DOCSLIB.ORG

Regnskapsrapport 4. Kvartal

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Regnskapsrapport 4. Kvartal Sparebanken Møre - the Group Presentation preliminary figures 4th. quarter 2014 Agenda Summary Introduction Deposits and Loans Funding and Hedging Results Equity and ECs Future prospects Macroeconomic overview 2 100 150 200 250 300 350 400 450 500 550 600 650 700 Historical performance Summary 10 12 14 16 18 20 22 24 26 50 0 2 4 6 8 0 1992 0,2 1992 1 1993 20,2 1993 65 1994 16,5 1994 78 1995 17,7 1995 114 1996 14,9 1996 120 1997 15,0 1997 136 Results ROE ROE per in cent 1998 17,1 1998 173 1999 16,4 1999 205 2000 19,2 2000 265 2001 17,3 2001 272 in NOK 2002 10,1 2002 172 2003 10,2 2003 180 2004 11,5 2004 217 2005 14,0 2005 264 2006 13,4 2006 272 2007 15,6 2007 333 2008 12,8 2008 338 2009 335 2009 14,1 384 13,4 74 2010 458 2010 16,0 2011 379 – 2011 12,2 364 166 12,6 2012 530 2012 16,3 in NOK and ROE 2013 450 2013 11,6 94 12.3 402 2014 14,0 2014 623 2012 One and off effects also results on in 2010 Q3result from in the the included Group'seffect ordinary is finally was July 9 closed transaction in Nets TheHolding. their stakes sell banks that to in Q1a signed 2014contract Sparebanken 1 Capital TierCore market strong in the deposits still competition margins in the funding Lower but market end assets Total loans in default Low Strong ofincome interest Maintained net high level in a county strong Norwegian economy a strong environment, operating Favourable level of loan ofloan level cost - efficiency about about Møre – gross effect effect gross NOK million 94 losses and low volume of and losses volume low NOK 12.0 was 186of the was one 56,3 % by by % billion by billion year year end th , , and year year 3 Summary High and stable return – based on our business model Reported ROE – historical development 35 Less volatile key figures for Sparebanken Møre Sparebanken Møre 30 Sparebanken Vest compared with peers Sparebank 1 SMN 25 Sparebank 1 SR Consequences of policy decisions 20 Sparebank 1 Nord Norge Contract banking and a clean 15 balance Core banking focusing on 10 traditional banking services 5 Also compared with peers; our results are achieved 0 with a high level of capital -5 4 Introduction to the bank and the market 5 Introduction Introduction to Sparebanken Møre Independent savings bank Head office in Ålesund 30 branches in Møre og Romsdal county NOK 56.3 billion in total assets, about 170 000 customers 261,530 383 man years inhabitants Established in 1843 Listed on the Oslo Stock Exchange since 1989 No. 1 bank in Møre og Romsdal 6 Introduction Full service bank in Møre og Romsdal Key business Corporate Retail Capital Adm/ areas Market Market Market support Fully Møre Boligkreditt AS Møre Eiendomsmegling AS owned The company has a license to operate as a Real estate brokerage towards retail and companies mortgage company and issue covered bonds corporate customers Enthusiastic Local Solid "Local decision "High Core “Maintain values position as no. 1 making, competence, bank in Møre og independent, financially solid Romsdal" and present" and safe " 7 Introduction Sparebanken Møre – a brief overview Sparebanken Møre is the 7th largest Norwegian bank – the bank serves customers from the county of Møre og Romsdal The population of Møre og Romsdal is just above 260 000, and the population in the municipalities where the bank is located is 200 000 The bank serves about 170 000 customers, whereof 160 500 customers in the retail market 9 500 customers in the corporate market The activity is based on traditional banking services Loans to the retail market: 65.7 % Deposits from the retail market: 60.0 % Sparebanken Møre is a fully fledged foreign exchange bank Sparebanken Møre is rated A3 (negative) by Moody`s Møre