Interim Report 3 rd quarter 2015 Nordea Bank Norge Group

Size: px
Start display at page:

Download "Interim Report 3 rd quarter 2015 Nordea Bank Norge Group"

Transcription

1 Interim Report 3 rd quarter 205 Nordea Bank Norge Group Nordea s vision is to be a Great European bank, acknowledged for its people, creating superior value for customers and shareholders. We are making it possible for our customers to reach their goals by providing a wide range of products, services and solutions within banking, asset management and insurance. Nordea has around million customers, approximately 650 branch office locations and is among the ten largest universal banks in Europe in terms of total market capitalisation. The Nordea share is listed on the NASDAQ OMX Nordic Exchange in Stockholm, Helsinki and Copenhagen.

2 Key financial figures Income statements Q3 Q2 Change Q3 Change Change NOKm % 204 % % Net interest income 2,350 2, , ,027 7,337-4 Net fee and commission income ,995,898 5 Net result from items at fair value Equity method Other operating income Total operating income 3,66 3,27 3, ,748 9,722 0 Staff costs ,277-2,453-7 Other expenses ,338 -,382-3 Depreciation of tangible and intangible assets Total operating expenses -,236 -,28 -, ,73-4,67 - Profit before loan losses,930,909,947-6,035 5,555 9 Net loan losses Operating profit,808,79 5,823-5,46 4,788 4 Income tax expense , Net profit for the period,347,250 8, ,074 3,50 6 Business volumes, key items Jun Change 30 Change NOKbn % 204 % Loans to the public Deposits and borrowings from the public Equity Total assets Ratios and key figures Q3 3 Q2 4 Q Basic/diluted Earnings per share (EPS), NOK EPS, rolling 2 months up to period end, NOK Equity per share 2, NOK Shares outstanding 2, million Return on equity, % Return on assets 2, % Cost/income ratio, % Loan loss ratio, basis points Common Equity Tier capital ratio, excl. Basel I floor 2,5 % Tier capital ratio, excl. Basel I floor 2,5 % Total capital ratio, excl. Basel I floor 2,5 % Common Equity Tier capital ratio, incl. Basel I floor 2,6 % Tier capital ratio, incl. Basel I floor 2,6 % Total capital ratio, incl. Basel I floor 2,6 % Tier capital, NOKm 59,063 55,758 48,74 59,063 48,74 Risk exposure amount incl. Basel I floor 2, NOKbn Number of employees (full-time equivalents) 2 2,723 2,689 2,750 2,723 2,750 For exchange rates used in the consolidation of NBN see Note, Accounting policies. 2 End of period. 3 Including profit for the period. 4 Excluding profit for the period. 5 Capital ratios as reported using the Basel III framework. 6 Capital ratios as reported using the Basel II framework. Throughout this report, Nordea Bank Norge and NBN refer to the parent company Nordea Bank Norge ASA, business identity code , with its subsidiaries. The registered office of the company is in Oslo. Nordea Bank Norge ASA is a wholly owned subsidiary of Nordea Bank AB (publ), the listed parent company of the whole Nordea Group. The business operations of the Nordea Group have been organised in the following business areas, all of which operate across national boundaries: Retail Banking, Wholesale Banking and Wealth Management. In addition the Nordea Group has the following group functions: Group Human Resources, Group Identity & Communications, Other Group functions, Group Corporate Centre and Group Risk Management. The consolidated interim report of Nordea Bank AB (publ) embraces all the activities of the Nordea Group and provides the most complete and fair view. This statutory interim report covers the operations of the legal entity Nordea Bank Norge ASA with its subsidiaries. Nordea Bank Norge Interim Report, Third Quarter 205 2

3 Nordea Bank Norge Group Group result and development Throughout this report the terms Nordea Bank Norge and NBN refer to Nordea Bank Norge ASA and its subsidiaries, while NBN ASA refers to Nordea Bank Norge ASA. Nordea Bank Norge ASA is a wholly owned subsidiary of Nordea Bank AB (publ.), the parent company in the Nordea Group. The terms Nordea and Nordea Group refer to Nordea Bank AB (publ.) and its subsidiaries. All figures are in NOK. Macro economy and financial markets The Norwegian economy showed signs of slowdown during the third quarter and the prospects have weakened as a result of the new downturn in oil and energy prices. According to Norges Bank s Regional Network Report, weakness is mainly within oil related industries although the service sector generally reports lower growth as well. Unemployment indicators provided a mixed picture of the labour market as the oil and energy related lay-offs partly have been offset by higher employment in other sectors. Inflation has been higher than expected despite weaker growth momentum, mainly caused by higher food prices and a weaker currency. Norges Bank cut the key policy rate by 25bps in tember to 0.75% along with signalling that further easing could come as a response to the weakening of the Norwegian economy. Norwegian equities fell 9% during the third quarter while 0-year yields dropped by 38bps. The Norwegian krone weakened by 6% in trade weighted terms. Business development Net profit in the third quarter amounted to,347m, marginally down from,352m in the same period last year. YTD net profit amounts to 4,074m compared to 3,50m last year. Retail banking develops and supports multi-channel offerings of advisory services with seamless customer experience across the different channels and welcomed close to new relationship customers during the quarter. The number of online meetings has increased further and after summer season tember was lifted to all time high level. Volume development impacted by summer season but high activity both within lending and savings related volumes. In Wholesale banking, activity picked up after the summer, driven by higher volatility particularly on FX. Bond markets in Norway were hit by the renewed drop in the oil price over the summer. Even the Norwegian Investment Grade bond market has experienced dramatic spread widening post summer. The competition continues to be intense in the lending market, however the recent development in the bond market might lead to a bond to bank flow back going forward. Outlook for the offshore sector has further weakened due to continued low oil price and reduction in exploration and production spending in the oil and gas industry and close monitoring of the sector continued in Q3. Loan volumes increased slightly, but less than the strengthened USD/NOK rate; volumes in transaction currency were slightly reduced. Income was good, mainly from yield fees and guarantee commissions. Net loan losses ended at 22m, corresponding to a loan loss ratio of 5 basis points. First nine months of 205 compared to first nine months of 204 Income Total income is marginally up from 9,722m to 9,748m. Net interest income Net interest income decreased 4% to 7,027m and is mainly caused by lower spreads in all business areas. Household lending spreads are down YTD due to interest rate reductions. Retail banking corporate is also showing a decrease in spreads because of strong competition. The lending spread in CIB is on par with last year while Shipping decreased marginally. The decrease is partly offset by improved spreads for deposits and growth of volume in both lending and deposits. Lending to the public increased by 6% to 508bn. Household lending grew 9% driven by mortgage lending. Corporate lending volumes are showing a stable growth. Total deposits from the public increased by 4% to 234bn at the end of the period. Retail Household is the main contributor but Shipping is also up. Other business areas are showing a slightly decrease. Net fee and commission income Net fee and commission income increased 5%, ending at,995m. Growth was driven by high levels of savings and payment related services. Net result from items at fair value Net result from items at fair value ended at 386m, down from 420m last year. During 205 Retail had a good year where sales of debt portfolio gave a large contribution. This is offset in Q3 by reduced contribution from Treasury. The reason is higher spreads having a negative effect on the liquidity buffer valuation. Equity method Net result for companies accounted for using the equity method amounted to 208m, which mainly relates to the 23.2% holding in Eksportfinans ASA. Nordea continues to apply its own valuation model to the valuation of Nordea Bank Norge Interim Report, Third Quarter 205 3

4 Eksportfinans s own debt. The increased result compared to last year relates to improved credit spread effects. Other operating income Other income amounted to 32m compared to 06m in the same period last year. Expenses Total operating expenses were down by % and ended at 3,73m compared to 4,67m in the same period last year. Adjusted for one time effects related to Accelerated Cost Efficiency (ACE) and impairment of intangible assets booked in Q3 last year total operating expenses are unchanged. The cost/income ratio decreased from 43% to 38%. Adjusted for one time effects the cost/income ratio is unchanged. Numbers of employees (FTEs) are reduced by %. Net loan losses Net loan losses dropped 25% with reductions in individual losses. Decrease in individual loan losses (4 basis points annualised) were driven by customers in Retail Banking and CIB. Taxes The effective tax rate was 25,4%, down from 26,8 % from same period last year. Net profit Net profit for the first nine months was 4,074m and increased 3% compared to the same period last year when adjusted for the aforementioned one time effects. Return on equity (annualised) for the first nine months 205 was 0.8%. Third quarter 205 compared to the second quarter 205 Income Total income had a % increase from previous quarter to 3,66m. Net interest income increased 3%, driven by higher volumes and a positive development in spreads. Total lending to public and deposit volume increased with 2%. Net fee and commission income was marginally up % from last quarter. Markets had an increase of revenue due to interest portfolio sales gains while treasury experienced a decrease in revenue compared to Q The decrease was caused by a tightening of derivatives spreads not reflected in the bonds, leaving the net result from items at fair value for Q3 at a loss of 26m. Expenses Total operating expenses were up %, mainly due to staff related expenses. Net loan losses Total net loan losses for Q3 205 was 22m, down from 90m Q2 205 mainly due to lower individual losses. Net profit Net profit has increased from,250m previous quarter to,347m. Return on equity (third quarter annualised) was 9.8% Other information Credit portfolio Total lending to the public increased by 2% to 508bn compared to the previous quarter. Impaired loans gross is down 2% compared to one year ago and has increased 7% from three months ago ending at 4,697m, corresponding to 86 basis points of total loans to the public. 58% of impaired loans gross are performing loans and 42% are non-performing loans. The total allowance rate is 54 basis points, compared to 64 basis points one year ago and 56 basis points at the end of last quarter. The industries with the largest allowances were construction and engineering, shipping and offshore, industrial commercial services and real estate management. Balance Sheet Total assets in the balance sheet grew 9% compared to one year ago and increased 4% compared to previous quarter. The main drivers of change in the last twelve months have been increased lending to the public and interest bearing securities. The main growth in liabilities is related to deposits from central banks and credit institutions, deposits from the public and debt securities in issue. Capital position and risk-weighted exposure NBN Group s common equity tier capital ratio including Basel I rules was 5.3% including profit (4.3 % excluding profit) at the end of the third quarter, an decrease of 0.5 percentage points from the end of the previous quarter. Including profit, the tier capital ratio including Basel I rules decreased 0.5 percentage points to 6.7 % (5.6% excluding profit). The total capital ratio including Basel I rules decreased 0.4 percentage points to 8.0% (6.9% excluding profit). Risk Exposure Amount, REA (previously referred to as riskweighted assets) was NOK 354bn including Basel I rules, an increase of NOK 8.3bn or 2.4% compared to the previous quarter. The increase was mainly driven by a reduction in credit quality in IRB corporate as well as increased Nordea Bank Norge Interim Report, Third Quarter 205 4

