Sparebank 1 Ostlandet · OSL:SPOL
Sparebank 1 Ostlandet — Sparebanken Hedmark — Q1 2015 Earnings Presentation
27 slides from Sparebank 1 Ostlandet's earnings presentation, 2015
Slide 1: Sparebanken Hedmark – Presentation of financial results Q1-2015
Sparebanken Hedmark Presentation of financial results Q1-2015
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 7.9 billion in equity. NOK 51 billion in total assets. Norway’s largest self- NOK 67 billion in commercial volume (incl. loans to SpareBank 1
Slide 3: Highlights – First quarter 2015
Highlights – First quarter 2015 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 transferred to covered bond companies St
Slide 4: Profit/loss (Group)
Profit/loss (Group) Q1 Q1 2015 2014 2014 Net interest income 265 240 1.043 Net commission income 110 130 446 Other income 61 56 217 Total operating expenses 258 242 981 Result bank operation before losses 178 184 725 Losses on loans and guarantees 5 12 66 Result bank operation after losses 173 172 6
Slide 5: Profit/loss (Parent bank)
Profit/loss (Parent bank) Q1 Q1 2015 2014 2014 Net interest income 206 193 835 Net commission income 98 135 466 Other income 7 2 16 Total operating expenses 179 178 726 Result bank operation before losses 132 152 591 Losses on loans and guarantees -2 8 52 Result bank operation after losses 134 144 5
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 350 300 261 294 300 250 265 250 200 180 200 150 150 117 128 100 100 82 50 40 50 0 0 Q1-12 Q1-13 Q1-14 Q1-15 Q1-12 Q1-13 Q1-14 Q1-15
Slide 7: Income statement quarterly (Group)
Income statement quarterly (Group) Q1 2015 Q4 2014 Q3 2014 Q2 2014 Q1 2014 Q4 2013 Q3 2013 Q2 2013 Q1 2013 Net interest income 265 272 272 259 240 263 266 252 227 Net commission income 110 104 104 109 130 100 104 89 77 Other income 61 54 51 57 56 46 49 48 46 Total operating expenses 258 263 237 239
Slide 8: Specification of results (Group)
Specification of results (Group) (Nok million) Q1 2015 Q1 2014 2014 Parent Bank's profit after tax 218 149 835 Dividends received from subsidiaries and joint ventures -94 -58 -135 0 0 Profit /loss attributable to: 0 0 SpareBank 1 Gruppen AS 34 27 202 Bank 1 Oslo Akershus AS 31 85 183 SpareBank 1 Bol
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 290 283 457 500 280 268 400 270 260 294 300 269 241 250 244 240 240 200 230 100 220 0 210 Q2-14 Q3-14 Q4-14 Q1-15 Q2-14 Q3-14 Q4-14 Q1-15 Net result from other
Slide 10: Specification of the consolidated profit (Group)
Specification of the consolidated profit (Group) Change in profit before tax Q1-2015 vs Q1-2014 350 300 -16 7 25 -15 59 -31 250 200 150 294 265 100 50 0 Profit before tax Change in net Change in net Change in result Change in net Change in Change in losses Profit before tax Q1 2014 interes income co
Slide 11: 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% 350 272 272 270 266 265 2,20% 263 300 57 52 53 60 60 52 259 49 260 63 252 2,15% 250 41 250 2,10% 240 200 240 2,05% 230 227 150 266 263 259
Slide 12: 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 5 160 38 5 24 14 % 9 8 140 35 16 25 29 47 Net interest income 120 19 19 22 21 100 15 20 17 Net commission income 21 21 25 % 80 29 16 21 Other income 18 15 61 % 60 10 10
Slide 13: Net income from financial assets and liabilities (Group)
Net income from financial assets and liabilities (Group) Q1 2015 Q4 2014Q3 2014 Q2 2013 Q1 2013 2014 Dividends 7 1 1 0 12 14 Net profit from ownership interest 88 97 103 80 114 394 Net income from other financial assets and liabilities 26 29 173 -3 -33 166 Net income from financial assets and liabil
Slide 14: Operating expenses (Group)