Boligkreditt AS`(100 % owned covered bonds company) issues are rated Aaa by Moody`s 8 Introduction Sparebanken Møre's market area Møre og Romsdal county 261,530 inhabitants The 3rd largest GDP per employee among 19 counties in Norway Norway's 3rd largest export county Diversified business structure Sparebanken Møre with 30% market share Diversified business structure in the region Selected companies in Møre og Romsdal Fisheries/seafood Aluminum Marine construction Tourism Agricultural Furniture Offshore services Oil & gas 9 Introduction Møre og Romsdal – Diversified industries Norwegian maritime areas are rich in natural resources, and play a very important role in commercial activities in Møre og Romsdal Oil and The petroleum sector has been responsible for 1/4 of the total investments in offshore Norway Nyhamna in Møre og Romsdal receives gas from The Ormen Lange Oilfield, and delivers from there through another pipeline to Easington UK A large part of Norway’s strength in the field of advanced marine operations is concentrated within an hours drive from the town of Ålesund. The region is home to 14 shipyards, and is one of very few complete maritime Maritime clusters in the world. industry Over 75 % of the worlds large, hi-tech offshore vessels are designed here 40% of the world’s most advanced offshore fleet is controlled by 19 ship owning companies in the region The fishing industry is the second largest export sector in Norway after oil and gas. The value of Norwegian seafood exports totals record high NOK 69 billion in Fisheries 2014 – up 12% from 2013 and Møre og Romsdal is by far the largest food exporting Norwegian county, responsible for 1/3 of the nations total food export seafood In addition to fish and fish products the food production and exports also include agricultural products (fruit and berries) and other foodstuff industry (pizza, cured ham, salami, etc) Trollstigen Mountain Road is one of Norway's most dramatic and most visited attractions Tourism The UNESCO-protected Geirangerfjord was visited by more than 220 cruise vessels in 2014 The city of Ålesund is known for its architecture in Art Nouveau style, its surrounding fjords and the high peaks of the Sunnmøre Alps 10 Introduction Summary Sparebanken Møre •Seventh largest savings bank in Norway, solid financial performance with total assets Møre og Romsdal of NOK 56.3 billion •Population of just above •Market leader in main market, 260,000 the county of Møre og •Dominant industrial and Romsdal Norway commercial sectors are •66% of lending to retail customers, of which more than •The Norwegian mainland fisheries, tourism, maritime- 95 % are mortgages economy has grown since late and oil industry 2009 •Responsible for •Strong capitalization reflected by Core Capital of 14.4% and •Large government budget approximately 1/3 of Core Tier 1 of 12.0% surplus, record high petroleum Norway’s total export of investments and strong food, mainly fish and fishery •The Bank is rated A3 household sector products (negative outlook) by Moody’s •Ability and willingness to move •Low unemployment, 2.1%, monetary and financial policy in well below national average more expansive direction if of 2.6% needed •Below average national real •Well managed petroleum estate prices and above wealth, value of government average disposable income pension fund of more than NOK levels 6 500 billion •Good labour market performance with low unemployment and high participation 11 Deposits and loans Deposits and loans Moderate growth NOK mill. Growth during the last 12 56305 54627 months 55000 51632 48468 48884 50000 46241 44441 • Total assets 3.1 % 45000 43434 40305 40000 37676 • Loans (net) 5.7 % 35000 28868 28389 • Deposits 1.1 % 30000 27081 24551 25325 25000 20000 15000 10000 5000 0 Deposits Loans