5 requirements due to the outcome of the Supervisory Review and Evaluation Process (SREP). These drivers were partially offset by a reduction in the Basel I floor adjustment. Including profit, own funds was NOK 63.7bn (NOK 60.0bn excluding profit), the tier capital was NOK 59.0bn including profit (NOK 55.4bn excluding profit) and the common equity tier capital was NOK 54,4bn including profit (NOK 50.7bn excluding profit). Excluding Basel I rules, the common equity tier ratio was 24.2 % including profit (22.6% excluding profit). Regulation Nordea is identified as a systemically important institution, and as communicated by the Ministry of Finance on 23 June 205 the risk buffer was activated at % on July 205. The Ministry of Finance, on 24 tember, decided not to amend the countercyclical buffer rate communicated on 8 June 205. Hence, the buffer rate applicable from 30 June 206 will be.5 %. Nordea s funding and liquidity operations The NBN group, through its subsidiary Nordea Eiendomskreditt AS (NEK), issued approximately 0.5bn of covered bonds in the first nine months of 205, whereof.6bn in GBP. Amounts maturing and purchased back were approximately.0bn during the first nine months of 205. A total of approximately 80.6bn has been rated and sold in the open market of NEK bonds (approximately 8.5bn issued in USD and 8.bn in GBP). For further information on liquidity management see the Annual Report 204. Continued focus on delivering on plan Many challenges still remain in a time of fundamental changes in our sector. But our journey continues in a clear and unchanged direction. We will continue to develop our services to meet the changing needs of our customers, and invest in our IT platform to secure our long-term ability to provide even more personalised and convenient solutions for our customers. Nordea Bank Norge Interim Report, Third Quarter 205 5

6 Quarterly development Q3 Q2 Q Q4 Q3 NOKm Net interest income 2,350 2,292 2,385 2,47 2,468 7,027 7,337 Net fee and commission income ,995,898 Net result from items at fair value Equity method Other operating income Total operating income 3,66 3,27 3,455 3,45 3,326 9,748 9,722 General administrative expenses: Staff costs ,277-2,453 Other expenses ,338 -,382 Depreciation of tangible and intangible assets Total operating expenses -,236 -,28 -,259 -,33 -,379-3,73-4,67 Profit before loan losses,930,909 2,96 2,20,947 6,035 5,555 Net loan losses Operating profit,808,79,934 2,066,823 5,46 4,788 Income tax expense ,387 -,287 Net profit for the period,347,250,477,462,352 4,074 3,50 Basic/diluted Earnings per share (EPS), NOK EPS, rolling 2 months up to period end, NOK Nordea Bank Norge Interim Report, Third Quarter 205 6

7 Income statements Q3 Q3 Full year NOKm Note Operating income Interest income 4,365 4,93 3,42 4,778 9,743 Interest expense -2,05-2,463-6,385-7,44-9,935 Net interest income 2,350 2,468 7,027 7,337 9,808 Fee and commission income ,644 2,5 3,50 Fee and commission expense Net fee and commission income ,995,898 2,668 Net result from items at fair value Profit/-loss from the companies accounted for under the equity method Other operating income Total operating income 3,66 3,326 9,748 9,722 3,73 Operating expenses General administrative expenses: Staff costs ,277-2,453-3,88 Other expenses ,338 -,382 -,948 Depreciation, amortisation and impairment charges of tangible and intangible assets Total operating expenses -,236 -,379-3,73-4,67-5,498 Profit before loan losses,930,947 6,035 5,555 7,675 Net loan losses Operating profit,808,823 5,46 4,788 6,854 Income tax expense ,387 -,287 -,89 Net profit for the period,347,352 4,074 3,50 4,963 Attributable to: Shareholder of Nordea Bank Norge ASA,347,352 4,074 3,50 4,963 Total,347,352 4,074 3,50 4,963 Basic/diluted Earnings per share (EPS), NOK Nordea Bank Norge Interim Report, Third Quarter 205 7

8 Statements of comprehensive income Q3 Q3 Full year NOKm Net profit for the period,347,352 4,074 3,50 4,963 Items that may be reclassified subsequently to the income statement Currency translation differences during the period Available-for-sale investements: Valuation gains/losses taken to equity Tax on valuation gains/losses during the period Cash flow hedges: Valuation gains/losses during the period Tax on valuation gains/losses during the period Items that may not be reclassified subsequently to the income statement Defined benefit plans: Remeasurement of defined benefit plans ,094 Tax on remeasurement of defined benefit plans Other comprehensive income, net of tax Total comprehensive income 97,27 4,28 3,22 4,335 Valuation gains/losses related to hedged risks under fair value hedge accounting are accounted for directly in the income statement. Nordea Bank Norge ASA Oslo, 2 November 205 Lennart Jacobsen Chairman Tom Johannessen Deputy chairman Karin S. Thorburn Hilde M. Tonne Hans Chr. Riise Employee representative Gunn Wærsted Chief Executive Officer Nordea Bank Norge Interim Report, Third Quarter 205 8

9 Balance sheets 30 3 Dec 30 NOKm Note Assets Cash and balances with central banks 66 2,499 5,007 Loans to central banks and credit institutions 7 32,335 7,863 23,036 Loans to the public 7 508, ,922 48,26 Interest-bearing securities 05,243 9,574 82,202 Financial instruments pledged as collateral 44,392,203 Shares Derivatives 2,37,95 3,357 Fair value changes of the hedged items in portfolio hedge of interest rate risk Investments in associated undertakings,702,495,53 Intangible assets Property and equipment, Investment property Current tax assets Other assets 2,820 8,790 9,9 Prepaid expenses and accrued income 2,04 2,049 2,443 Total assets 667, ,740 6,36 Liabilities Deposits by central banks and credit institutions 259, , ,870 Deposits and borrowings from the public 233, , ,943 Debt securities in issue 89,456 84,664 85,92 Derivatives 2 2,53,732 2,78 Fair value changes of the hedged items in portfolio hedge of interest rate risk,728,86,80 Current tax liabilities 450,24,407 Other liabilities 7,39 23,884 0,898 Accrued expenses and prepaid income,897,900 4,337 Deferred tax liabilities 2,82, Provisions Retirement benefit obligations,93 2,360 2,90 Subordinated liabilities 0,359 9,47 8,6 Total liabilities 6, , ,357 Equity Share capital 4,962 4,4 4,4 Share premium reserve 8,850 3,402 3,402 Other reserves Retained earnings 4,02 36,936 35,47 Total equity 55,249 45,20 43,779 Total liabilities and equity 667, ,740 6,36 Assets pledged as security for own liabilities 64,903 7,007 63,675 Contingent liabilities,736,774,76 Commitments 9,270 20,59 9,449 Nordea Bank Norge Interim Report, Third Quarter 205 9

10 Statements of changes in equity Other reserves Share premium Cash Flow Available-forsale Defined benefit Retained NOKm Share capital reserve investments hedges plans earnings Total equity Opening balance at Jan 205 4,4 3, ,936 45,20 Total comprehensive income ,074 4,28 Share capital increase 55 5, ,000 Share-based payments 2 Other changes 0 0 Closing balance at ,962 8, ,02 55,249 Other reserves Share premium Cash Flow Available-forsale Defined benefit Retained NOKm Share capital reserve investments hedges plans earnings Total equity Opening balance at Jan 204 4,4 3, ,963 40,775 Total comprehensive income ,963 4,335 Share-based payments Other changes -8-8 Closing balance at 3 Dec 204 4,4 3, ,936 45,20 Other reserves Share premium Cash Flow Available-forsale Defined benefit Retained NOKm Share capital reserve investments hedges plans earnings Total equity Opening balance at Jan 204 4,4 3, ,963 40,775 Total comprehensive income ,500 2,996 Share-based payments Other changes -7-7 Closing balance at ,4 3, ,47 43,779 The share capital is 4,962m (3 Dec 204: 4,4m, : 4,4m) consisting of 55m shares at par value of 9.00 (8.00 in 3 Dec 204 and ). 2 Refers to the Long Term Incentive Programme (LTIP). Nordea Bank Norge Interim Report, Third Quarter 205 0

11 Cash flow statements Full year NOKm Operating activities Operating profit 5,46 4,788 6,854 Adjustments for items not included in cash flow 2,687 3,462 3,37 Income taxes paid -2, Cash flow from operating activities before changes in operating assets and liabilities 5,635 7,805 9,794 Changes in operating assets and liabilities -9,69-2,935-4,360 Cash flow from operating activities -3,534 4,870 5,434 Investing activities Property and equipment Intangible assets Net investments in debt securities, held to maturity Cash flow from investing activities Financing activities Other changes in equity Increase in par value and share premium 6, Cash flow from financing activities 6, Cash flow for the period 2,496 5,084 5,29 Cash and cash equivalents at beginning of the period 5,425 0,207 0,207 Translation difference Cash and cash equivalents at end of the period 7,92 5,29 5,425 Change 2,496 5,084 5,29 Cash and cash equivalents 30 sep 30 3 Dec The following items are included in cash and cash equivalents (NOKm): Cash and balances with central banks 66 5,007 2,499 Loans to credit institutions, payable on demand 7,259 0,283 2,926 Cash comprises legal tender and bank notes in foreign currencies. Balances with central banks consist of deposits in accounts with central banks and postal giro systems under government authority, where the following conditions are fulfilled: - the central bank or the postal giro system is domiciled in the country where the institution is established - the balance on the account is readily available at any time. Loans to credit institutions, payable on demand include liquid assets not represented by bonds or other interest-bearing securities. Nordea Bank Norge Interim Report, Third Quarter 205