Operating expenses (Group) Q1 2015Q4 2014 Q3 2014 Q2 2014 Q1 2014 2014 Payroll 109 102 98 95 102 397 Pension costs 14 13 14 14 13 54 Social security expenses 24 31 20 20 21 92 Total personnel expenses 147 146 132 129 136 543 Operating expenses and other expenses 71 81 70 74 69 294 Total personell- a
Slide 15: Operating expenses (parent bank)
Operating expenses (parent bank) Q1 2015 Q1 2014 2014 Payroll 67 66 261 Pension costs 11 12 47 Social security expenses 14 14 65 Total personnel expenses 92 92 374 Operating expenses and other expenses 59 59 249 Total personell- and operating expenses 151 151 623 Depreciation 8 8 33 Other operating
Slide 16: 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 1,00% 5 209 400 217 0 0,80% 300 2011 2012 2013 2014 So far 2015 0,60% 424 459 Quarterly losses 200 0,40% 340 339 301 100 50 43
Slide 17: Interest margin Parent bank
Interest margin Parent bank (incl. 2,30% Boligkreditt and excl. Mastercard) 2,29% 2,28% 2,26% 2,22% 2,22% 2,20% 2,20% 2,16% 2,14% 2,10% 2,07% 2,00% 2,01% 2,01% 1,93% 1,90% Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 SH
Slide 18: Interest margin Parent bank
Interest margin Parent bank (incl. Boligkreditt and excl. Mastercard) 2,70% 2,62% 2,59% 2,57% 2,58% 2,60% 2,57% 2,57% 2,50% 2,49% 2,50% 2,41% 2,40% 2,35% 2,30% 2,28% 2,24% 2,18% 2,19% 2,20% 2,15% 2,12% 2,11% 2,10% 2,05% 2,00% 1,97% 2,01% 2,06% 2,00% 1,91% 1,90% 1,80% 1,82% Q2 2012 Q3 2012 Q4 2012 Q1
Slide 19: Main figures Sparebanken Hedmark (Group)
Main figures Sparebanken Hedmark (Group) Q1 2015 Q1 2014 2014 Profitability Return on equity capital after tax 12,5 % 13,4 % 14,4 % From the balance sheet Assets 51.101 46.869 49.934 Business volume 67.236 62.563 65.928 Lending growth last 12 months incl. Loans transferred to covered bond companies
Slide 20: Balance sheet (Group)
Balance sheet (Group) 31.03.2015 31.03.2014 31.12.2014 ASSETS Cash and deposits with central banks 490 376 748 Loans to and receivables from credit institutions 659 791 675 Loans to and receivables from customers 40.242 36.640 39.691 Financial papers 5.526 5.200 4.787 Investments in subsidiaries, as
Slide 21: 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) 60,0 50,8 51,6 52,4 52,6 53,9 54,8 55,9 56,6 80 67,2 49,0 62,6 65,9 50,0 10,0 % 56,7 40,0 60 30,0 5,0 % 40 20,0 10,0 0,0 % 20 Q1-13
Slide 22: Development in Tier 1 ratio (Group)
Development in Tier 1 ratio (Group) • Capital adequacy ratio group as at 31.03.15: 17.6 % • Tier 1 Capital ratio parent bank as at 31.03.15: 22,4 % 18,0 % 16,0 % 0,2 % 0,5 % 0,4 % 14,0 % 12,0 % 10,0 % 8,0 % 16,9 % 16,2 % 15,2 % 14,8 % 15,3 % 6,0 % 4,0 % 2,0 % 0,0 % 2011 2012 2013 2014 So far 2015 Co
Slide 23: Equity ratio (Group)
Equity ratio (Group) 16,0 % 18,0 % 15,0 % 17,0 % 15,3 % 15,4 % 16,0 % 14,0 % 14,2 % 15,0 % 13,7 % 13,0 % 14,0 % 12,8 % 12,0 % 13,0 % 11,0 % 12,0 % 11,0 % 10,0 % 10,0 % 9,0 % 9,0 % 8,0 % 8,0 % 2011 2012 2013 2014 Hittil 2015 Egenkapitalandel Ren kjernekapitaldekning
Slide 24: 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 Primary services; industries; 1.706 3.515 Other; 2.682 BM; 31,7 % Wholesale and retail trade; PM; 1.024 68,3 % Private customers;
Slide 25: Liquidity reserves
Liquidity reserves 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 26: Maturities
Maturities Annual maturities Funding maturities the next 12 months 600 3000 2500 400 2000 1500 2.180 1000 1.900 200 1.463 500 1.150 858 700 500 500 400 200 0 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Subordinated CP Loans from banks 2028 CP Loans from banks Bond issues F-loa
Slide 27: Kontakt
Kontakt: Administrerende direktør: richard.heiberg@sparebanken-hedmark.no Finansdirektør: tad@sparebanken-hedmark.no