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title: Spabol - 2020 Q2 -Quarterly development
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## Income Statement

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

| NOK 1 000 |   |   | 2th Quarter 2020 | 1th Quarter 2020 | 4th Quarter 2019 | 3th Quarter 2019 | 2th Quarter 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Total interest income |   |   | 1,249,912 | 1,631,398 | 1,628,769 | 1,521,528 | 1,396,122 |
| Total interest expenses |   |   | -878,527 | -1,151,751 | -1,146,064 | -1,054,143 | -917,711 |
| Net interest income |   |   | 371,385 | 479,646 | 482,705 | 467,385 | 478,411 |
| Commission and fee expensenes |   |   | -244,043 | -358,017 | -374,357 | -370,367 | -354,035 |
| Net commission income |   |   | -244,043 | -358,017 | -374,357 | -370,367 | -354,035 |
| Net gains/losses from financial instruments |   |   | 171,895 | -283,788 | -81,025 | -55,735 | -49,926 |
| Net other operating income |   |   | 171,895 | -283,788 | -81,025 | -55,735 | -49,926 |
| Total operating income |   |   | 299,237 | -162,159 | 27,324 | 41,283 | 74,450 |
| Salaries and other ordinary personnel expenses |   |   | -1,935 | -3,154 | -2,744 | -3,695 | -2,506 |
| Other operating expenses |   |   | -7,945 | -6,794 | -7,015 | -6,181 | -5,820 |
| Total operating expenses |   |   | -9,880 | -9,949 | -9,759 | -9,876 | -8,325 |
| Operating result before losses |   |   | 289,358 | -172,107 | 17,564 | 31,407 | 66,125 |
| Write-downs on loans and guarantees |   |   | -10,905 | -9,236 | -1,148 | 4,102 | 136 |
| Pre-tax operating result |   |   | 278,452 | -181,343 | 16,416 | 35,510 | 66,261 |
| Taxes |   |   | -65,753 | 49,486 | 108,489 | -8,877 | -16,565 |
| Profit/loss for the year |   |   | 212,699 | -131,857 | 12,308 | 26,632 | 49,695 |
| Other income and expense |   |   | 197,259 | 77,825 | -2,502 | -25,750 | 87,888 |
| Total Profit/Loss |   |   | 15,441 | -54,031 | 9,806 | 882 | 137,583 |

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## Balance Sheet

| NOK 1 000 |   |   | 30.06.2020 | 31.03.2020 | 31.12.2019 | 30.09.2019 | 30.06.2019 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Assets |   |   |   |   |   |   |   |
| Lending to and deposits with credit institutions |   |   | 8,926,842 | 4,471,962 | 9,801,250 | 4,564,258 | 4,519,102 |
| Certificates and bonds |   |   | 28,950,758 | 38,793,444 | 28,067,101 | 35,143,942 | 29,554,116 |
| Residential mortage loans |   |   | 202,356,280 | 199,687,454 | 191,309,342 | 189,763,221 | 190,606,858 |
| Financial derivatives |   |   | 28,051,937 | 38,900,544 | 16,254,454 | 22,386,673 | 17,829,896 |
| Defered tax asset |   |   | 164,031 | 233,644 | 188,308 | 10,994 | 7,110 |
| Other assets |   |   | 4,479,081 | 1,831 | 890 | 991 | 1,040 |
| Total assets |   |   | 272,928,929 | 282,088,878 | 245,621,345 | 251,870,081 | 242,518,121 |
|   |   |   |   |   |   |   |   |
| Liabilities and equity |   |   |   |   |   |   |   |
| Liabilities |   |   |   |   |   |   |   |
| Debt incurred by issuing securities |   |   | 233,899,764 | 239,812,029 | 217,670,078 | 220,220,804 | 214,370,809 |
| Collateral received under derivatives contracts |   |   | 20,469,422 | 27,484,900 | 12,418,140 | 16,783,630 | 12,625,416 |
| Repurchase agreement |   |   | 2,507,625 | 0 | - | - | 553,863 |
| Financial derivatives |   |   | 734,333 | 723,758 | 1,420,374 | 900,005 | 1,030,359 |
| Deferred tax |   |   | 37,393 | 0 | - | 21,446 | 30,029 |
| Tax payable |   |   | 226,673 | 230,533 | 250,190 | 52,191 | - |
| Subordinated debt |   |   | 1,430,788 | 1,433,354 | 1,433,439 | 1,432,972 | 1,432,458 |
| Other Liabilities |   |   | 1,271,651 | 284,635 | 148,256 | 175,870 | 181,253 |
| Total Liabilities |   |   | 260,577,649 | 269,969,209 | 233,340,477 | 239,586,917 | 230,224,187 |
|   |   |   |   |   |   |   |   |
| Equity |   |   |   |   |   |   |   |
| Contributed equity |   |   | 11,418,470 | 11,418,470 | 11,418,470 | 11,418,470 | 11,418,470 |
| Other paid in equity (not yet registered) |   |   | 0 | 0 | - | - | - |
| Hybrid capital |   |   | 1,180,000 | 1,180,000 | 1,180,000 | 1,180,000 | 1,180,000 |
| Accrued equity |   |   | -328,033 | -346,945 | -577,048 | -471,879 | -434,476 |
| Net profit |   |   | 80,843 | -131,857 | 168,880 | 156,572 | 129,940 |
| Declared dividends |   |   | 0 | 0 | 90,566 | - | - |
| Total equity |   |   | 12,351,280 | 12,119,669 | 12,280,868 | 12,283,163 | 12,293,934 |
| Total liabilities and equity |   |   | 272,928,929 | 282,088,878 | 245,621,345 | 251,870,081 | 242,518,121 |

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