12 Notes to the financial statements Note - Accounting policies Nordea s consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) and interpretations of such standards by the International Financial Reporting Standards Interpretations Committee (IFRS IC), as endorsed by the EU Commission. These statements are presented in accordance with IAS 34 Interim Financial Reporting. As a result of rounding adjustments, the figures in one or more columns or rows included in the financial statements may not add up to the total of that column or row. Changed accounting policies and presentation The accounting policies, basis for calculations and presentation are, in all material aspects, unchanged in comparison with the 204 Annual Report, except for the presentation of covered bonds as described below. Commitments in NBN ASA towards outstanding covered bonds in Nordea Eiendomskreditt ASA To better reflect NBN ASA s commitment in relation to the outstanding amounts of issued covered bonds in Nordea Eiendomskreditt AS, the amounts outstanding to third parties are included in the commitments in NBN ASA. NBN ASA has also committed to the future payment of interest, however this is not included. The comparative figures have been restated accordingly and are disclosed in the table below. No restatement has been made for NBN Group as this is an internal guarantee within NBN Group. NBN ASA Q4 204 Q3 204 NOKm New Policy Old Policy New Policy Old Policy Commitments 20,60 2,24 207,007 5,808 IFRIC 2 Levies IFRIC 2 Levies published by IASB was implemented January 205. IFRIC 2 provides guidance on when to recognise a liability for a levy imposed by a government, both for levies that are accounted for in accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets and those where the timing and amount of the levy is certain. IFRIC 2 has not had any significant impact on Nordea s financial statements. Other changes in IFRS The following amendments published by IASB were implemented on January 205 but have not had any significant impact on Nordea s financial statements: Amendments to IAS 9 Defined benefit plans: Employee Contributions Annual Improvements to IFRSs, Cycle Annual Improvements to IFRSs, Cycle Exchange rates Full year EUR = NOK Income statement (average) Balance sheet (at end of period) USD = NOK Income statement (average) Balance sheet (at end of period) SEK = NOK Income statement (average) Balance sheet (at end of period) DKK = NOK Income statement (average) Balance sheet (at end of period) Nordea Bank Norge Interim Report, Third Quarter 205 2

13 Note 2 - Segment reporting Wholesale Banking Retail Shipping, Offshore & Other Group Corporate Wealth Total Operating Reconciliation Banking NO CIB Total Oil Services Wholesale 3,4 Centre Management 4 segments 2,3 Total Group Total operating income, NOKm 7,98 6,909,378,366,95, ,23 2, ,077 2,450-2,329-2,728 9,748 9,722 Operating profit, NOKm 3,852 3, , ,979 2, ,308 7,426 -,847-2,638 5,46 4,788 Loans to the public, NOKbn Deposits and borrowings from the public, NOKbn Reconciliation between total operating segments and financial statements Total operating income, NOKm 3,4 Operating profit, NOKm 3,4 Loans to the public, NOKbn Deposits and borrowings from the public, NOKbn Total Operating segments 2,077 2,450 7,308 7, Reconciliation 2 -,203 -,639 -,86-2, Eliminations Differences in accounting policies Differences in accounting policies between the segments and the group regarding Markets 3 -,26 -, Total 9,748 9,722 5,46 4, Segment reporting has been changed as a consequence of organisational changes throughout 205. Comparative information has been restated accordingly. 2 Consists of Group Risk Management, Sundry and Other Group Functions, made up of Group Internal Audit, Group Human Resources, Group Identity and Communications, Sundry units incl Eksportfinans, eliminations and allocations related to Markets as per footnote 3 below. 3 In the segment reporting the results from Markets and Savings and Assets Management operations are allocated to the operating segments as if they were the counterparts in the customer transactions. In the financial statements the results are recognised where the legal agreements with the customers have been established. 4 In the reporting results, net interest income, net commission income and other income/expenses are presented after allocations from other operating segments for services received or rendered from Wealth as if they were the counterparts in the transactions. In the financial statements the results are recognised where the legal agreements with the customer are established. This practice is also used within Transaction Products which is reported within Other Wholesale. Nordea Bank Norge Interim Report, Third Quarter 205 3

14 Note 2 - Segment reporting cont. Measurement of operating segments performance The measurement principles and allocation between operating segments follow the information reported to the Chief Operating Decision Maker (CODM), as required by IFRS 8. In Nordea the CODM has been defined as Group Executive Management (GEM). Compared with the 204 Annual Report there have been no changes in the measurement of segment profit or loss. Changes in basis of segmentation Nordea s organisation is developed around the three main business areas Retail Banking, Wholesale Banking and Wealth Management. The separate divisions within these main business areas have been identified as operating segments. Also Group Corporate Centre has been identified as an operating segment. Financial results are presented for the two main business areas Retail Banking and Wholesale Banking, with further breakdown on operating segments, and for the operating segment Group Corporate Centre. Other operating segments below the quantitative thresholds in IFRS 8 are included in Other operating segments. Other group functions and eliminations as well as the result that is not fully allocated to any of the operating segments, are shown separately as reconciling items. Reportable Operating segments Retail Banking conducts a full service banking operation. It is Nordea s largest customer area and serves household customers and corporate customers in the Nordic market. Customers within Retail Banking are offered a complete range of banking products and services including account products, transaction products, market products and insurance products. Wholesale Banking provides banking and other financial solutions to large Nordic and international corporate, institutional and public companies. Corporate & Insitutional Banking is a customer oriented division serving the largest globally operating corporates. The division Shipping Offshore & Oil Services is responsible for Nordea s customers within the shipping, offshore and oil services industries. Nordea provides tailormade solutions and syndicated loan transactions within this area. The segment Wealth Management is responsible for delivering savings, products and services in private banking, institutional asset management and large corporate pension customers. The segment Group Corporate Center is responsible for strategy, the finance function and obtaining funding for the Group. Note 3 - Net fee and commission income Q3 Q2 Q3 Full year NOKm Asset management commissions Life insurance Brokerage, securities issues and corporate finance Custody and issuer services Deposits Total savings and investments Payments Cards Total payment and cards ,224 Lending ,98 Guarantees and documentary payments Total lending related commissions ,25 Other commission income Fee and commission income ,644 2,5 3,50 Savings and investments Payments Cards State guarantee fees Other commission expenses Fee and commission expenses Net fee and commission income ,995,898 2,668 Nordea Bank Norge Interim Report, Third Quarter 205 4

15 Note 4 - Net result from items at fair value Q3 Q2 Q3 Full year NOKm Shares/participations and other share-related instruments Interest related instruments and foreign exchange gains/losses Investment properties Total Note 5 - Other expenses Q3 Q2 Q3 Full year NOKm Information technology Marketing and representation Postage, transportation, telephone, and office expenses Rents, premises, and real estate expenses Other Total ,338,382,948 Note 6 - Net loan losses Q3 Q2 Q3 Full year NOKm Divided by class Realised loan losses Recoveries on previous realised loan losses Loans to credit institutions Realised loan losses ,083 Allowances to cover realised loan losses Recoveries on previous realised loan losses Provisions Reversals of previous provisions Loans to the public Realised loan losses Provisions Reversals of previous provisions Off-balance sheet items Net loan losses See Note 7 Loans and impairment Nordea Bank Norge Interim Report, Third Quarter 205 5

16 Note 7 - Loans and impairment Total Jun 3 Dec 30 NOKm Loans, not impaired 538, ,274 56, ,653 Impaired loans 4,697 4,009 4,374 4,797 - Performing 2,74,88 2,330 2,584 - Non-performing,956 2,28 2,044 2,23 Loans before allowances 543, , , ,450 Allowances for individually assessed impaired loans -2,27-2,293-2,428-2,53 - Performing ,070 -,046 - Non-performing -,29 -,502 -,358 -,467 Allowances for collectively assessed impaired loans Allowances -2,96-2,932-3,044-3,53 Loans, carrying amount 540, ,35 57, ,297 Central banks and credit institutions The public Jun 3 Dec Jun 3 Dec 30 NOKm Loans, not impaired 32,335 24,957 7,863 23, , ,37 498, ,67 Impaired loans ,697 4,009 4,374 4,797 - Performing ,74,88 2,330 2,584 - Non-performing ,956 2,28 2,044 2,23 Loans before allowances 32,335 24,957 7,863 23,036 5,2 502, , ,44 Allowances for individually assessed impaired loans ,27-2,293-2,428-2,53 - Performing ,070 -,046 - Non-performing ,29 -,502 -,358 -,467 Allowances for collectively assessed impaired loans Allowances ,96-2,932-3,044-3,53 Loans, carrying amount 32,335 24,957 7,863 23, , , ,922 48,26 Allowances and provisions Jun 3 Dec 30 NOKm Allowances for items in the balance sheet -2,96-2,932-3,044-3,53 Provisions for off balance sheet items Total allowances and provisions -3,055-3,066-3,092-3,85 Key ratios Jun 3 Dec Impairment rate, gross, basis points Impairment rate, net 2, basis points Total allowance rate 3, basis points Allowances in relation to impaired loans 4, % Total allowances in relation to impaired loans 5, % Non-performing, not impaired, NOKm Individually assessed impaired loans before allowances divided by total loans before allowances. 2 Individually assessed impaired loans after allowances divided by total loans before allowances. 3 Total allowances divided by total loans before allowances. 4 Allowances for individually assessed impaired loans divided by individually assessed impaired loans before allowances. 5 Total allowances divided by total impaired loans before allowances. Nordea Bank Norge Interim Report, Third Quarter 205 6