Total assets 13 Deposits and loans Breakdown of gross lending NOK mill. 49,191 Annual net lending growth 50000 46,547 43,740 2010: 5.1 % 45000 40,701 2011: 7.0 % 40000 38,083 2012: 7.8 % 35000 32.245 30.454 2013: 6.2 % 30000 27.650 25.296 23.647 25000 2014: 5.7 % 20000 15000 Lending growth last 12 months 10000 Gross, retail banking 5.9 % 16.776 14.424 15.395 16.070 15.947 5000 Gross, corporate 5.2 % 0 Gross, public sector - Public sector Retail banking Corporate banking 14 Deposits and loans Loans by sector Other 10,1 % CRE 11,5 % Service 2,7 % Offshore Supply 3,3 % Retail 65,7 % Fisheries 6,7 % Other 10.1% Financial Other industry 1.6 1.6 Agriculture 0.9 services Building/construction 1.2 Fishing Industry 0.6 Furniture 0.1 Retail/wholesale trade 1.1 Ship Yards 2.2 Other 0.8 15 Deposits and loans Breakdown of deposits NOK mill. 30000 28,068 28,389 Annual deposit growth 27,081 853 697 2010: 12.7 % 25,325 705 24,551 25000 693 2011: 3.2 % 1.531 2012: 6.9 % 20000 2013: 3.6 % 15.221 15.999 17.024 14.307 13.274 15000 2014: 1.1 % 10000 Deposit growth last 12 months 11.155 11.207 5000 9.746 10.325 10.660 Retail banking 6.4 % Corporate banking -4.9 % 0 Public sector -18.3 % Corporate banking Retail banking Public sector 16 Funding and hedging Funding and hedging Good access to the market Margins Since the beginning of 2012 we have mainly seen funding margins been reduced. By the end of 2014 margins in the long-term bond market are at the lowest we have seen since January 2008 Covered Bonds issued by Møre Boligkreditt AS has replaced senior bonds as the Group`s main source of long-term market financing and now account for about 76 % of long term market loans The refinancing of existing loans and financing of new growth will adapt regulatory requirements as LCR and L1 (including our targets related to transfer of mortgages to Møre Boligkreditt AS), and bail-in rules Sparebanken Møre will therefore inter alia maintain a level of bail in able capital at least at the level we had at the end of 2013 Sparebanken Møre is rated A3 (negative) and Covered Bonds issued by Møre Boligkreditt AS are rated Aaa by Moody's.
Load more

Recommended publications
  • EMTN Prospectus 2018
    PROSPECTUS 15 June 2018 SPAREBANK 1 SMN (incorporated with limited liability in Norway) SPAREBANK 1 NORD-NORGE (incorporated with limited liability in Norway) SPAREBANK 1 ØSTLANDET (incorporated with limited liability in Norway) €10,000,000,000 Euro Medium Term Note Programme (the “Programme”) This Prospectus (as defined below) supersedes the Prospectus dated 9 June 2017 relating to the €10,000,000,000 Euro Medium Term Note Programme of SpareBank 1 SMN, SpareBank 1 Nord-Norge and SpareBank 1 Østlandet (formerly Sparebanken Hedmark) (each an “Issuer” and together the “Issuers”). This Prospectus does not affect any Notes already issued. This document constitutes three base prospectuses for the purposes of Article 5.4 of Directive 2003/71/EC (the “Prospectus Directive”) as amended, (i) the base prospectus for SpareBank 1 SMN, in respect of non- equity securities within the meaning of Article 22 No. 6(4) of the Commission Regulation (EC) No. 809/2004 of 29 April 2004 as amended (the “Notes”) to be issued by SpareBank 1 SMN under the Programme, (ii) the base prospectus for SpareBank 1 Nord-Norge in respect of Notes to be issued by SpareBank 1 Nord-Norge under the Programme, and (iii) the base prospectus for SpareBank 1 Østlandet in respect of the Notes to be issued by SpareBank 1 Østlandet under the Programme (together, the “Prospectus”). Under the Programme each Issuer may from time to time issue Notes denominated in any currency agreed between the relevant Issuer and the relevant Dealer (as defined below). The Notes of each Issuer will be obligations of that Issuer alone.
