Fourth quarter 2021
Sbanken group
Sbanken - the leading digital challenger
Leading digital bank with more than 483 000 retail customers and 10 000 SMEs
CAGR loan growth 7.4 % since IPO November 2015
Average ROE of 11.6 % last four years
Most satisfied customers in the last 20 years
Capitalising on platform investments
2
Developments in the quarter
Positive lending development
- Quarterly lending growth 2.8 %.
- Car loans up 11.4 % from last quarter
- Mortgage rate guarantee until 31 December, contributing to positive lending growth but compressing NIM in Q4 2021
Return on Equity
DNB transaction
- DNB has challenged the Norwegian Competition Authority's (NCA) decision to reject the contemplated acquisition.
- The Norwegian Competition Tribunal will conclude their review by 16 March
Robust asset quality
- Reversing previous losses
Dividend
- Proposed dividend of NOK 6.60 per share for 2021, corresponding to marginally below 100 percent of the groups result for 2021
Customer satisfaction
12.5 % | 13.4 % | |||
11.1 % | ||||
10.7 % | 9.2 % | 10.1 % | ||
4Q20 | 1Q21 | 2Q21 | 3Q21 | 4Q21 | 4Q21 adj.* |
- Rated by EPSI as the supplier within savings and investments, with the most satisfied customers
*Adjusted for one-off-effects and calculated as if CET1 was 13 percent.
3
Financial highlights
Q4 2021 | Q4 2020 | 12-month growth | |
Net interest income (NOK million) | 367.3 | 407.3 | -9.8 % |
Net fee and commission (NOK million) | 64.4 | 49.6 | 29.9 % |
Net profit (NOK million) | 182.8 | 221.4 | -17.4 % |
Earning per share (NOK) | 1.65 | 2.01 | |
ROE (per cent) | 10.1 | 12.5 | |
Cost-to-income(per cent) | 45.0 | 39.8 | |
Loan-loss-ratio(per cent) | -0.01 | 0.02 | |
NIM (per cent) | 1.53 | 1.60 | |
CET1 (per cent) | 15.0* | 15.5 | |
FuM (NOK billion) | 33.1 | 30.3 | |
* Year-end 2021 is adjusted with proposed dividend of NOK 6.60 per share. | 4 |
Long-term balance between profitability and growth
Total loans to customers (bNOK)
90
85
80
75
70
81.6 | 83.0 | |
81.5 | ||
79.2 | 79.9 | 3.5 |
78.2 | 3.8 | 3.7 |
3.3 | 3.6 | 79.5 |
77.8 | 77.8 | |
3.6 |
75.976.3
74.6
1,100 | ||||||
84.4 | 83.6 | 83.4 | 83.2 | 84.7 | 1,000 | |
82.4 | ||||||
3.2 | 82.0 | 2.4 | ||||
3.1 | ||||||
2.9 | 2.8 | |||||
2.6 | 82.2 | |||||
81.2 | 2.5 | 900 | ||||
80.5 | 80.5 | 80.4 | 79.8 | |||
79.4 | ||||||
800 | ||||||
700 |
Earnings before tax - adjusted (LTM)
65 | 600 | ||||||||||||||||
60 | 500 | ||||||||||||||||
4Q18 | 1Q19 | 2Q19 | 3Q19 | 4Q19 | 1Q20 | 2Q20 | 3Q20 | 4Q20 | 1Q21 | 2Q21 | 3Q21 | 4Q21 | |||||
Secured lending | Unsecured lending | Earnings before tax - adjusted (LTM) | Earnings before tax (LTM) | ||||||||||||||
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Sbanken ASA published this content on 10 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 February 2022 11:30:03 UTC.