17 Note 8 - Classification of financial instruments Loans and receivables Held to maturity Financial assets at fair value through profit or loss Held for trading Designated at fair value through profit or loss Derivatives used for hedging Available for sale NOKm Total Assets Cash and balances with central banks Loans to central banks and credit institutions 32, ,335 Loans to the public 507, ,205 Interest-bearing securities 5,508 33,477 66,258 05,243 Financial instruments pledged as collateral Shares Derivatives 3,98 8,73,37 Fair value changes of the hedged items in portfolio hedge of interest rate risk Other assets,37 849,986 Prepaid expenses and accrued income,976,976 Total ,490 5,508 37, ,73 66, ,73 Total 3 Dec ,46 5,887 64, ,867 37, ,39 Total ,783 5,866 50,595 2,523 32,28 606,896 Financial liabilities at fair value through profit or loss Held for trading Designated at fair value through profit or loss Derivatives used for hedging Other financial liabilities NOKm Total Liabilities Deposits by credit institutions , ,453 Deposits and borrowings from the public , ,970 Debt securities in issue 89,456 89,456 Derivatives 826,327 2,53 Fair value changes of the hedged items in portfolio hedge of interest rate risk,728,728 Other liabilities 3,327,078 4,405 Accrued expenses and prepaid income Subordinated liabilities 0,359 0,359 Total ,06 3,327, , ,340 Total 3 Dec 204 0,965 0,24 582, ,290 Total ,44 0,304 55, ,20 Nordea Bank Norge Interim Report, Third Quarter 205 7

18 Note 9 - Fair value of financial assets and liabilities Dec 204 NOKm Carrying amount Fair value Carrying amount Fair value Financial assets Cash and balances with central banks ,499 2,499 Loans 54, ,046 58,4 523,345 Interest-bearing securities 05,243 05,268 9,574 9,626 Financial instruments pledged as collateral 44 44,392,392 Shares Derivatives,37,37,95,95 Other assets,986,986 8,034 8,034 Prepaid expenses and accrued income,976,976 2,05 2,05 Total 662,73 666, ,39 65,305 Carrying amount Fair value Carrying amount Fair value Financial liabilities Deposits and debt instruments 594, ,645 57, ,46 Derivatives 2,53 2,53,732,732 Other liabilities 4,405 4,405 9,952 9,952 Accrued expenses and prepaid income Total 602, ,09 594, ,678 The determination of fair value is described in the 204 Annual Report, Note 40 Assets and liabilities at fair value. Nordea Bank Norge Interim Report, Third Quarter 205 8

19 Note 0 - Financial assets and liabilities measured at fair value on the balance sheet Categorisation into the fair value hierarchy Quoted prices in active markets for same instrument Valuation technique using observable data Valuation technique using non-observable data NOKm (Level ) (Level 2) (Level 3) Total Assets at fair value on the balance sheet Loans to central banks and credit institutions Loans to the public Interest-bearing securities 37,673 62,062 99,735 Shares Derivatives,357,357 Other assets Investment properties Total ,92 74, ,769 Total 3 Dec 204 3,208 76, ,036 Liabilities at fair value on the balance sheet Deposits by credit institutions Deposits and borrowings from the public Derivatives 2,53 2,53 Other liabilities 3,327 3,327 Total , ,760 Total 3 Dec 204 2,207 9, ,205 All items are measured at fair value on a recurring basis at the end of each reporting period. 2 Of which NOK 44m relates to the balance sheet item Financial instruments pledged as collateral Determination of fair values for items measured at fair value on the balance sheet Financial assets and liabilites with offsetting positions in markets risk and counterparty risk are measured on the basis of the price that would be received to sell the net asset position or paid to transfer the net liability position for that risk exposure. For more information about valuation techniques and inputs used in the fair value measurement, see the 204 Annual Report, Note 40 Assets and liabilities at fair value. Transfers between level and 2 During the period, Nordea transferred interest-bearing securities of NOK 2,9m from Level to Level 2 and NOK 2,005m from Level 2 to Level of the fair value hierarchy. The reason for the transfer from Level to Level 2 was that the instruments ceased to be actively traded during the period and fair values have now been obtained using valuation techniques with observable market inputs. The reason for the transfer from Level 2 to Level was that the instruments have again been actively traded during the period and reliable quoted prices are obtained in the market. Transfers between levels are considered to have occurred at the end of the reporting period. Movements in level 3 The following table shows a reconciliation of the opening and closing carrying amount of level 3 financial assets and liabilities recognised at fair value. Unrealised fair value gains/losses recorded in the income statement Purchases Sales Translation differences NOKm Jan 205 Assets Shares Relates to those assets and liabilites held at the end of the reporting period. During the period NBN Group had no transfers from level and level 2 to level 3 of the fair value hierarchy. Unrealised gains and losses relates to those assets and liabilities held at the end of the reporting period. Transfers between levels are considered to have occurred at the end of the reporting period. Fair value gains and losses in the income statement during the period are included in Net result from items at fair value. Assets and liabilities related to derivatives are presented net. Valuation techniques and inputs used in the fair value measurements in Level 3 NOKm Fair value Valuation techniques Unlisted Shares 83 Discounted cash flow/net asset value Total Nordea Bank Norge Interim Report, Third Quarter 205 9

20 Note - Capital adequacy These figures are according to part 8 of CRR Summary of items included in own funds Dec 2 30 NOKm Calculation of own funds Equity in the consolidated situation 55,249 45,20 40,279 Proposed/actual dividend Common Equity Tier capital before regulatory adjustments 55,249 45,20 40,279 Deferred tax assets Intangible assets IRB provisions shortfall (-) Deduction for investments in credit institutions (50%) Pension assets in excess of related liabilities Other items, net Total regulatory adjustments to Common Equity Tier capital Common Equity Tier capital (net after deduction) 54,398 44,552 39,692 Additional Tier capital before regulatory adjustments 4,665 5,87 4,985 Total regulatory adjustments to Additional Tier capital Additional Tier capital 4,665 5,87 4,985 Tier capital (net after deduction) 59,063 49,739 44,677 Tier 2 capital before regulatory adjustments 4,676 4,096 3,549 IRB provisions excess (+)/shortfall (-) Deduction for investments in credit institutions (50%) Deductions for investments in insurance companies Pension assets in excess of related liabilities Other items, net Total regulatory adjustments to Tier 2 capital Tier 2 capital 4,676 4,73 3,67 Own funds (net after deduction) 63,739 53,92 48,294 Shortfall is now deducted 00% CET, previously 50% T, 50% T2 2 Including profit Own Funds excluding profit 30 3 Dec 30 NOKm Common Equity Tier capital, excluding profit 50,70 39,589 39,692 Total Own Funds, excluding profit 60,042 48,949 48,294 Nordea Bank Norge Interim Report, Third Quarter

21 Note - Capital adequacy cont. Minimum capital requirement and REA Dec 3 Dec NOKm Minimum Capital requirement REA Minimum Capital requirement REA Minimum Capital requirement REA Credit risk 5,48 89,347 4,373 79,658 4,234 77,928 - of which counterparty credit risk 28 2, ,4 04,306 IRB 3,399 67,484 2,884 6,05 2,909 6,357 - of which corporate 9,754 2,928 9,849 23,08 9,84 23,06 - of which advanced 9,88 4,849 9,309 6,355 9,296 6,97 - of which foundation 566 7, , ,88 - of which institutions 440 5, , ,532 - of which retail 2,943 36,782 2,498 3,227 2,505 3,3 - of which secured by immovable property collateral 2,259 28,233,86 22,699,87 22,709 - of which other retail 684 8, , ,603 - of which other 262 3, , ,499 Standardised,749 2,863,489 8,607,326 6,57 - of which central governments or central banks of which regional governments or local authorities of which public sector entities of which multilateral development banks of which international organisations of which institutions 920, , ,64 - of which corporate of which retail 502 6, , ,08 - of which secured by mortgages on immovable property - of which in default of which associated with particularly high risk of which covered bonds of which institutions and corporates with a short-term credit assessment of which collective investments undertakings (CIU) of which equity of which other items 252 3,5 27 2, ,485 Credit Value Adjustment Risk Market risk 280 3, , ,74 - of which trading book, Internal Approach 233 2, , ,362 - of which trading book, Standardised Approach of which banking book, Standardised Approach 95,85 Operational risk,826 22,822,744 2,806,744 2,806 Standardised,826 22,822,744 2,806,744 2,806 Additional risk exposure amount due to Article 3 CRR 659 8,239 Sub total 7, ,557 6, ,347 6, ,665 Adjustment for Basel I floor Additional capital requirement according to Basel I floor 0,388 29,859,658 45,728 0,889 36,7 Total 28, ,46 28,086 35,075 27,83 339,782 Norwegian regulatory requirement as reported under the Basel II regulation framework Nordea Bank Norge Interim Report, Third Quarter 205 2

22 Note - Capital adequacy cont. Minimum Capital Requirement & Capital Buffers Capital Buffers Minimum Percentage Capital requirement CCoB CCyB O-SII SRB Capital Buffers total Total Common Equity Tier capital Tier capital Own funds NOKm Common Equity Tier capital 5,949 8,860 2,937 3,544 0,632 25,974 4,923 Tier capital 2,265 8,860 2,937 3,544 0,632 25,974 47,239 Own funds 28,353 8,860 2,937 3,544 0,632 25,974 54,328 Common Equity Tier available to meet Capital Buffers 30,2 3 Dec 30 Percentage points of REA Common Equity Tier capital Including profit of the period 2 Including Basel I floor Capital ratios 30 3 Dec 30 Percentage Common Equity Tier capital ratio, including profit Tier capital ratio, including profit Total Capital ratio, including profit Common Equity Tier capital ratio, excluding profit Tier capital ratio, excluding profit Total Capital ratio, excluding profit Capital ratios including Basel I floor 30 3 Dec 30 Percentage Common Equity Tier capital ratio, including profit Tier capital ratio, including profit Total Capital ratio, including profit Common Equity Tier capital ratio, excluding profit Tier capital ratio, excluding profit Total Capital ratio, excluding profit Leverage ratio 30 3 Dec Tier capital, transitional definition, NOKm 59,063 49,739 44,677 Leverage ratio exposure, NOKm 797,505 78, ,038 Leverage ratio, percentage Including profit of the period Nordea Bank Norge Interim Report, Third Quarter

