Sparebank 1 Ostlandet · OSL:SPOL
Sparebank 1 Ostlandet — Sparebanken Hedmark — Q3 2014 Earnings Presentation
24 slides from Sparebank 1 Ostlandet's earnings presentation, Oct 31, 2014
Slide 1: Sparebanken Hedmark Third Quarter 2014
Sparebanken Hedmark Third Quarter 2014 Presentation of financial results CEO Richard Heiberg 31.10.2014
Slide 2: About Sparebanken Hedmark
About Sparebanken Hedmark • Sparebanken Hedmark is the leading provider of financial products to people, companies and the public sector in Hedmark • Norway's largest self-owned savings bank: – NOK 7.4 billion in equity – NOK 50 billion in total assets – NOK 65 billion in commercial volume (incl. lo
Slide 3: Highlights - Q3 2014
Highlights - Q3 2014 • Record profit after tax of NOK 403 million for the third quarter - the profit from the sale of the shares in Nets AS amounted to NOK 158 million. • Very good profit after tax of NOK 826 million for the year-to-date, which represents a return on equity of 15.5 per cent • The co
Slide 4: Profit/loss first quarter 2014 (Group)
Profit/loss first quarter 2014 (Group) Q3 2014 Q3 2013 2013 Net interest income 771 745 1008 Net commission income 342 270 370 Other income 163 143 189 Total operating expenses 718 681 916 Result bank operation before losses 558 477 651 Losses on loans and guarantees 42 29 72 Result bank operation a
Slide 5: Result before tax for Group and Parent Bank
Result before tax for Group and Parent Bank Result before tax accumulated - Group Result before tax accumulated – Parent bank 1200 1200 1000 1000 963 800 800 693 600 600 590 457 468 460 400 439 400 397 200 200 0 0 Q3-11 Q3-12 Q3-13 Q3-14 Q3-11 Q3-12 Q3-13 Q3-14 5
Slide 6: Income statement isolated quarters (Group)
Income statement isolated quarters (Group) Q3 2014 Q2 2014 Q1 2014 Q4 2013 Q3 2013 Net interest income 272 259 240 263 266 Net commission income 104 109 130 100 104 Other income 51 57 56 46 49 Total operating expenses 237 239 242 235 223 Result bankoperation before losses 190 185 184 174 196 Losses
Slide 7: Specification of results (Group)
Specification of results (Group) (Nok million) Q3 2014 Q3 2012 2013 Parent Bank's profit after tax 693 460 622 Dividends received from subsidiaries and joint ventures -135 -124 -123 Profit /loss attributable to: SpareBank 1 Gruppen AS 146 97 132 Bank 1 Oslo Akershus AS 149 99 133 SpareBank 1 Boligkr
Slide 8: 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 350 500 456 298 450 300 283 254 400 244 250 350 200 300 251 265 241 250 150 200 100 150 100 50 50 0 0 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2013 Q1 2014 Q2 2014 Q
Slide 9: Specification of the consolidated profit (Group)
Specification of the consolidated profit (Group) Change in profit before tax Q3 2013 vs Q3 2014 1200 218 -37 -13 963 1000 87 800 92 590 26 600 400 200 0 Profit before tax Q3 Net interest income Net commission and Result from Net income from Operating expenses Losses Profit before tax Q3 2013 other i
Slide 10: Net interest income (Group)
Net interest income (Group) Interest income excl. commission from covered bond companies Interest income incl. commission from covered bond companies 350 2,25% 350 2,21% 2,21% 2,21% 2,20% 300 2,20% 300 57 52 60 60 49 63 2,15% 37 250 2,15% 250 27 41 200 2,10% 200 2,07% 2,05% 150 2,04% 2,05% 150 266 2
Slide 11: Net commission and other income (Group)
Net commission and other income (Group) 200 5 180 19 160 5 20 9 17 140 44 18 21 20 26 120 16 27 22 9 100 38 35 22 19 25 80 21 17 19 18 60 21 40 60 63 60 57 52 20 0 Q3-13 Commission from covered bond companies Q4-13 Real estate brokerage Q1-14 Income from accounting Q2-14 Payment transmission Insuran
Slide 12: Net income from financial assets and liabilities (Group)
Net income from financial assets and liabilities (Group) 2014 Q3 2014 Q2 2014 Q1 2014 Q4 2013 Q3 2013 Utbytte 13 1 12 0 Inntekter av eierinteresser 297 103 80 114 81 99 Gevinst/tap og netto verdiendringer på aksjer 154 154 -54 10 Gevinst/tap og netto verdiendringer på sertifikater og obligasjoner -1