    [Show full text]
  • Annual Report 2020 2 SPAREBANK 1NORD-NORGE Table of Contents
    Annual Report 2020 2 SPAREBANK 1 NORD-NORGE 1 SPAREBANK Table of contents SPAREBANK 1 NORD-NORGE 04 From the CEO 08 Strategic compass 10 Our history 12 Timeline 14 Important events 16 Branches 20 Organisation chart 22 Company structure 23 Annual report 24 Group profit analysis 27 Annual report of the Board 28 ANNUAL ACCOUNTS 2020 60 Income statement 62 Balance sheet 63 Changes in equity 64 Cash flow statement 66 Notes 67 Statement by the Bord og Directors and the Group CEO 160 Alternative performance measures 161 Auditor’s report 164 3 Table of contents NORD-NORGE 1 SPAREBANK OPERATIONS 170 Group Management 172 Board of Directors 174 Governing bodies 176 Corporate governance 180 Risk management and internal control 198 Ownership 204 Operations 210 SpareBank1 Nord-Norge Capital markets 218 The SpareBank 1-alliansen 221 The foundations 224 Organisation and HR 226 CORPORATE SOCIAL RESPONSIBILITIY 234 Sustainability in SpareBank 1 Nord-Norge 236 Climate risk (TCFD) 241 Annex 1: Global reporting initiative (GRI) index 256 Annex 2: Carbon exposure in the credit portfolio 262 Annex 3: Stakeholder analysis 2020 264 Annex 4: ‘Samfunnsløftet’s’ contribution to the UN sustainability goals 266 Samfunnsløftet across all Northern Norway 268 4 SPAREBANK 1 NORD-NORGE 1 SPAREBANK Sparebank 1 Nord-Norge SpareBank 1 Nord-Norge is the leading finance house in Northern Norway. The group is part of SpareBank 1-alliansen, an alliance of 14 independent savings banks across the entire country. 5 SPAREBANK 1 NORD-NORGE 1 SPAREBANK Photo: Marius Fiskum DIGITALISATION 2020 was the year that video meetings – up to then meeting between people remains at centre-stage.
    [Show full text]
  • Enter Title Here
    Banks EMEA Norway The Major Sparebanken of the SpareBank 1 Alliance The Sparebanken Benefit from a Supportive Operating Environment Special Report │ 13 January 2020 fitchratings.com 1 Banks EMEA Norway The Major Sparebanken of the SpareBank 1 Alliance The Sparebanken Benefit from a Supportive Operating Environment SpareBank 1 Alliance Regional Market Shares Strong Franchises, Regional Concentrations The ratings for SpareBank 1 SR-Bank (SR-Bank; A-/Stable), SpareBank 1 SMN (SMN; A-/Stable) and SpareBank 1 Nord-Norge 37% (SNN; A/Stable), which are members of the Sparebank 1 Alliance 35% (collectively: the Sparebanken), reflect their stable and low-risk business models, healthy profitability, resilient asset quality and sound capital ratios. The ratings also factor in risks arising from volatility in oil prices, high property prices, geographically 22% concentrated lending and liquidity management in the context of the banks’ wholesale funding reliance. SNN’s ratings are one notch higher than its Sparebanken peers’, 30% reflecting better asset-quality metrics, limited oil exposure and a more retail-oriented business model. 23% 39% 27% 3% Supportive Operating Environment 18% 8% Oslo: The Sparebanken’s performances are closely linked to that of the 9% 12% 24% 12% 31% 16% Norwegian economy and their respective regions, given their 9% regional focus. Fitch Ratings expects the Norwegian banking sector to continue to benefit from the country’s favourable economic Shading reflects strength of market share in the region. environment. However, the Sparebanken remain dependent on oil- Source: Fitch Ratings, SpareBank 1 Group Research related industries, although to varying degrees. A major part of impaired loans at end-September 2019 was related to this industry.
    [Show full text]
  • Supplementary Information 2020 Q1 Contact Information
    Investor Relations Supplementary Information 2020 Q1 Contact information CEO Jan-Frode Janson For further information, please contact CFO Kjell Fordal [email protected] +47 905 41 672 Address SpareBank1 SMN Postboks 4796 Sluppen, 7467 Trondheim Switchboard +47 915 07 300 Visiting address Søndre gate 4, 7011 Trondheim Information on the internet SpareBank1 SMN's homepage www.smn.no ECC information in general www. egenkapitalbevis.no Financial Calendar 2020 1st quarter 08 May 2020 2nd quarter 11 August 2020 3rd quarter 30 October 2020 Major changes from Q1 2020 Corona crisis and oil prise fall The crisis has trigged a broad-based international economic crisis accompanied by increased unenployment and a dramatic fall in demand despite highly expansionary monetary policies in the majority of countries. After the national lockdown, imposed on March 12th, the Norwegian economy has also been hard hit, even though Norway has a more robust economy than most countries. Oil prices has fallen heavily. SpareBank 1 SMN has low exposure to sectors that are directly affected by the oil price. The Norwegian krone har depreciated markedly in the first quater. Norges Bank (Norway's central bank) has lowered its key policy rate to 0.25 per cent since March 12th. A number of industries have experienced a wave of layoffs, and at 21th of April 15 per cent of the labour force were registered as jobseekers and 10 per cent were registered as totally unemployed. In response to the crisis in the Norwegian government has initiated a raft of measures to assist businesses and private individuals. SpareBank 1 SMN is the region's leading finance house and shoulders its responsibility in a highly demanding situation.