23 Note - Capital adequacy cont. On-balance exposure, NOKm Off-balance exposure, NOKm Exposure value (EAD), NOKm of which EAD for off-balance, NOKm Exposureweighted average risk weight: Credit risk exposures for which internal models are used, split by rating grade Corporate, foundation IRB: 0, , of which rating grades of which rating grades 5,620 98, of which rating grades 4 5, , of which rating grades 3 2, , of which rating grades of which rating grades of which unrated of which defaulted Corporate, advanced IRB: 227,728 85,32 268,804 42, of which rating grades 6 0,365 9,796 5,265 5, of which rating grades 5 43,677 33,578 6,302 7, of which rating grades 4 36,394 34,967 52,935 6, of which rating grades 3 25,336 5,89 27,624 3, of which rating grades 2 6, , of which rating grades of which unrated,032 30, of which defaulted 3, , Institutions, foundation IRB: 46,009 4,026 55,067 3, of which rating grades 6 40, , of which rating grades 5 4,824,086 9, of which rating grades ,935 3,62 2, of which rating grades of which rating grades of which rating grades of which unrated of which defaulted Retail, of which secured by real estate: 25,350 8,406 22,372 6, of which scoring grades A 38,427 5,062 43,33 4, of which scoring grades B 42,950 2,039 43, of which scoring grades C 5, , of which scoring grades D 8, , of which scoring grades E 7, , of which scoring grades F,54 30, of which not scored of which defaulted Retail, of which other retail: 32,07,84 37,375 5, of which scoring grades A 4,697 6,730 7,606 2, of which scoring grades B 7,368 2,56 8,532, of which scoring grades C 3,382,67 3, of which scoring grades D 2, , of which scoring grades E 3, , of which scoring grades F of which not scored of which defaulted Other non credit-obligation assets: 3, , Nordea does not have the following IRB exposure classes: equity exposures, items representing securitisation positions, central governments and central banks, qualifying revolving retail Includes EAD for on-balance, off-balance, derivatives and securities financing Nordea Bank Norge Interim Report, Third Quarter

Interim Report 1 st quarter 2016 Nordea Bank Norge Group

Interim Report 1 st quarter 2016 Nordea Bank Norge Group Interim Report st quarter 206 Nordea Bank Norge Group Nordea s vision is to be a Great European bank, acknowledged for its people, creating superior value for customers and shareholders. We are making

More information

Interim Report 2 nd quarter 2014 Nordea Eiendomskreditt AS

Interim Report 2 nd quarter 2014 Nordea Eiendomskreditt AS Interim Report 2 nd quarter 2014 Nordea Eiendomskreditt AS Nordea Eiendomskreditt AS is part of the Nordea group. Nordea s vision is to be a Great European bank, acknowledged for its people, creating superior

More information

Annual Report 2015 Nordea Bank Norge

Annual Report 2015 Nordea Bank Norge Annual Report 2015 Nordea Bank Norge Nordea Bank Norge Annual Report 2015 2 Contents Key financial figures 4 Quarterly development 5 Five year overview 6 Board of Directors report Group organisation 7

More information

Words from the President and CEO 3 Financial highlights 4 Highlights 5 Export lending 5 Local government lending 6 Funding 6 Results 6 Balance sheet

Words from the President and CEO 3 Financial highlights 4 Highlights 5 Export lending 5 Local government lending 6 Funding 6 Results 6 Balance sheet Words from the President and CEO 3 Financial highlights 4 Highlights 5 Export lending 5 Local government lending 6 Funding 6 Results 6 Balance sheet 7 Events after the balance sheet date 8 Income statement

More information

Cover photo: Sturlason

Cover photo: Sturlason Financial highlights 03 Report from the board of directors 04 Results 04 Balance sheet 05 Lending 05 Securities 05 Liquidity 06 Prospects for the second half-year of 2016 07 Events after the balance sheet

More information

Interim Management Statement Third Quarter Results 2015

Interim Management Statement Third Quarter Results 2015 Copenhagen, Helsinki, Oslo, Stockholm, 21 October 2015 Interim Management Statement Third Quarter Results 2015 CEO Christian Clausen s comments on the results: The summer months featured a seasonally lower

More information

Appendix D Nordea Bank Norge. Disclosures according to Kapitalkravsforskriften as of 31 December 2014

Appendix D Nordea Bank Norge. Disclosures according to Kapitalkravsforskriften as of 31 December 2014 Appendix D Nordea Bank Norge Disclosures according to Kapitalkravsforskriften as of 31 December 2014 For qualitative disclosures regarding approaches, definitions, processes, methods, etc., the reader

More information

First half-year report 2013 2

First half-year report 2013 2 Financial highlights... 3 Comments from the president and CEO 4 Report from the board of directors. 4 Results 4 Balance sheet. 6 Export lending... 6 Local government lending... 6 Securities.. 6 Funding....

More information

Year-end report 2014-12

Year-end report 2014-12 Year-end report -12 Results for the full year Business volume increased by 7 percent to bnsek 41.8 (38.9). Lending, including leasing, increased by 11 percent to bnsek 22.0 (19.8). Deposits increased by

More information

Appendix D Nordea Bank Norge. Disclosures according to Kapitalkravsforskriften as of 31 December 2015

Appendix D Nordea Bank Norge. Disclosures according to Kapitalkravsforskriften as of 31 December 2015 Appendix D Nordea Bank Norge Disclosures according to Kapitalkravsforskriften as of 31 December 2015 For qualitative disclosures regarding approaches, definitions, processes, methods, governance etc.,

More information

First quarter report 2013 2

First quarter report 2013 2 highlights... 3 Comments from the President and CEO. 4 Report from the board of directors. 4 Results 4 Balance sheet. 6 Export lending... 6 Local government lending... 6 Securities. 6 Funding.... 6 Liquidity....

More information

OP MORTGAGE BANK Stock exchange release 27 April 2016 Interim Report. OP Mortgage Bank Interim Report for January March 2016

OP MORTGAGE BANK Stock exchange release 27 April 2016 Interim Report. OP Mortgage Bank Interim Report for January March 2016 OP MORTGAGE BANK Stock exchange release 27 April 2016 Interim Report OP Mortgage Bank Interim Report for January March 2016 OP Mortgage Bank (OP MB) is part of OP Financial Group and its role is to raise,

More information

Interim report. Storebrand Boligkreditt AS

Interim report. Storebrand Boligkreditt AS Interim report Storebrand Boligkreditt AS 1 st quarter 2014 1 Storebrand Boligkreditt AS - Kvartalsberetning interim report for the for 1. 1st kvartal quarter 2014 of 2014 (Result (Tall i parentes figures

More information

Interim report Q1 2013 KLP Banken AS Group

Interim report Q1 2013 KLP Banken AS Group Interim report Q1 2013 KLP Banken AS Group Contents Interim financial statement 1/2013 3-4 Income statement 5 Financial position statement 6 Statement of owners equity 7 Statement of cash flows 8 Notes

More information

SpareBank 1 Nord-Norge Preliminary annual accounts 2010 Group

SpareBank 1 Nord-Norge Preliminary annual accounts 2010 Group SpareBank 1 Nord-Norge Preliminary annual accounts 2010 Group Very good results for the 4 th quarter and 2010 overall. The Bank s financial strength remains strong. Highlights (figures in brackets refer

More information

Financial Data Supplement 2Q2013

Financial Data Supplement 2Q2013 Deutsche Bank Financial Data Supplement 2Q2013 30 July 2013 1 2 2Q2013 Financial Data Supplement Deutsche Bank consolidated Financial summary 2 Group Core Bank Non-Core Operations Unit 3 Consolidated Statement

More information

Information on Capital Structure, Liquidity and Leverage Ratios as per Basel III Framework. as at March 31, 2015 PUBLIC

Information on Capital Structure, Liquidity and Leverage Ratios as per Basel III Framework. as at March 31, 2015 PUBLIC Information on Capital Structure, Liquidity and Leverage Ratios as per Basel III Framework as at Table of Contents Capital Structure Page Statement of Financial Position - Step 1 (Table 2(b)) 3 Statement

More information

Annual Report 2012 Nordea Bank Norge

Annual Report 2012 Nordea Bank Norge Annual Report 2012 Nordea Bank Norge Nordea Bank Norge Annual Report 2012 2 Contents Key financial figures 4 Board of Directors report Group organisation 5 Macroeconomic and financial market development

More information

Income statement, 5-year summary Q1, 2013

Income statement, 5-year summary Q1, 2013 00B 0B, 5-year summary Financial information, Group, Group FY FY FY FY FY SEKm 2012 2) 2011 2010 1) 2009 2008 Net interest income 1) 20 361 19 014 16 228 20 765 21 702 Net commission income 1) 9 614 9

More information

18,343 18,308 3 Accumulated other comprehensive income (and other reserves)

18,343 18,308 3 Accumulated other comprehensive income (and other reserves) The information in this report is prepared quarterly based on the ADI financial records. The financial records are not audited for the Quarters ended 30 September, 31 December and 31 March. The report

More information

Notes. Contents. 1st Quarter 2014

Notes. Contents. 1st Quarter 2014 Notes Contents Note 1 - Accounting principles... 2 Note 2 - Critical estimates and assessment concerning the use of accounting principles... 3 Note 3 - Account by business line... 4 Note 4 - Operating

More information

Annual Report 2015 Nordea Bank Finland

Annual Report 2015 Nordea Bank Finland Annual Report 2015 Nordea Bank Finland Nordea Bank Finland Plc is part of the Nordea. Nordea s vision is to be a Great European bank, acknowledged for its people, creating superior value for customers

