Quarterly development

Income Statement

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

NOK 1 000     2nd Quarter 2021 1st Quarter 2021 4th Quarter 2020 3rd Quarter 2020 2nd Quarter 2020
Total interest income     1,065,641 1,078,111 1,125,288 1,112,955 1,249,912
Total interest expenses     -480,759 -505,139 -482,915 -466,886 -878,527
Net interest income     584,882 572,972 642,373 646,069 371,385
Commissions to SpareBank 1 banks     -521,979 -500,416 -600,887 -566,950 -244,043
Net commission income     -521,979 -500,416 -600,887 -566,950 -244,043
Net gains/losses from financial instruments     -24,038 -43,583 -36,041 5,734 171,895
Net other operating income     -24,038 -43,583 -36,041 5,734 171,895
Total operating income     38,864 28,972 5,445 84,853 299,237
Salaries and other ordinary personnel expenses     -2,709 -3,105 -3,532 -3,844 -1,935
Other operating expenses     -8,782 -6,896 -7,985 -5,340 -7,945
Total operating expenses     -11,492 -10,001 -11,517 -9,185 -9,880
Operating result before losses     27,373 18,971 -6,072 75,668 289,358
Mortgages IFRS 9 ECL     826 12,382 -7,614 9,327 -10,905
Pre-tax operating result     28,199 31,354 -13,687 84,995 278,452
Taxes     -4,769 -5,584 5,197 -18,169 -65,753
Profit/loss for the year     23,430 25,770 -8,490 66,826 212,699
Other income and expense     -59,171 -144,760 33,160 -53,827 34,353
Total Profit/Loss     -35,741 -118,990 24,670 12,999 247,052

Balance Sheet

NOK 1 000     30.06.2021 31.03.2021 31.12.2020 30.09.2020 30.06.2020
Assets              
Lending to and deposits with credit institutions     3,184,594 1,977,185 6,473,876 17,695,451 8,926,842
Certificates and bonds     28,690,918 25,297,614 34,515,412 33,852,412 28,950,758
Residential mortage loans     211,797,941 210,994,595 208,613,697 205,998,995 202,356,280
Financial derivatives     13,893,022 11,937,811 21,396,448 30,074,324 28,051,937
Defered tax asset     319,738 300,014 281,880 142,782 164,031
Other assets     412,906 4,009,951 5,018 798 4,479,018
Total assets     258,299,120 254,517,170 271,286,332 287,764,762 272,928,929
               
Liabilities and equity              
Liabilities              
Debt incurred by issuing securities     234,550,251 225,652,744 239,372,170 245,303,651 233,899,764
Collateral received under derivatives contracts     7,570,606 7,190,519 16,838,423 23,499,230 20,469,422
Repurchase agreement     0 2,610,725 - 250,003 2,507,625
Financial derivatives     1,919,437 2,389,366 915,540 726,670 734,333
Deferred tax     0 0 30,120 19,450 37,393
Tax payable     83,549 3,685 123,196 223,594 226,673
Subordinated debt     1,429,879 1,430,181 1,429,990 1,429,936 1,430,788
Other Liabilities     636,226 3,085,914 209,078 3,960,268 1,271,651
Total Liabilities     246,189,947 242,363,133 258,918,517 275,412,801 260,577,649
               
Equity              
Contributed equity     11,698,470 11,698,470 11,698,470 11,698,470 11,418,470
Other paid in equity (not yet registered)     - - - - -
Hybrid capital     900,000 900,000 900,000 900,000 1,180,000
Accrued equity     -538,497 -470,203 -316,424 -394,177 -328,033
Net profit     49,200 25,770 - 147,668 80,843
Declared dividends     0 - 85,769 - -
Total equity     12,109,173 12,154,037 12,367,815 12,351,961 12,351,280
Total liabilities and equity     258,299,120 254,517,170 271,286,332 287,764,762 272,928,929