    [Show full text]
  • Sparebank 1 SR-Bank, Sparebank 1 SMN, Sparebank 1 Østlandet, Sparebank 1
    FINANCIAL INSTITUTIONS ISSUER IN-DEPTH SpareBank 1 SR-Bank, SpareBank 1 SMN, 12 March 2018 SpareBank 1 Østlandet, SpareBank 1 N-N SpareBank 1 Alliance Banks' 2017 profit up as economy strengthens RATINGS SpareBank 1 SR-Bank ASA In February 2018, the four biggest lenders in Norway's SpareBank 1 Alliance (SpareBank 1 LT Senior Unsecured A1 negative SR-Bank, SpareBank 1 SMN, SpareBank 1 Østlandet and SpareBank 1 Nord-Norge) reported LT Deposits A1 negative Baseline Credit Assessment baa1 stronger 2017 net profit thanks to a combination of increased lending, lower funding costs, CR Assessmen (LT/ST) Aa3(cr) / P-1(cr) reduced loan losses, and higher earnings contributions from subsidiaries. The improvement came as Norway's economy expanded, helped by fiscal and monetary stimulus, after weak oil SpareBank 1 SMN prices triggered a slowdown in 2015-16. We expect GDP growth of 2.2% in 2018 and 2.0% in LT Senior Unsecured A1 negative 2019, up from 1.7% in 2017, further supporting the banks' performance. The four banks' high LT Deposits A1 negative Common Equity Tier 1 (CET1) ratios confirm our view that their loan loss absorption capacity Baseline Credit Assessment baa1 CR Assessmen (LT/ST) Aa3(cr) / P-1(cr) is robust. Although the banks remain reliant on confidence-sensitive market funds, sizeable liquidity buffers help offset this risk. SpareBank 1 Ostlandet Oil-exposed banks' asset quality improves. For SpareBank 1 SR-Bank and SpareBank 1 LT Senior Unsecured A1 negative SMN, the increase in profit partly reflected a decline in problem loans to 1.13% and 0.99% of LT Deposits A1 negative Baseline Credit Assessment baa1 gross loans respectively, from 1.21% and 1.23% in 2016.
    [Show full text]
  • Sparebank 1 Alliance the Sparebank 1 Alliance Consists of 14 Independent Savings Banks, Who Cooperate on Branding and Providing a Joint Platform
    SpareBank 1 Alliance The SpareBank 1 alliance consists of 14 independent savings banks, who cooperate on branding and providing a joint platform. SpareBank 1 is Norway’s second largest finance group in terms of assets. The alliance was created in 1996 to strengthen each local bank’s competitiveness, profitability and solvency, as well as to ensure each bank’s future independence and regional ties. These banks are in the SpareBank 1 alliance • SpareBank 1 BV • SpareBank 1 Gudbrandsdal • SpareBank 1 Hallingdal Valdres • SpareBank 1 Lom og Skjåk • SpareBank 1 Modum • SpareBank 1 Nord-Norge • SpareBank 1 Nordvest • SpareBank 1 Ringerike Hadeland • SpareBank 1 SMN • SpareBank 1 SR-Bank • SpareBank 1 Søre Sunnmøre • SpareBank 1 Telemark • SpareBank 1 Østfold Akershus • SpareBank 1 Østlandet These companies are also affiliated with the alliance and owned by several of SpareBank 1 banks: SpareBank 1 Betaling AS, SpareBank 1 Boligkreditt AS, SpareBank 1 Kredittkort AS, SpareBank 1 Markets AS, SpareBank 1 Næringskreditt AS, BN Bank ASA Additionally, the Norwegian Confederation of Trade Unions (LO) is a strategic partner of the SpareBank 1 alliance and a co-owner of SpareBank 1 Gruppen AS. How the alliance is organized The alliance is organized through the jointly owned companies SpareBank 1 Gruppen AS and SpareBank 1 Banksamarbeidet DA with their subsidiaries. In addition, a number of other companies are directly owned by SpareBank 1 banks. SpareBank 1 Gruppen AS SpareBank 1 Gruppen AS is the parent company of 8 subsidiary companies, which all develop and supply products to banks in the alliance, which in turns offer these to customers in their local markets.