More information

Interim report for the 3rd quarter of 2008. Glitnir Bank ASA

Interim report for the 3rd quarter of 2008. Glitnir Bank ASA Interim report for the 3rd quarter of 2008 Glitnir Bank ASA contents Report of the Directors...3 Consolidated Income Statement...5 Consolidated Balance Sheet...6 Consolidated Statement of Changes in Equity...7

More information

mr. M.G.F.M.V. Janssen Secretary to the Managing Board T: +31 20 557 52 30 I: www.kasbank.com

mr. M.G.F.M.V. Janssen Secretary to the Managing Board T: +31 20 557 52 30 I: www.kasbank.com Date: 27 August 2015 For information: mr. M.G.F.M.V. Janssen Secretary to the Managing Board T: +31 20 557 52 30 I: www.kasbank.com Growth of 20% in net result, excluding non-recurring items, to EUR 8.3

More information

Annual Report 2014 Nordea Hypotek AB (publ)

Annual Report 2014 Nordea Hypotek AB (publ) Annual Report 2014 Nordea Hypotek AB (publ) Nordea s vision is to be a Great European bank, acknow ledged for its people, creating superior value for customers and shareholders. We are making it possible

More information

BN Bank ASA INTERIM REPORT 4TH QUARTER 2014

BN Bank ASA INTERIM REPORT 4TH QUARTER 2014 BN Bank ASA INTERIM REPORT 4TH QUARTER 2014 Content Financial Ratios... 3 Report from the Board of Directors... 4 GROUP Income Statement... 8 Balance Sheet... 9 Change in Equity...10 Cash Flow Analysis...11

More information

Carnegie Investment Bank AB (publ) Year-end report

Carnegie Investment Bank AB (publ) Year-end report Carnegie Investment Bank AB (publ) (Corp. reg. no. 516406-0138) Year-end report 1 January 31 December 2009 Carnegie Investment Bank AB (publ) is a leading independent investment bank with Nordic focus.

More information

DNB Group FACT BOOK (PRELIMINARY AND UNAUDITED)

DNB Group FACT BOOK (PRELIMINARY AND UNAUDITED) 1 DNB Group FACT BOOK First quarter 2013 (PRELIMINARY AND UNAUDITED) Group Chief Executive Rune Bjerke For further information, please contact Bjørn Erik Næss, Chief Financial Officer bjorn.erik.naess@dnb.no

More information

Interim Report 1 January 31 March Volvofinans Bank AB

Interim Report 1 January 31 March Volvofinans Bank AB Interim Report 1 January 31 March Volvofinans Bank AB Message from the President January March highlights Pre-tax profit SEK 75.7 million (58.7) Return on equity 7.5% (5.8) Lending at 31 March of SEK 23.9

More information

Q2 2003 Sales volume insurance (weighted*) Total 7,298 6,261 5,741 4,517 5,393 8,254 Q1 2003 Q4 2002 Q1 2002 Q3 2002

Q2 2003 Sales volume insurance (weighted*) Total 7,298 6,261 5,741 4,517 5,393 8,254 Q1 2003 Q4 2002 Q1 2002 Q3 2002 Appendix 1 SEB Trygg Liv SEB Trygg Liv represents the SEB Group s life insurance business according to a bank-assurance concept, i.e. an integrated banking and insurance business. The purpose of the concept

More information

Fourth quarter report 2013 2. Cover photo: Rune Rimmereide Nilsen

Fourth quarter report 2013 2. Cover photo: Rune Rimmereide Nilsen Financial highlights... 3 Comments from the CEO.... 4 Report from the board of directors. 4 Results 4 Balance sheet. 6 Export lending... 6 Local government lending... 6 Securities.. 6 Funding.... 7 Liquidity....

More information

SG FINANS AS 2015 QUARTERLY REPORT FIRST QUARTER

SG FINANS AS 2015 QUARTERLY REPORT FIRST QUARTER SG FINANS AS 2015 QUARTERLY REPORT FIRST QUARTER CONTENTS REPORT OF THE BOARD OF DIRECTORS 3 INTERIM FINANCIAL STATEMENT INCOME STATEMENT 5 ASSETS 6 LIABILITIES & EQUITY 6 STATEMENT OF CHANGES IN EQUITY

More information

NASDAQ OMX Copenhagen A/S. Preliminary announcement of financial statements 2014 24 February 2015

NASDAQ OMX Copenhagen A/S. Preliminary announcement of financial statements 2014 24 February 2015 NASDAQ OMX Copenhagen A/S EXECUTIVE BOARD Vestergade 8-16 DK-8600 Silkeborg Tel.: +45 89 89 89 89 Fax: +45 89 89 19 99 www. jyskebank.dk E-mail: jyskebank@jyskebank.dk Business reg. no. DK17616617 - Preliminary

More information

REFERENCE CONSOLIDATED FINANCIAL STATEMENTS FOR INFORMATION TO BE PUBLISHED IN RESPECT OF THE 2005 FINANCIAL YEAR

REFERENCE CONSOLIDATED FINANCIAL STATEMENTS FOR INFORMATION TO BE PUBLISHED IN RESPECT OF THE 2005 FINANCIAL YEAR REFERENCE CONSOLIDATED FINANCIAL STATEMENTS FOR INFORMATION TO BE PUBLISHED IN RESPECT OF THE 2005 FINANCIAL YEAR EFFECTS OF THE TRANSITION TO IFRS ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER

More information

Consolidated Statement of Profit or Loss (in million Euro)

Consolidated Statement of Profit or Loss (in million Euro) Consolidated Statement of Profit or Loss (in million Euro) Q2 2012 Q2 2013 % H1 2012 H1 2013 % Restated * change Restated * change Revenue 779 732-6.0% 1,513 1,437-5.0% Cost of sales (553) (521) -5.8%

More information

Subject: Preliminary consolidated financial statements of the Capital Group of Bank Handlowy w Warszawie S.A. for the 2014

Subject: Preliminary consolidated financial statements of the Capital Group of Bank Handlowy w Warszawie S.A. for the 2014 Warsaw, February 12, 2015 Subject: Preliminary consolidated financial statements of the Capital Group of Bank Handlowy w Warszawie S.A. for the 2014 Legal basis: Art. 5 section 1 item 25) of the Ordinance

More information

Second Quarter Results 2014 Investor presentation

Second Quarter Results 2014 Investor presentation Second Quarter Results 2014 Investor presentation Second Fourth Quarter and Results 2015 Full Year Results 2014 Press conference Christian Investor Clausen, presentation President and Group CEO Christian

More information

INTERIM REPORT. Q1 2015 (unaudited)

INTERIM REPORT. Q1 2015 (unaudited) INTERIM REPORT Q1 2015 (unaudited) Key figures FIGURES IN NOK 000s INCOME STATEMENT Profit/loss after taxation 29 446 32 079 112 243 Net interest margin 1,53 % 1,81 % 1,64 % Profit/loss after tax as a

More information

INTERIM FINANCIAL STATEMENT AS PER 30 SEPTEMBER 2015

INTERIM FINANCIAL STATEMENT AS PER 30 SEPTEMBER 2015 INTERIM FINANCIAL STATEMENT AS PER 30 SEPTEMBER 2015 15 3 Consolidated balance sheet 5 Consolidated income statement 6 Statement of changes in equity 7 Condensed notes INTERIM FINANCIAL STATEMENT AS PER

More information

Note 2 SIGNIFICANT ACCOUNTING

Note 2 SIGNIFICANT ACCOUNTING Note 2 SIGNIFICANT ACCOUNTING POLICIES BASIS FOR THE PREPARATION OF THE FINANCIAL STATEMENTS The consolidated financial statements have been prepared in accordance with International Financial Reporting

More information

IBM Finans Norge AS. Condensed Interim Financial Statements. 30 September 2014

IBM Finans Norge AS. Condensed Interim Financial Statements. 30 September 2014 Condensed Interim Financial Statements Condensed Interim Financial Statements For the Quarter Ended Contents Page Condensed Interim Statement of Comprehensive Income 2 Condensed Interim Statement of Financial

More information

NN GROUP FINANCIAL SUPPLEMENT 4Q2014

NN GROUP FINANCIAL SUPPLEMENT 4Q2014 NN GROUP FINANCIAL SUPPLEMENT 4Q2014 NN GROUP FINANCIAL SUPPLEMENT 4Q2014 INTRODUCTION The Financial Supplement includes quarterly financial trend data and is published on a quarterly basis. Rounding could

More information

Interim Financial Report 2015

Interim Financial Report 2015 Interim Financial Report 2015 ABN AMRO Bank N.V. Notes to the reader Introduction This is the Interim Financial Report for the year 2015 of ABN AMRO Bank N.V. (ABN AMRO Bank). ABN AMRO Bank N.V. is a wholly

More information

In addition, Outokumpu has adopted the following amended standards as of January 1, 2009:

In addition, Outokumpu has adopted the following amended standards as of January 1, 2009: 1. Corporate information Outokumpu Oyj is a Finnish public limited liability company organised under the laws of Finland and domiciled in Espoo. The parent company, Outokumpu Oyj, has been listed on the

More information

12.31.2014 CONSOLIDATED FINANCIAL STATEMENTS. (Unaudited figures)

12.31.2014 CONSOLIDATED FINANCIAL STATEMENTS. (Unaudited figures) 12.31.2014 CONSOLIDATED FINANCIAL STATEMENTS (Unaudited figures) CONTENTS Consolidated financial statements Consolidated balance sheet 1 Consolidated income statement 3 Statement of net income and unrealised

More information

HIGHLIGHTS FIRST QUARTER 2016

HIGHLIGHTS FIRST QUARTER 2016 Q1-16 EUROPRIS ASA 2 CONTENTS / HIGHLIGHTS FIRST QUARTER 2016 HIGHLIGHTS FIRST QUARTER 2016 (Figures for the corresponding period of last year in brackets. The figures are unaudited.) Group revenues increased

More information

VIII. Parent company financial statements Credit Suisse (Bank) 339 Report of the Statutory Auditors. 340 Financial review. 341 Statements of income

