Annual Report 2020
178th year ANNUAL REPORT 2020 CONTENTS Key Figures...................................................................... page 2 Board of Directors’ Report………………………………..………... pages 3-36 Corporate Governance………………………….. pages 37-51 Statement pursuant to section 5-5 of the Securities Trading page 52 Act.... Income Statement…………………………………………. page 53 Balance Sheet…………………………………………................ page 54 Changes in Equity...................................................... page 55 Cash Flow Statement………………………………….. page 56 Notes to the Financial Statements………….……................................ pages 57-131 Auditor’s Report……………………………………….. pages 132-135 Definition of key figures and alternative profit targets..……… page 136 Side 2 Key figures – Group 2020 2019 2018 2017 2016 Profitability 1 Return on equity* 11,47 8,74 10,81 10,59 11,23 2 Net interest income as a percentage of average total assets 1,46 1,51 1,45 1,58 1,54 3 Profit after tax as a percentage of average total assets 1,05 0,77 0,96 0,94 0,94 4 Costs as a percentage of average total assets 0,68 0,65 0,74 0,76 0,80 5 Costs as a percentage of income (before losses on loans/guarantees)* 35,04 38,50 38,16 37,91 39,57 6 Costs as a percentage of income, exclusive of return on financial invest 42,50 39,57 45,29 40,50 46,18 Balance sheet figures 7 Net lending to customers 35.443,8 34.225,3 35.147,4 30.972,4 29.695,7 8 Lending growth (12 months) 3,56 -2,62 13,48 4,30 6,15 9 Deposits 14.845,1 14.791,7 14.899,7 13.971,8 13.887,4 10 Deposit growth (12 months) 0,36 -0,73 6,64 0,61 5,53 11
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