    [Show full text]
  • DNB, SB1 SR-Bank, SB1 SMN, SB1 Nord- Norge, Sparebanken Vest & Sparebanken More
    FINANCIAL INSTITUTIONS ISSUER IN-DEPTH DNB, SB1 SR-Bank, SB1 SMN, SB1 Nord- 19 October 2020 Norge, Sparebanken Vest & Sparebanken More Norway’s oil-exposed lenders are insulated against weak oil prices Contacts We expect the six Moody’s-rated Norwegian banks with exposure to the oil sector to Nondas Nicolaides +357.2569.3006 preserve their current strong capitalisation and creditworthiness, despite an increase in their VP-Sr Credit Officer [email protected] problem loans due to a steep coronavirus-induced drop in oil prices. The lenders' oil exposure remains relatively limited, and their core profitability is solid, helped by continued good Niclas Boheman +46.8.5179.6561 VP-Senior Analyst income generation from their dominant mortgage lending operations. While downside risks [email protected] remain, their strong capital buffers are also supportive of their solvency and ratings. Katarzyna +44.20.7772.1047 Oil price slump pushes up problem loans. The price of Brent crude oil fell by 78% Szymanska Associate Analyst between February and April 2020 as the coronavirus-related economic downturn led to a [email protected] sharp fall in global energy demand, although it later partly recovered. The decline triggered Simon James Robin +44 207 772 5347 loan repayment difficulties among some Norwegian oil sector borrowers, including owners of Ainsworth offshore service vessels. This was a key factor behind an increase in the six banks’ weighted Associate Managing Director average non-performing loan (NPL) ratio to around 1.9% in Q2 2020 from 1.4% a year [email protected] earlier. DNB Bank, one of the largest banks and the most exposed to the oil sector, suffered Sean Marion +44.20.7772.1056 the most significant asset quality deterioration.
    [Show full text]
  • SMN Vedtakter
    ARTICLES OF ASSOCIATION of SpareBank 1 SMN Business organisation no. 937 901 003 (into effect on 26.11.2020) CHAPTER 1 Name. Head office location. Object Article 1-1 The savings bank’s name is SpareBank 1 SMN. The savings bank shall have its registered head office in the municipality of Trondheim. The object of the savings bank is to carry on activity as a bank and moreover to pursue and participate in activities that the savings bank is entitled to engage in under licences held and legislation in force at any and all times. Chapter 2 Capital Equity capital Article 2-1 Ownerless capital The original ownerless capital of the amalgamated savings banks has either been repaid or does not need to be repaid. A complete overview is given in previous articles. Neither founders nor other parties are entitled to any return from the business beyond such dividends as may be earned on the bank’s issued owner capital. Article 2-2 Equity certificates The savings bank’s issued owner capital is NOK 2,596,728,860.- divided into 129,836,443 equity certificates of NOK 20 each, fully paid-up. The savings bank’s equity certificates shall be registered in the Norwegian Central Securities Depository. Owners of equity certificates are entitled to vote once the acquisition has been registered in the Norwegian Central Securities Depository. External capital Article 2-3 External capital By external capital is meant capital that is not equity capital as this is defined at any and all times in the Financial Institutions Act with associated regulations.