Slide 13: Operating expenses (Group)
Operating expenses (Group) Q3 Q2 Q1 Q4 Q3 2014 2014 2014 2014 2013 2013 Payroll 295 98 95 102 91 90 Pension costs 41 14 14 13 11 13 Social security expenses 61 20 20 21 22 19 Total personnel expenses 397 132 129 136 124 122 0 0 Total operating expenses and other expenses 213 70 74 69 78 67 Total per
Slide 14: Losses on loans and guarantees (Group)
Losses on loans and guarantees (Group) Quarterly losses isolated Yearly losses -160 -140 -146 -120 -50 -100 -45 -80 -40 -43 -60 -72 -35 -40 -50 -50 -42 -42 -20 -29 -30 0 -25 2009 2010 2011 2012 2013 Q3-2013 Q3-2014 -23 -20 -22 -21 Defaulted and doubtful commitments 1.000 2,00% -15 800 1,50% -10 -12
Slide 15: Interest margin Parent bank (incl. Boligkreditt and excl. Mastercard)
Interest margin Parent bank (incl. Boligkreditt and excl. Mastercard) 2,30% 2,27% 2,26% 2,25% 2,23% 2,22% 2,21% 2,19% 2,20% 2,14% 2,11% 2,10% 2,01% 2,01% 2,00% 1,94% 1,90% Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 SH 15
Slide 16: Interest margin Parent bank (incl. Boligkreditt and excl. Mastercard)
Interest margin Parent bank (incl. Boligkreditt and excl. Mastercard) 2,70% 2,62% 2,59% 2,60% 2,57% 2,54% 2,55% 2,54% 2,52% 2,49% 2,50% 2,42% 2,40% 2,36% 2,30% 2,30% 2,24% 2,20% 2,18% 2,17% 2,16% 2,15% 2,12% 2,08% 2,09% 2,10% 2,04% 2,00% 1,98% 2,00% 1,93% 1,90% 1,83% 1,80% Q4 2011 Q1 2012 Q2 2012 Q3
Slide 17: Main figures Sparebanken Hedmark (Group)
Main figures Sparebanken Hedmark (Group) Q3 2014 Q3 2013 2013 Profitability Return on equity capital after tax 15,5 % 10,3 % 11,0 % From the balance sheet Assets 50.195 45.956 47.397 Business volume 65.855 60.278 62.578 Lending growth last 12 months incl. Loans transferred to covered bond companies
Slide 18: Balance sheet (Group)
Balance sheet (Group) 30.09.2014 30.09.2013 31.12.2013 ASSETS Cash and deposits with central banks 713 313 572 Loans to and receivables from credit institutions 635 314 699 Loans to and receivables from customers 38.978 37.022 36.936 Financial papers 5.322 4.843 5.646 Investments in subsidiaries, as
Slide 19: Development in balance sheet (Nok billion) (Group)
Development in balance sheet (Nok billion) (Group) Gross loans incl. Loans transferred to covered bond companies Development in assets and business volume 60,0 12,0 % 70,0 62.6 65.9 56.7 10,0 % 60,0 53.0 50,0 53.9 54.8 49.6 50.8 51.6 52.4 52.6 44.3 46.1 48.1 49.0 50,0 46.7 8,0 % 38.4 40,0 40,0 6,0 %
Slide 20: Development in Tier 1 ratio (Group)
Development in Tier 1 ratio (Group) Core equity tier 1 ratio parent bank as at 30.09: 21.0 % 18,0 % 16,0 % 16.9 % 0.2 % 16.2 % 1.8 % 15.1 % 15.2 % 14,0 % 14.5 % 14.1 % 13.2 % 12,0 % 11.5 % 10,0 % 8,0 % 6,0 % 4,0 % 2,0 % As at 1. July 2014 the 0,0 % Government will implement 2007 2008 2009 2010 2011
Slide 21: Equity ratio (Group)
Equity ratio (Group) 18,0 % 18,0 % 17,0 % 17,0 % 16,0 % 16,0 % 15,0 % 15,0 % 15,0 % 14,0 % 14,2 % 14,0 % 13,7 % 13,0 % 13,0 % 12,8 % 12,8 % 12,0 % 12,0 % 11,5 % 11,0 % 11,0 % 10,8 % 10,0 % 10,4 % 10,0 % 9,0 % 9,0 % 8,0 % 8,0 % 2007 2008 2009 2010 2011 2012 2013 Q3 2014 Equity ratio Tier 1 Ratio 21
Slide 22: 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 excl. covered bond companies Commercial Corporate services; 1,861 Primary banking; 43,1 % Other; Retail banking; industries; 3,460 2,505 56,9 % Wholesale and retail trad
Slide 23: Liquidity reserves
Liquidity reserves • The figure shows the distribution of the bank's liquidity reserve as at 30.09.2014 7000 6000 47 1,000 5000 253 4000 3000 6,017 4,015 2000 1000 702 0 Cash Drawing rights in the Other liquid assets Unutilized credit facilities Funds and listed shares Liquidity reserve Central Bank
Slide 24: Maturities
Maturities Annual maturities; total to maturity MNOK 9 118 Funding maturities the next 12 months MNOK 660 2500 800 2000 600 1500 1000 400 500 200 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 F-loan, Central Bank 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Bond issues 0 1205 1467,5 18