816 | 380,104 | 370,561 |
| Tax payable | - | 124,898 | 124,898 | - | 31,621 |
| Subordinated debt | 1,603,328 | 1,603,633 | 1,603,778 | 2,684,461 | 2,684,337 |
| Other Liabilities | 89,939 | 104,359 | 117,865 | 117,308 | 133,917 |
| Total Liabilities | 242,689,610 | 238,383,671 | 241,197,558 | 250,012,550 | 253,026,155 |
|   |  |  |  |  |  |
| Equity |   |   |   |   |   |
| Contributed equity | 9,708,470 | 9,708,470 | 9,498,470 | 9,498,470 | 9,258,470 |
| Other paid in equity (not yet registered) | - | - | 210,000 | - | 240,000 |
| Hybrid capital | 1,080,000 | 1,070,986 | 1,081,034 | - | - |
| Accrued equity | 131,314 | 149,836 | 149,836 | 374,328 | 374,328 |
| Net profit | -194,942 | -126,873 | - | 28,630 | 94,864 |
| Declared dividends | 113,950 | 113,950 | 113,950 |   | - |
| Total equity | 10,838,792 | 10,916,369 | 11,053,290 | 9,901,428 | 9,967,662 |
| Total liabilities and equity | 253,528,402 | 249,300,040 | 252,250,848 | 259,913,978 | 262,993,816 |

---