Financial Statements

Income statement first nine months 2013

NOK 1.000 Note 30.09.13 30.09.12 2012
 
Total interest income 2 3,523,917 3,826,592 5,031,867
Total interest expenses 2 -3,331,691 -3,679,550 -4,846,847
Net interest income 192,225 147,042 185,020
 
Net gains/losses from financial instruments 3 18,528 157,539 193,931
Net other operating income 18,528 157,539 193,931
Total operating income 210,753 304,581 378,951
 
Salaries and other ordinary personnel expenses 4 -6,714 -6,919 -9,458
Administration expenses 5 -7,153 -4,603 -7,009
Other operating expenses 6 -7,125 -8,106 -11,216
Depreciation/Amortisation -1,315 -1,139 -1,713
Total operating expenses -22,307 -20,767 -29,396
 
Operating result before losses 188,446 283,814 349,555
Write-downs on loans and guarantees 8 0 0 -2,023
Pre-tax operating result 188,446 283,814 347,532
Taxes 52,765 79,468 97,305
Profit/loss for the period 135,681 204,346 250,227

Statement of total profit/loss for the first nine months 2013

NOK 1.000 30.09.13 30.09.12 2012
 
Profit/loss for the period 135,681 204,346 250,227
Pension estimates deviation 7,096
Tax effect pension estimates deviation -1,987
Total profit/loss accounted for in equity 0 0 5,109
Total profit/loss 135,681 204,346 255,336
Allocations
Declared dividends 145,886
Other equity 135,681 204,346 109,450
Total allocations 135,681 204,346 255,336

Balance sheet as of 30 September 2013

NOK 1.000 Note 30.09.13 30.09.12 2012
 
Assets
Lending to and deposits with credit institutions 8,141,726 5,030,819 6,036,499
Norwegian treasury bills 5,289,918 5,266,663 1,801,802
Bonds 11 6,768,991 11,740,867 12,472,275
Lending to customers 8 169,577,344 157,261,220 160,233,984
Financial derivatives 10 10,181,153 6,107,841 6,104,499
Other assets 7 4,839 3,455 3,587
Total assets 199,963,972 185,410,866 186,652,647
Liabilities and equity
Liabilities
Debt incurred by issuing securities 9 182,065,316 169,296,209 170,644,817
Collateral received in derivates transactions 5,970,786 3,495,568 3,213,665
Financial derivatives 10 826,967 3,983,467 3,531,313
Deferred tax 100,712 0 100,712
Tax payable 0 0 0
Other liabilities 14 2,797,990 1,092,111 1,369,734
Total liabilities 191,761,771 177,867,355 178,860,241
Equity
Common equity 7,968,470 6,918,470 7,548,470
New common equity not yet registered 0 420,000
Retained earnings 98,050 695 98,050
Result 135,681 204,346 0
Declared dividends 0 0 145,886
Total equity 8,202,201 7,543,511 7,792,406
Total liabilities and equity 199,963,972 185,410,866 186,652,647

Statement of changes in equity

NOK 1.000 Share capital Premium reserve Declared dividend Fund for unrealised profits Other equity Total equity
 
Balance as of 31 December 2011 3,770,548 1,887,922 82,952 695 5,742,118
 
Share increase 5 January 2012 280,000 140,000 420,000
Share increase 27 January 2012 280,000 140,000 420,000
Share increase 16 March 2012 280,000 140,000 420,000
Share increase 20 August 2012 280,000 140,000 420,000
Share increase 24 October 2012 140,000 70,000 210,000
Dividend 2011 -82,952 -82,952
Result for the period 145,886 97,072 7,269 250,227
Pension estimates deviation net of tax effect 5,109 5,109
Pension obligation accounted for in equity -12,095 -12,095
Balance as of 31 December 2012 5,030,548 2,517,922 145,886 97,072 978 7,792,406
 
Share increase 8 April 2013 280,000 140,000 420,000
Dividend 2012 -145,886 -145,886
Result for the period 135,681 135,681
Balance as of 30 September 2013 5,310,548 2,657,922 0 97,072 136,659 8,202,201

Cash flow statement

SpareBank 1 Boligkreditt AS
 
Cash flow statement
NOK 1.000 41,547 41,182 2,012
Cash flows from operations
Interest received 3,500,616 3,323,879 4,691,621
Payments to operations -29,128 -20,286 -22,007
Paid tax 0 -38,644 -32,259
Net cash flow relating to operations 3,471,488 3,264,949 4,637,355
 
Cash flows from investments
Net purchase of loan portfolio -9,329,153 -30,226,498 -33,205,024
Net payments on the acquisition of government bills -3,466,174 -1,121,401 2,332,616
Net payments on the acquisition of bonds 6,130,923 -2,996,810 -3,720,224
Net investments in intangible assets -2,672 -1,286 -1,616
Net cash flows relating to investments -6,667,076 -34,345,995 -34,594,249
 
Cash flows from funding activities
Net receipt/payment from the issuance of certificates -60,269 -519,220 -480,627
Net receipt/payment from the issuance of bonds 4,204,117 32,570,291 33,482,836
Net receipt/payment from the issuance of loans to credit institutions 4,140,823 2,557,963 2,615,429
Equity capital subscription 420,000 1,680,000 1,890,000
Paid dividend -145,886 -82,952 -82,952
Net interest payments on funding activity -3,259,329 -3,142,319 -4,485,657
 
Net cash flow relating to funding activities 5,299,457 33,063,763 32,939,030
Net cash flow in the period 2,103,869 1,982,717 2,982,136
Balance of cash and cash equivalents. starting balance 6,036,499 3,046,116 3,046,116
Net receipt/payments on cash 2,103,869 1,982,717 2,982,136
Exchange rate difference 1,358 1,986 8,248
Balance of cash and cash equivalents, ending balance 8,141,726 5,030,819 6,036,499