    [Show full text]
  • Årsrapport 2019 Sammen Skaper Vi Verdier
    ÅRSRAPPORT 2019 SAMMEN SKAPER VI VERDIER SAMMEN SKAPER VI VERDIER 2 TIL INNHOLDSFORTEGNELSE TIL INNHOLDSFORTEGNELSE 3 INNHOLD SpareBank 1 Nordvest SpareBank 1 Nordvest 2019 –ÅRET FØR 2020 5 HOVEDTALL KONSERN 10 BANKEN OG VIRKSOMHETEN 12 SAMFUNNSANSVAR 14 BÆREKRAFT I SPAREBANK 1 NORDVEST 19 ÅRSBERETNING 2019 22 RESULTATREGNSKAP 36 BALANSE 37 ENDRING I EGENKAPITAL 38 KONTANTSTRØMOPPSTILLING 40 NOTER 41 NOTE 1 GENERELL INFORMASJON 42 NOTE 2 REGNSKAPSPRINSIPPER 42 NOTE 3 KRITISKE ESTIMATER OG VURDERINGER VEDRØRENDE BRUK AV REGNSKAPSPRINSIPPER 47 NOTE 4 IFRS 16 LEIEAVTALER 48 NOTE 5 SEGMENTINFORMASJON 49 NOTE 6 KAPITALDEKNING 50 NOTE 7 FINANSIELL RISIKOSTYRING 52 NOTE 8 FORDRINGER PÅ OG GJELD TIL KREDITTINSTITUSJONER 54 NOTE 9 UTLÅN TIL OG FORDRINGER PÅ KUNDER 54 NOTE 10 OVERFØRING AV UTLÅN TIL KREDITTFORETAK 57 NOTE 11 ALDERSFORDELING PÅ FORFALTE, MEN IKKE NEDSKREVNE UTLÅN 58 NOTE 12 BALANSEFØRTE NEDSKRIVNINGER PÅ UTLÅN, BEVILGNINGER OG GARANTIER 60 NOTE 13 KREDITTEKSPONERING FOR HVER RISIKORATING 66 NOTE 14 MAKSIMAL KREDITTRISIKOEKSPONERING, IKKE HENSYNTATT PANTESTILLELSER 66 NOTE 15 KREDITTKVALITET PR. KLASSE AV FINANSIELLE EIENDELER 67 NOTE 16 MARKEDSRISIKO 68 NOTE 17 LIKVIDITETSRISIKO/GJENVÆRENDE KONTRAKTSMESSIG LØPETID PÅ FORPLIKTELSER 69 NOTE 18 FORFALLSANALYSE AV EIENDELER OG FORPLIKTELSER 71 NOTE 19 NETTO RENTEINNTEKTER 72 NOTE 20 NETTO PROVISJONS- OG ANDRE INNTEKTER 73 NOTE 21 INNTEKTER FRA ANDRE FINANSIELLE INVESTERINGER 73 NOTE 22 PERSONALKOSTNADER OG YTELSER TIL LEDENDE ANSATTE OG TILLITSVALGTE 74 NOTE 23 ANDRE DRIFTSKOSTNADER
    [Show full text]
  • Affiliates and Subsidiaries
    Annual report 2011 Affiliates and subsidiaries The SpareBank 1 Alliance The SpareBank 1 banks operate an alliance and develop product companies through the jointly owned holding company SpareBank 1 Gruppen. The paramount objective of the SpareBank 1 Alliance is to assure the individual bank’s independence and regional identity through strong competitiveness, profitability and financial soundness. The Alliance is among the largest providers of financial services in Norway and a fully-fledged alternative to traditional financial groups. SpareBank 1 Alliance’s vision The Alliance’s vision is for SpareBank 1 to be the recommended bank for private individuals and small and mid-sized businesses in Norway with a full product range. It wants customers to feel that we are the best in terms of our closeness, local identity and competence. Our key core values are closeness to the customer and capableness. About SpareBank 1 Gruppen SpareBank 1 Gruppen owns and develops companies that deliver financial services and products. It is owned by SpareBank 1 SR-Bank (19.5 per cent), SpareBank 1 Nord-Norge (19.5 per cent), SpareBank 1 SMN (19.5 per cent), Sparebanken Hedmark (12 per cent), Samarbeidende Sparebanker (19.5 per cent, comprising 11 savings banks in southeast and western Norway), and the Norwegian Confederation of Trade Unions and affiliated unions (10 per cent). SpareBank 1 Gruppen owns 100 per cent of the shares of SpareBank 1 Livsforsikring (life insurer), SpareBank 1 Skadeforsikring (non-life insurer, includes Unison Forsikring), ODIN Forvaltning (fund manager) and SpareBank 1 Gruppen Finans (which includes Conecto and Actor Fordringsforvaltning). In addition SpareBank 1 Gruppen owns 93.4 per cent of SpareBank 1 Markets and is a partner in SpareBank 1 Utvikling DA.
