Quarterly Report 4Q23

Group financial highlights and key figures

_{(Amounts in NOK million and in % of average assets)}		31.12.23	%	31.12.22	%	31.12.21	%
Net interest income	7	3 627	2,85 %	2 556	2,09 %	2 014	1,67 %
Net fee- and other operating income		1 487	1,17 %	1 234	1,01 %	1 499	1,25 %
Net income from financial investments		183	0,14 %	274	0,22 %	794	0,66 %
Total income	7	5 297	4,17 %	4 064	3,32 %	4 307	3,58 %
Total costs	7	1 908	1,50 %	1 637	1,34 %	1 748	1,45 %
Result before losses		3 389	2,67 %	2 427	1,98 %	2 559	2,13 %
Losses	7	116	0,09 %	63	0,05 %	- 235	-0,20 %
Result before tax		3 273	2,57 %	2 364	1,93 %	2 794	2,32 %
Tax		725	0,57 %	513	0,42 %	499	0,41 %
Result after tax	7	2 548	1,98 %	1 851	1,49 %	2 295	1,90 %
Interest hybrid capital	7	60		37		29
Result after tax ex. interest hybrid capital	7	2 488		1 814		2 266
Profitability
Return on equity capital	1, 7	16,4 %		11,9 %		15,1 %
Interest margin	2, 7	2,85 %		2,09 %		1,67 %
Cost/income	3, 7	36,0 %		40,3 %		40,6 %
Balance sheet figures and liquidity		31.12.23		31.12.22		31.12.21
Total assets		128 138		122 521		119 180
Average assets	4, 7	127 155		122 377		120 264
Gross loans	5, 7	101 093		95 301		91 352
Gross loans incl. commition loans	5, 7	145 742		135 031		127 105
Deposits	6, 7	83 659		80 669		77 241
Liquidity Coverage Ratio (LCR)		150		146		142
Solidity
Common Equity Tier 1 Capital Ratio		17,1 %		17,3 %		18,7 %
Tier 1 Capital Ratio		18,9 %		18,3 %		20,0 %
Total Capital Ratio		21,4 %		19,9 %		21,6 %
Common Equity Tier 1 Capital		13 466		12 351		13 097
Tier 1 Capital		14 848		13 082		14 001
Own Funds		16 824		14 230		15 109
Total risk exposure amount		78 527		71 399		70 059
Leverage Ratio incl. result		7,9 %		7,4 %		8,3 %
NONG Key figures
NONG Quoted/market price (NOK)		103,20		96,00		112,60
Number of EC issued (mill)		100,40		100,40		100,40
Equity capital per EC (NOK)		72,47		70,62		72,39
Result per EC (NOK)		11,36		8,25		10,41
P/E (Price/Earnings per EC) NOK		9,08		11,63		10,82
P/B (Price/Book Value per EC) NOK		1,42		1,36		1,56
Branches and full-time employees
Branches		15		15		15
Manyears		956		852		853

^{1 The profit after tax in relation to average equity, calculated as a quarterly average of equity and at 01.01.
" The Bank's hybrid 1 capital issued are classified as equity in the financial statements. However, when calculating the return on equity, hybrid tier 1 capital are decucted from equity, and result after tax are adjusted for interests on hybrid tier 1 capital."
2 Net total interests as a percentage of average total assets.
3 Total costs as a percentage of total net income.
4 Average assets are calculated as average assets each quarter and at 01.01.
5 Gross loans customers and gross loans financial institutions.
6 Deposits customers and deposits financial institutions.
7 Defined as alternative performance measures, see attachment to the Quarterly report}