Sparebank 1 Ostlandet · OSL:SPOL
Sparebank 1 Ostlandet — Sparebanken Hedmark — H1 2015 Earnings Presentation
35 slides from Sparebank 1 Ostlandet's earnings presentation, 2015
Slide 1: Sparebanken Hedmark
Sparebanken Hedmark Presentation of financial results First half year 2015
Slide 2: About Sparebanken Hedmark
About Sparebanken Hedmark Hedmark is the leading provider of financial products to people, companies and Sparebanken the public sector in Hedmark Hedmark NOK 8.1 billion in equity. NOK 54 billion in total assets. Norway’s largest self- NOK 69 billion in commercial volume (incl. loans to SpareBank 1
Slide 3: Highlights – First quarter 2015
Highlights – First quarter 2015 TAD lager ny, få den oversatt. Satisfactory return on equity of 12.5 per cent . Good result Good results from subsidiaries and partly owned companies . Good growth- 7.6 per cent and 3.7 per cent deposit growth. Net interest income incl. commission from loans transferr
Slide 4: Profit/loss (Group)
Profit/loss (Group) First half First half year 2015 year 2014 2014 Net interest income 536 499 1.043 Net commission income 228 238 446 Other income 109 113 217 Total operating expenses 509 481 981 Result bank operation before losses 364 369 725 Losses on loans and guarantees 40 33 66 Result bank ope
Slide 5: Profit/loss (Parent bank)
Profit/loss (Parent bank) First half First half year 2015 year 2014 2014 Net interest income 422 401 835 Net commission income 201 248 466 Other income 10 5 16 Total operating expenses 361 358 726 Result bank operation before losses 272 296 591 Losses on loans and guarantees 28 27 52 Result bank ope
Slide 6: Result before tax for Group and Parent Bank
Result before tax for Group and Parent Bank Result before tax - Group Result before tax – Parent bank 300 300 280 266 250 237 241 233 250 200 180 200 190 182 150 150 100 100 50 50 0 Q2-12 Q2-13 Q2-14 Q2-15 0 Q2-12 Q2-13 Q2-14 Q2-15
Slide 7: Income statement quarterly (Group)
Income statement quarterly (Group) Q2 2015 Q1 2015 Q4 2014 Q3 2014 Q2 2014 Q1 2014 Q4 2013 Q3 2013 Q2 2013 Net interest income 271 265 272 272 259 240 263 266 252 Net commission income 118 110 104 104 109 130 100 104 89 Other income 48 61 54 51 57 56 46 49 48 Total operating expenses 251 258 263 237
Slide 8: Specification of results (Group)
Specification of results (Group) First half First half (Nok million) year 2015 year 2014 2014 Parent Bank's profit after tax 465 297 676 Dividends received from subsidiaries and joint ventures -259 -134 -135 Profit /loss attributable to: SpareBank 1 Gruppen AS 72 85 202 Bank 1 Oslo Akershus AS 59 11
Slide 9: Financial results by quarter (Group)
Financial results by quarter (Group) Profit/loss before tax excl. profit from other financial assets and liabilitites Profit/loss before tax 300 283 268 457 500 240 228 250 400 200 294 300 269 233 150 200 100 100 50 0 0 Q3-14 Q4-14 Q1-15 Q2-15 Q3-14 Q4-14 Q1-15 Q2-15 Net result from other financial
Slide 10: Specification of the consolidated profit (Group)
Specification of the consolidated profit (Group) Change in profit before tax Q2-2015 vs Q2-2014 700 600 -14 67 -34 -28 37 -7 500 400 300 506 527 200 100 0 Profit before tax Change in net Change in net Change in net Change in result Change in Change in losses Profit before tax Q2 2014 interes income
Slide 11: Changes in net interest income quarter (Group)
Changes in net interest income quarter (Group) (incl. Commission from covered bond companies) From Q1-2015 to Q2-2015 400,0 350,0 2,0 1,9 -0,6 23,4 -29,5 8,9 -0,3 -5,7 300,0 250,0 200,0 150,0 316,7 316,8 100,0 50,0 0,0 Net interest income Lending volume Deposits margin Interest on equity Cost fundin
Slide 12: Changes in net interest income year (Group)
Changes in net interest income year (Group) (incl. Commission from covered bond companies) From Q2-2014 to Q2-2015 800,0 0,6 3,9 700,0 43,7 -56,5 58,1 -5,1 0,4 -25,3 600,0 500,0 400,0 300,0 622,2 633,4 200,0 100,0 0,0 Net interest Lending volume Deposits margin Guarantee fund Deposits volume Lending