VIII. Parent company financial statements Credit Suisse (Bank) 339 Report of the Statutory Auditors. 340 Financial review. 341 Statements of income VIII Parent company financial statements Credit Suisse (Bank) 339 Report of the Statutory Auditors 340 Financial review 341 Statements of income 342 Balance sheets 343 Off-balance sheet business 344 Notes

More information

Update on 2014 and strategic priorities. Morgan Stanley 11 th Annual European Financials Conference Torsten Hagen Jørgensen, Group CFO

Update on 2014 and strategic priorities. Morgan Stanley 11 th Annual European Financials Conference Torsten Hagen Jørgensen, Group CFO Update on 2014 and strategic priorities Morgan Stanley 11 th Annual European Financials Conference Torsten Hagen Jørgensen, Group CFO Disclaimer This presentation contains forward-looking statements that

More information

Supplementary Financial Information

Supplementary Financial Information Supplementary Financial Information For the period ended April 30, 2016 For further information, please contact: John Ferren, Senior Vice-President, Corporate CFO and Investor Relations (416) 980-2088

More information

Condensed Consolidated Interim Financial Statements Q4 2014. aegon.com

Condensed Consolidated Interim Financial Statements Q4 2014. aegon.com Condensed Consolidated Interim Financial Statements Q4 2014 aegon.com The Hague, February 19, 2015 Table of contents Condensed consolidated income statement 2 Condensed consolidated statement of comprehensive

More information

Main differences between the financial consolidation method and the regulatory consolidation method, considering regulatory adjustments

Main differences between the financial consolidation method and the regulatory consolidation method, considering regulatory adjustments Disclosure Report pursuant to the Capital Requirements Regulation as of 31 December 214 1 Scope of Application Regulatory Requirements Since 1 January 214, BCR Group has been calculating the regulatory

More information

SEK M Q4 02 Q3 02 Q2 02 Q1 02 Q4 01 Q3 01 Sales volume insurance (weighted*) Total 5,741 4,517 5,393 8,254 6,802 6,032

SEK M Q4 02 Q3 02 Q2 02 Q1 02 Q4 01 Q3 01 Sales volume insurance (weighted*) Total 5,741 4,517 5,393 8,254 6,802 6,032 Appendix 1 SEB Trygg Liv SEB Trygg Liv represents the SEB Group s life insurance business according to a bank-assurance concept, i.e. an integrated banking and insurance business. The purpose of the concept

More information

SEK M Q2 02 Q1 02 Q4 01 Q3 01 Q2 01 Q1 01 Sales volume insurance (weighted*) Total 5,393 8,254 6,802 6,032 7,535 8,276

SEK M Q2 02 Q1 02 Q4 01 Q3 01 Q2 01 Q1 01 Sales volume insurance (weighted*) Total 5,393 8,254 6,802 6,032 7,535 8,276 Appendix 1 SEB Trygg Liv SEB Trygg Liv represents the SEB Group s life insurance business according to a bank-assurance concept, i.e. an integrated banking and insurance business. The purpose of the concept

More information

INTERIM REPORT Q1 2016 PROTECTOR FORSIKRING ASA

INTERIM REPORT Q1 2016 PROTECTOR FORSIKRING ASA INTERIM REPORT Q1 2016 PROTECTOR FORSIKRING ASA (UNAUDITED) APRIL 2016 Highlights Q1 2016 Growth 26% - First UK client on board Protector delivers a strong premium growth for the first quarter of 2016,

More information

First quarter report 2011 2

First quarter report 2011 2 Comment from the President and CEO 3 Financial highlights... 4 Highlights 5 Export lending.. 5 Local government lending.. 6 Securities. 6 Funding. 6 Results 7 Balance sheet. 8 Statement of comprehensive

More information

GE Capital Finance Australia APS 330: Public Disclosure of Prudential Information December 2013 (AUD $ million)

GE Capital Finance Australia APS 330: Public Disclosure of Prudential Information December 2013 (AUD $ million) December 2013 (AUD $ million) Important Notice This document has been prepared to meet the disclosure obligations under the Australian Prudential Regulation Authority (APRA) APS 330 Capital Adequacy: Public

More information

HSBC BANK CANADA FIRST QUARTER 2014 RESULTS

HSBC BANK CANADA FIRST QUARTER 2014 RESULTS 7 May 2014 HSBC BANK CANADA FIRST QUARTER 2014 RESULTS Profit before income tax expense for the quarter ended 2014 was C$233m, a decrease of 13.4% compared with the same period in and broadly unchanged

More information

Roche Capital Market Ltd Financial Statements 2009

Roche Capital Market Ltd Financial Statements 2009 R Roche Capital Market Ltd Financial Statements 2009 1 Roche Capital Market Ltd, Financial Statements Reference numbers indicate corresponding Notes to the Financial Statements. Roche Capital Market Ltd,

More information

Condensed Consolidated Interim Financial Statements

Condensed Consolidated Interim Financial Statements Condensed Consolidated Interim Financial Statements Landsbankinn hf. Reg. No. 471008-0280 +354 410 4000 www.landsbankinn.is This page has been left blank intentionally. Content Page Endorsement and Statement

More information

SpareBank 1 Nord-Norge First quarter report 2010 the Group

SpareBank 1 Nord-Norge First quarter report 2010 the Group SpareBank 1 Nord-Norge First quarter report 2010 the Group Very satisfactory result for Q1 2010. The bank has sustained its high level of solidity. Main features (figures in brackets refer to the same

More information

Equity per share (NOK) 147 123 131 Equity ratio 39 % 38 % 36 % Non-current net asset value per share (NOK) (EPRA NNNAV) 2) 184 152 165

Equity per share (NOK) 147 123 131 Equity ratio 39 % 38 % 36 % Non-current net asset value per share (NOK) (EPRA NNNAV) 2) 184 152 165 REPORT FOR Q2 AND THE FIRST 6 MONTHS OF 2015 KEY FIGURES Amounts in NOK million Q2 2015 Q2 2014 30.06.15 30.06.14 2014 Net rental income 501 450 1 005 904 1 883 Fair value adjustments in investment properties

More information

Investeringsselskabet. Nasdaq OMX Copenhagen A/S Announcement No 7 Nikolaj Plads 6 page 1 of 19 PO Box 1040 date 27 August 2015

Investeringsselskabet. Nasdaq OMX Copenhagen A/S Announcement No 7 Nikolaj Plads 6 page 1 of 19 PO Box 1040 date 27 August 2015 Investeringsselskabet LUXOR Frederiksborggade 50, 1360 København K Telefon 33 32 50 15 Telefax 33 12 41 70 CVR-nr. 49 63 99 10 Nasdaq OMX Copenhagen A/S Announcement No 7 Nikolaj Plads 6 page 1 of 19 PO

More information

Interim report. Storebrand Boligkreditt AS. 4 th quarter 2013 (unaudited)

Interim report. Storebrand Boligkreditt AS. 4 th quarter 2013 (unaudited) Interim report Storebrand Boligkreditt AS 4 th quarter 2013 (unaudited) 1 Storebrand Boligkreditt AS - Quarterly report for the 4th quarter (Profit (Tall i parentes figures for gjelder the corresponding

More information

Volex Group plc. Transition to International Financial Reporting Standards Supporting document for 2 October 2005 Interim Statement. 1.

Volex Group plc. Transition to International Financial Reporting Standards Supporting document for 2 October 2005 Interim Statement. 1. Volex Group plc Transition to International Financial Reporting Standards Supporting document for 2 October 2005 Interim Statement 1. Introduction The consolidated financial statements of Volex Group plc

More information

Interim report January 1 March 31, 2014

Interim report January 1 March 31, 2014 Odd Molly International AB (publ) Stockholm, Sweden, April 29, 2014 Interim report January 1 March 31, 2014 More stores and new sales organization January 1 March 31, 2014 Net sales amounted to SEK 82.8

More information

EKO FAKTORİNG A.Ş. FINANCIAL STATEMENTS AT 31 DECEMBER 2013 TOGETHER WITH INDEPENDENT AUDITOR S REPORT

EKO FAKTORİNG A.Ş. FINANCIAL STATEMENTS AT 31 DECEMBER 2013 TOGETHER WITH INDEPENDENT AUDITOR S REPORT FINANCIAL STATEMENTS TOGETHER WITH INDEPENDENT AUDITOR S REPORT FINANCIAL STATEMENTS CONTENTS PAGES BALANCE SHEET (STATEMENT OF FINANCIAL POSITION)... 1 STATEMENT OF COMPREHENSIVE INCOME... 2 STATEMENT

More information

SAGICOR FINANCIAL CORPORATION

SAGICOR FINANCIAL CORPORATION Interim Financial Statements Nine-months ended September 30, 2015 FINANCIAL RESULTS FOR THE CHAIRMAN S REVIEW The Sagicor Group recorded net income from continuing operations of US $60.4 million for the

More information

SpareBank 1 Boligkreditt AS

SpareBank 1 Boligkreditt AS SpareBank 1 Boligkreditt AS 3rd quarter 28 Stavanger 22 October 28 SPAREBANK 1 BOLIGKREDITT AS 28 As of 3 September 28 Accounts 3q 28 Income statement 3.9.28 3.9.27 27 NOK 1 Interest income 1 331 498 225

More information

Interim Report For the period January September 2009

Interim Report For the period January September 2009 Interim Report For the period January September 2009 October 26, 2009 The report period in brief Consolidated net operating profit increased by 89 per cent to 30.9 million euros (January September 2008:

More information

Interim Report Q1 2015. 29 April 2015

Interim Report Q1 2015. 29 April 2015 Interim Report Q1 2015 29 April 2015 CONTENTS MANAGEMENT S REPORT Highlights - ratios and key figures... 3 Financial Review... 4 - Q1 2015 highlights... 4 - Income statement... 4 - Balance sheet... 5 -

More information

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q È QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended

