Financial statements

2023

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

Definition of key performance indicators

KPI calculations (pdf)
Alternative key ratios Definition Purpose
Return on equity, % * The period’s operating profit (annualized to a full-year result) minus tax estimate in relation to average equity. Average equity is calculated from the value at month’s end in the timeframe, including the previous year-end, adjusted for capital to future dividends. To give the reader additional information on the bank’s profitability.
Return on total assets, % Bank’s return in relation to total assets. To give the reader more information on the bank’s profitability.
Cost/income ratio Total costs relative to total revenues. To give the reader more information on the bank’s cost-efficiency.
Cost/income ratio excluding credit losses Total costs in relation to total revenues, excluding net interest and credit losses. To give the reader more information on the bank’s cost-efficiency.
Cost/income ratio, excluding net interest credit losses Total costs in relation to total revenues, excluding credit losses. To give the reader more information on the bank’s cost-efficiency.
Credit losses/loans, % Total recognized credit losses in relation to loans. Provide the reader with additional information on credit losses in relation to total lending.
Deposits/loans, % Total deposits in relation to loans. Provide the reader with additional information on the relative size of deposits in relation to total lending.
Net interest/ø lending, % The bank’s net interest income in relation to lending, corresponding to the previous year’s average, and this year's lending and leasing. Provide the reader with additional information on net interest income relative to average lending.
Credit losses/ø lending, % The bank’s credit losses in relation to lending, which corresponds to the average of this year’s and last year’s lending and leasing.  Provide the reader with additional information on the size of credit losses relative to average lending.
Average number of employees Average number of employees during the year. Provide the reader with additional information on average number of full-time employees at the bank.

* Definition found in reports published before 31/3 2023:

In the annual report, the bank uses results relative to opening equity balance. In quarterly reports, we use the adjusted average annual result in relation to opening equity balance.

Key ratios defined in the Capital Requirements Regulation (CRR)

Total capital ratio, %

Total capital base for capital adequacy purposes in relation to risk-weighted assets.

Common equity tier 1 capital ratio, %

Common equity tier 1 (CET1) capital in relation to risk-weighted assets.

Total capital ratio without transitional rules, %

Total capital base for capital adequacy purposes in relation to risk-weighted assets, excluding transitional rules.

Total capital ratio without transitional rules, %

Total capital base for capital adequacy purposes in relation to risk-weighted assets, excluding transitional rules.

Return on Risk-Weighted Assets, %

In the annual report, the bank uses results in relation to risk-weighted assets. In quarterly reports, we use annualized average results in relation to risk-weighted assets.

Liquidity Coverage Ratio (LCR), %

The liquidity coverage ratio is a key part of the Basel Accords since it determines the amount of liquid assets that financial institutions must hold. Banks are required to maintain a specific quantity of high-quality liquid assets, including cash or government securities, equivalent to or greater than their net cash outflows over a 30-day period (the coverage ratio must be at least 100%).

Net Stable Funding Ratio (NSFR), %

Net Stable Funding Ratio. A liquidity measure that assesses a bank's stable funding in relation to its illiquid assets during a volatile one-year scenario.

Leverage Ratio (LR), %

Leverage Ratio is defined as the bank's equity relative to total assets, representing a non risk-adjusted capital measure.