Slide 13: Changes in net interest income quarter (Group)
Changes in net interest income quarter(Group) (excl. Commission from covered bond companies) From Q1-2015 to Q2-2015 350,0 300,0 2,0 1,9 -0,6 23,4 -29,5 8,9 -0,3 250,0 200,0 150,0 265,0 270,8 100,0 50,0 0,0 Net interest Lending volume Deposits margin Interest on equity Cost funding and Deposits volu
Slide 14: Changes in net interest income year (Group)
Changes in net interest income year (Group) (excl. Commission from covered bond companies) From Q2-2014 to Q2-2015 700,0 600,0 0,6 -3,9 43,7 -56,5 58,1 -5,1 -0,4 500,0 400,0 300,0 535,9 499,4 200,0 100,0 0,0 Net interest income Lending volume Deposits margin Guarantee fund levy Deposits volume Lendi
Slide 15: Changes in net commission and other income quarter (Group)
Changes in net commission and other income quarter (Group) (incl. Commission from covered bond companies) From Q1-2015 to Q2-2015 200,0 180,0 4,8 -6,0 2,5 1,4 -0,9 1,7 -8,5 160,0 140,0 120,0 100,0 171,0 166,0 80,0 60,0 40,0 20,0 0,0 Net commission and Commission from Payment Insurance service Real e
Slide 16: Changes in net commission and other income year (Group)
Changes in net commission and other income year (Group) (incl. Commission from covered bond companies) From Q2-2014 to Q2-2015 450,0 400,0 20,0 -25,0 20,1 -8,5 350,0 4,4 3,8 -27,3 300,0 250,0 200,0 350,0 337,5 150,0 100,0 50,0 0,0 Net commission and Insurance service Real estate brokerage Income fro
Slide 17: Changes in net commission and other income quarter (Group)
Changes in net commission and other income quarter (Group) (excl. Commission from covered bond companies) From Q1-2015 to Q2-2015 200,0 180,0 4,8 -0,9 2,5 1,4 -14,5 1,7 160,0 140,0 120,0 100,0 171,0 166,0 80,0 60,0 40,0 20,0 0,0 Net commission and Commission from Payment transmission Insurance servi
Slide 18: Changes in net commission and other income year (Group)
Changes in net commission and other income year (Group) (excl. Commission from covered bond companies) From Q2-2014 to Q2-2015 300,0 -8,5 20,0 250,0 -27,3 20,1 4,4 3,8 200,0 150,0 239,5 227,0 100,0 50,0 0,0 Net commission and Insurance service Real estate brokerage Income from accounting Other commi
Slide 19: Net interest income (Group)
Net interest income (Group) Interest income excl. Commission from covered bond companies * Interest income incl. commission from covered bond companies 280 2,25% 350 272 272 271 2,20% 300 270 266 265 263 259 2,15% 250 260 252 2,10% 200 250 2,05% 240 150 240 2,00% 100 230 1,95% 50 220 1,90% Q2-13 Q3-
Slide 20: Net commission and other income (Group)
Net commission and other income (Group) Net commission and other income Composition of total income from banking operations 200 180 13 % Net interest income 160 140 Commission from 120 15 % corverd bond companies 100 Net commission income 80 11 % 61 % 60 Other income 40 20 0 Q2-14 Q3-14 Q4-14 Q1-15
Slide 21: Net income from financial assets and liabilities (Group)
Net income from financial assets and liabilities (Group) 2015 Q2 2015 Q1 2015 Q4 2014 Q3 2014 Q2 2014 Q1 2014 2014 Dividends 8 1 7 1 1 0 12 14 Net profit from ownership interest 164 76 88 97 103 80 114 394 Net income from other financial assets and liabilities 31 5 26 29 173 -3 -33 166 Net income fr
Slide 22: Operating expenses (Group)
Operating expenses (Group) 2015 Q2 2015 Q1 2015 Q4 2014 Q3 2014 Q2 2014 Q1 2014 2014 Payroll 217 108 109 102 98 95 102 397 Pension costs 28 14 14 13 14 14 13 54 Social security expenses 45 21 24 31 20 20 21 92 Total personnel expenses 290 143 147 146 132 129 136 543 Operating expenses and other expe
Slide 23: Operating expenses (parent bank)
Operating expenses (parent bank) 2015 Q2 2015 Q1 2015 Q4 2014 Q3 2014 Q2 2014 Q1 2014 2014 Payroll 136 69 67 62 66 66 66 261 Pension costs 23 12 11 12 12 12 12 47 Social security expenses 29 15 14 23 13 15 14 65 Total personnel expenses 188 96 92 97 91 93 92 374 Operating expenses and other expenses
