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)

5

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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.