More information

ARM Holdings plc Consolidated balance sheet - IFRS

ARM Holdings plc Consolidated balance sheet - IFRS ARM Holdings plc Consolidated balance sheet - IFRS 30 June 31 December 2010 2009 Unaudited Audited 000 000 Assets Current assets: Financial assets: Cash and cash equivalents 53,746 34,489 Short-term investments

More information

Interim Report 2016-06

Interim Report 2016-06 Interim Report 2016-06 Ikano Bank AB (publ) Interim Report, 30 June 2016 Results for the first half-year 2016 (comparative figures are as of 30 June unless otherwise stated. The merger with the fellow

More information

Interim Report Second Quarter 2005

Interim Report Second Quarter 2005 Copenhagen, Helsinki, Oslo, Stockholm, 24 August 2005 Interim Report Second Quarter 2005 Strong results in first half of 2005 Operating profit EUR 1,572m (EUR 1,481m in first half of 2004), up 33% excluding

More information

For personal use only

For personal use only SUNCORP-METWAY LIMITED CONSOLIDATED INTERIM FINANCIAL REPORT SUNCORP-METWAY LIMITED AND SUBSIDIARIES ABN 66 010 831 722 Consolidated interim financial report for the half-year ended 31 December 2015 Contents

More information

CONTENTS REPORT OF THE BOARD OF DIRECTORS 3

CONTENTS REPORT OF THE BOARD OF DIRECTORS 3 CONTENTS REPORT OF THE BOARD OF DIRECTORS 3 INTERIM FINANCIAL STATEMENT INCOME STATEMENT 5 ASSETS 6 LIABILITIES & EQUITY 6 STATEMENT OF CHANGES IN EQUITY 7 CASH FLOW STATEMENT 8 NOTES 1. ACCOUNTING PRINCIPLES

More information

NN Group N.V. 30 June 2015 Condensed consolidated interim financial information

NN Group N.V. 30 June 2015 Condensed consolidated interim financial information Interim financial information 5 August NN Group N.V. Condensed consolidated interim financial information Condensed consolidated interim financial information contents Condensed consolidated interim

More information

FöreningsSparbanken Preliminary year-end report for 2005 February 15, 2006

FöreningsSparbanken Preliminary year-end report for 2005 February 15, 2006 FöreningsSparbanken Preliminary year-end report for February 15, 2006 Fourth quarter : Operating profit rose by 12 percent or SEK 357 M to SEK 3,279 M (2,922) Profit for the period rose by 25 percent to

More information

Annual report and consolidated financial statements for 2012 for FOREX BANK AB

Annual report and consolidated financial statements for 2012 for FOREX BANK AB Annual report and consolidated financial statements for 2012 for FOREX BANK AB Org.nr 516406-0104 FOREX Annual report 2012 1 2 FOREX Bank Annual report 2012 CONTENTS Contents 3 Statutory administration

More information

Moscow-Minsk Foreign Bank (unitary enterprise) Financial Statements Together With Independent Auditors Report For The Year Ended December 31, 2004

Moscow-Minsk Foreign Bank (unitary enterprise) Financial Statements Together With Independent Auditors Report For The Year Ended December 31, 2004 Moscow-Minsk Foreign Bank (unitary enterprise) Financial Statements Together With Independent Auditors Report For The Year Ended December 31, 2004 Financial statements for the year ended 31 December 2004

More information

FOREX Bank AB. FOREX Annual Report 2011

FOREX Bank AB. FOREX Annual Report 2011 FOREX Bank AB Annual Report 2011 FOREX Annual Report 2011 1 2 FOREX Bank Annual Report 2011 Contents Contents 3 Statutory administration report 4 Consolidated income statement 10 Consolidated statement

More information

Q1 2016. Interim Management Statement

Q1 2016. Interim Management Statement Q1 Interim Management Statement HIGHLIGHTS FOR THE THREE MONTHS ENDED 31 MARCH Robust financial performance with stable underlying profit and strong underlying returns Underlying profit of 2.1 billion

More information

Announcement of Financial Results 1999. for. Den Danske Bank Group

Announcement of Financial Results 1999. for. Den Danske Bank Group Announcement of Financial Results 1999 for Den Danske Bank Group 2 Den Danske Bank Group Highlights Core earnings and net profit for the year (DKr million) 1999 1998 1997 1996 1995 Net interest income,

More information

Notes to the unaudited interim financial report

Notes to the unaudited interim financial report Notes to the unaudited interim financial report 1. Activities and corporate affiliation The Bank, through its branches and subsidiaries, provides a range of banking, financial and related services. The

More information

Swedbank Mortgage Annual Report 2013

Swedbank Mortgage Annual Report 2013 Swedbank Mortgage Annual Report 2013 Contents 3 About Swedbank Mortgage 5 Key financial highlights 2009-2013 6 Five-year summary 7 Income statement, Statement of comprehensive income 8 Balance sheet 9

More information

FOURTH QUARTER 2015. Financials. Safe Zephyrus is scheduled to commence a contract in Norway early Q3 2016.

FOURTH QUARTER 2015. Financials. Safe Zephyrus is scheduled to commence a contract in Norway early Q3 2016. FOURTH QUARTER 2015 Financials (Figures in brackets refer to the corresponding period of 2014) Full year 2015 Operating profit for 2015 amounted to USD 167 million (USD 248.3 million) and utilisation of

More information

Financial Data Supplement 4Q2011

Financial Data Supplement 4Q2011 Deutsche Bank Financial Data Supplement 4Q2011 20 March 2012 4Q2011 Financial Data Supplement Deutsche Bank consolidated Financial summary 2 Consolidated Statement of Income 3 Net revenues 4 Net interest

More information

IBM Finans Norge AS. Condensed Interim Financial Statements. 31 March 2015

IBM Finans Norge AS. Condensed Interim Financial Statements. 31 March 2015 Condensed Interim Financial Statements Condensed Interim Financial Statements For the Quarter Ended Contents Page Condensed Interim Statement of Comprehensive Income 2 Condensed Interim Statement of Financial

More information

Pillar 3 Disclosures. (OCBC Group As at 31 December 2014)

Pillar 3 Disclosures. (OCBC Group As at 31 December 2014) 1. INTRODUCTION The purpose of this document is to provide the information in accordance with Pillar 3 directives under Monetary Authority of Singapore ( MAS ) Notice 637 on Risk Based Capital Adequacy

More information

Morgan Stanley Reports First Quarter 2016:

Morgan Stanley Reports First Quarter 2016: Media Relations: Michele Davis 212-761-9621 Investor Relations: Kathleen McCabe 212-761-4469 Morgan Stanley Reports First Quarter 2016: Net Revenues of $7.8 Billion and Earnings per Diluted Share of $0.55

More information

NN GROUP FINANCIAL SUPPLEMENT 1Q2016

NN GROUP FINANCIAL SUPPLEMENT 1Q2016 NN GROUP FINANCIAL SUPPLEMENT 1Q2016 NN GROUP FINANCIAL SUPPLEMENT 1Q2016 INTRODUCTION The Financial Supplement includes quarterly financial trend data and is published on a quarterly basis. Figures are

More information

First quarter 2012. Positive volume and spread development during the past 12 months. Negative mark-to-market adjustment of basis swaps

First quarter 2012. Positive volume and spread development during the past 12 months. Negative mark-to-market adjustment of basis swaps 1 First quarter 2012 Positive volume and spread development during the past 12 months Negative mark-to-market adjustment of basis swaps Improved results in the Baltics Strengthened deposit-to-loan ratio

More information

Fourth Quarter and Full Year Results 2013

Fourth Quarter and Full Year Results 2013 Copenhagen, Helsinki, Oslo, Stockholm, 29 January 2014 Fourth Quarter and Full Year Results 2013 CEO Christian Clausen s comments on the results: 2013 was another year of low growth and interest rates

More information

Roche Capital Market Ltd Financial Statements 2012

Roche Capital Market Ltd Financial Statements 2012 R Roche Capital Market Ltd Financial Statements 2012 1 Roche Capital Market Ltd - Financial Statements 2012 Roche Capital Market Ltd, Financial Statements Reference numbers indicate corresponding Notes

More information

Pohjola Bank plc Report by the Board of Directors and Financial Statements 2014

Pohjola Bank plc Report by the Board of Directors and Financial Statements 2014 Pohjola Bank plc Report by the Board of Directors and Financial Statements 2014 List of contents Report by the Board of Directors for 2014... 1 Operating Environment Consolidated Earnings Analysis Risk

More information

Interim report ICA AB. January 1 June 30, 2009

Interim report ICA AB. January 1 June 30, 2009 Interim report ICA AB January 1 June 30, 2009 Interim report Stockholm, Sweden, August 19, 2009 Increased sales and improved operating income excluding capital gains and impairments Second quarter Net

More information

SAMPO GROUP RESULTS FOR 2015. Contents

SAMPO GROUP RESULTS FOR 2015. Contents 10 FEBRUARY 2016 Contents 3 Summary 5 Fourth quarter in brief 6 Business areas 6 P&C insurance 9 Associated company Nordea Bank AB 11 Life insurance 13 Holding 14 Other developments 14 Personnel 14 Remuneration

More information

KLP BOLIGKREDITT AS Interim report Q4 2015

KLP BOLIGKREDITT AS Interim report Q4 2015 KLP BOLIGKREDITT AS Interim report Q4 2015 INCOME STATEMENT BALANCE SHEET NOTES Contents KLP Boligkreditt AS Report from the Board of directors 3 Income statement 4 Balance sheet 5 Statement of changes

More information

Total Assets. Goodwill & Intangible Assets. 2005 Financial Impact. Impact. Description. 2005 Financial Impact. Impact. Description

Total Assets. Goodwill & Intangible Assets. 2005 Financial Impact. Impact. Description. 2005 Financial Impact. Impact. Description Total Assets Total impact $4,572m Assets increase to $297,757m Goodwill & Intangible Assets Goodwill & Intangible Assets AASB 138, AASB 3 $541m The changes to goodwill and intangible assets reflect The

More information