Slide 24: Losses on loans and guarantees (Group)
Losses on loans and guarantees (Group) Defaulted and doubtful commitments Yearly losses 900 2,00% 80 72 66 800 1,80% 60 50 700 1,60% 42 420 1,40% 40 600 270 1,20% 500 20 271 217 5 209 1,00% 400 0 0,80% 300 2011 2012 2013 2014 So far 2015 0,60% 424 459 Quarterly losses 200 374 0,40% 340 339 100 50 43
Slide 25: Interest margin Parent bank
Interest margin Parent bank (incl. Boligkreditt and excl. Mastercard) 2,30% 2,29% 2,28% 2,26% 2,22% 2,22% 2,20% 2,20% 2,17% 2,16% 2,14% 2,10% 2,01% 2,00% 2,01% 1,93% 1,90% Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 SH
Slide 26: Interest margin Parent bank
Interest margin Parent bank (incl. Boligkreditt and excl. Mastercard) 2,70% 2,62% 2,59% 2,58% 2,60% 2,57% 2,57% 2,57% 2,49% 2,50% 2,50% 2,50% 2,40% 2,41% 2,28% 2,30% 2,24% 2,19% 2,20% 2,18% 2,15% 2,11% 2,08% 2,10% 2,06% 2,05% 2,12% 1,97% 2,01% 2,00% 1,91% 1,90% 1,82% 1,80% Q3 2012 Q4 2012 Q1 2013 Q2
Slide 27: Main figures Sparebanken Hedmark (Group)
Main figures Sparebanken Hedmark (Group) 1. half- 1. half- year 2015 year 2014 2014 Profitability Return on equity capital after tax 11,0 % 12,3 % 14,4 % From the balance sheet Assets 53.558 50.195 49.934 Business volume 69.462 65.855 65.928 Lending growth last 12 months incl. Loans transferred to c
Slide 28: Balance sheet (Group)
Balance sheet (Group) 30.06.2015 30.06.2014 31.12.2014 ASSETS Cash and deposits with central banks 626 1.504 748 Loans to and receivables from credit institutions 1.205 629 675 Loans to and receivables from customers 41.826 38.004 39.691 Financial papers 5.859 6.062 4.787 Investments in subsidiaries
Slide 29: Development in balance sheet (Group)
Development in balance sheet (Group) Gross loans incl. Loans transferred to covered bond companies (Nok billion) Development in assets and business volume (Nok billion) 70,0 15,0 % 100 62,6 65,9 65,5 60,0 56,7 50,0 10,0 % 50 40,0 30,0 5,0 % 0 20,0 2012 2013 2014 So far 2015 10,0 0,0 % Q2-13 Q3-13 Q4
Slide 30: Development in Tier 1 ratio (Group)
Development in Tier 1 ratio (Group) • Capital adequacy ratio group as at 30.06.15: 19.0 % • Tier 1 Capital ratio parent bank as at 30.06.15: 24.1 % 20,0 % 18,0 % 0,4 % 16,0 % 0,2 % 0,4 % 14,0 % 12,0 % 10,0 % 8,0 % 16,9 % 16,2 % 17,0 % 15,2 % 14,8 % 6,0 % 4,0 % 2,0 % 0,0 % 2011 2012 2013 2014 So far
Slide 31: Equity ratio (Group)
Equity ratio (Group) 18,0 % 18,0 % 17,0 % 17,0 % 16,0 % 16,0 % 15,0 % 15,3 % 15,0 % 15,2 % 14,0 % 14,0 % 14,2 % 13,7 % 13,0 % 13,0 % 12,8 % 12,0 % 12,0 % 11,0 % 11,0 % 10,0 % 10,0 % 9,0 % 9,0 % 8,0 % 8,0 % 2011 2012 2013 2014 So far 2015 Equity ratio Common equity Tier 1 Capital Ratio
Slide 32: Composition of loans and receivables from customers (Group)
Composition of loans and receivables from customers (Group) Composition of loans incl. covered bond companies Composition of loans incl. covered bond companies Commercial services 1.729 Primary Other BM industries 2.777 31,8 % 3.661 Wholesale and retail trade PM 1.030 68,2 % Private customers Real e
Slide 33: Liquidity reserves
Liquidity reserves Må få tall fra Cathrine 10.000 9.000 147 8.000 7.000 3.697 6.000 5.000 253 8.605 4.000 3.000 4.053 2.000 1.000 455 0 Cash Drawing rights in the Other liquid assets Unutilized credit facilities Funds and listed shares Liquidity reserve Central Bank
Slide 34: Maturities
Maturities Annual maturities, NOK 10 857 mill Funding maturities the next 12 months, NOK 962 3000 600 2500 500 2000 400 2180 1500 300 513 450 1000 1900 200 1463 1350 100 500 1000 800 450 500 550 400 200 0 0 65 jul.15 aug.15 sep.15 okt.15 nov.15 des.15 jan.16 feb.16 mar.16apr.16 mai.16 jun.16 Subordi
Slide 35: Kontakt
Kontakt: Administrerende direktør: richard.heiberg@sparebanken-hedmark.no Finansdirektør: tad@sparebanken-hedmark.no