    [Show full text]
  • This Is Sparebank 1 SMN
    Annual report 2020 This is SpareBank 1 SMN From Trondhjems sparebank to the finance house SpareBank 1 SMN The year was 1823. There was much poverty and need in the country. 44 of Trondhjem’s most prominent men resolved to raise capital for a common fund – for the purpose of starting a savings bank for the town’s entire populace. The sum of 1,596 speciedaler was duly collected, and Trondhjem Sparebank was founded on 26 May 1823. It was not those bank’s 44 founders that took the reins of ownership. They wanted the community to own the bank. The objects clause reflected what they wished to achieve for their community: “…to encourage the common people to save so that the less fortunate might have something to engage in by starting a business, entering into marriage, in time of distress or in troublesome old age.” The bank’s first manager was Jacob Roll, later to become the town’s first mayor. Over the next hundred years savings banks were founded across the entire region. In the past 30 years many of these savings banks have been amalgamated with Trondhjems Sparebank, and now make up SpareBank 1 SMN. In 1996 the regional savings banks further bolstered their standing by establishing a joint, nationwide alliance. All the banks that now make up the national SpareBank 1-allianse benefit from their shared developmental power, while maintaining an undisputed local footing and independence. Thus starts the story of an enterprise that was to prove to be more than a bank – and its journey to what is today SpareBank 1 SMN.
    [Show full text]
  • The Major Sparebanken of the Sparebank 1 Alliance Special Report
    Banks Norway The Major Sparebanken of the SpareBank 1 Alliance Special Report Ratings Key Rating Drivers SpareBank 1 SR-Bank Foreign Currency Strong Franchises, Regional Concentrations: The ratings for SpareBank 1 SR-Bank (SR- Long-Term IDR A- Short-Term IDR F2 Bank), SpareBank 1 SMN (SMN) and SpareBank 1 Nord-Norge (SNN), collectively “the Viability Rating a- Sparebanken”, reflect their stable and low-risk business models, healthy profitability, resilient asset quality and sound capital ratios. The ratings also factor in risks arising from volatility in oil Support Rating 5 Support Rating Floor NF prices, high property prices, geographically concentrated lending and liquidity management in SpareBank 1 SMN the context of the banks’ wholesale funding reliance. Foreign Currency Long-Term IDR A- SNN’s ratings are one notch higher than its Sparebanken peers’, reflecting better asset-quality Short-Term IDR F2 metrics, limited oil exposure and a more retail-oriented business model. Viability Rating a- Support Rating 5 Support Rating Floor NF Benefits from Alliance Membership: The Sparebanken are the three largest savings banks in Norway’s SpareBank 1 Alliance (the Alliance). They benefit from cost efficiencies and income SpareBank 1 Nord-Norge Foreign Currency diversification via the jointly owned SpareBanken 1 Gruppen AS, whose services include life Long-Term IDR A and non-life insurance and fund management products. Short-Term IDR F1 Viability Rating a Resilient Asset Quality: We expect impaired loans to remain low, supported by a stable Support Rating 5 operating environment, low-risk business models focused on SME and retail customers and Support Rating Floor NF conservative underwriting standards.
    [Show full text]