SAMPO BANK GROUP'S INTERIM REPORT JANUARY-JUNE 2006
- - Sampo Bank Group's profit before taxes for January-June rose to EUR
176 million (119)
- - Net interest income increased 8 per cent to EUR 180 million (167)
- - Rapid growth continued in fee and commission income
- - Loans and advances to customers continued to grow and loan stock
surpassed EUR 20 billion
- - Credit quality remained firm
- - Annualised RoE for Sampo Bank Group rose to 26.4 percent (17.9)
- - Sampo Bank Group's total assets increased by 10 per cent from year
end 2005 and amounted
to EUR 25.6 billion (23.2) at June 30
KEY FIGURES
EURm
1 - 6 /2006 1 - 6 /2005 1 - 12 /2005
Total income 396 309 643
Total costs -225 -198 -394
Impairment losses on loans and
receivables 5 7 3
Operating profit before taxes 176 119 252
Cost to income ratio, % 56.7 63.9 61.2
Total assets, at end of period 25,615 21,599 23,207
Capital and reserves, at end of
period 1,114 931 1,032
Return on eguity, % 26.4 17.9 18.4
Capital adequacy, % 10.9 9.9 10.6
Average staff number during the
period 4,340 3,940 4,201
SAMPO BANK GROUP IN JANUARY - JUNE 2006
Investment services companies were transferred to the ownership of
Sampo Bank plc on 30 December 2005. Therefore they are not included
in the comparison figures for 2005.
Operating performance of Sampo Bank Group continued to improve and
profit before taxes for the first six months rose to EUR 176 million
(119). The improvement was largely derived from higher net interest
and fee income. Annualised return on equity amounted to 26.4 per cent
(17.9).
Net interest income grew to EUR 180 million (167) as good growth in
lending volumes continued. Higher interest rates had positive impact
on interest income and income from financial transactions. The
pressure on housing loan margins has leveled off but lower margins on
new loans still reduce the average lending margin.
Net fee and commission income increased clearly compared with first
half of 2005 and rose to EUR 132 million (75). All fee and commission
items developed favorably and good growth continued particularly in
asset management and investment banking.
Total operating costs were EUR 225 million (198). In Finland costs
grew roughly in-line with wage inflation. Cost-to-income ratio
improved to 56.7 per cent (63.9).
Loans and advances to customers increased by 8 per cent from year-end
2005 and totalled EUR 20,003 million (18,484). Good growth in
mortgages continued and mortgage stock grew year-on-year by 25 per
cent in total and 21 per cent in Finland. Market growth in Finland
during the same time period was 15 per cent. Sampo Bank's market
share of Finnish housing loans increased to 15.8 per cent (15.0).
Corporate lending grew by 13 per cent and corporate loan stock
amounted to EUR 7,797 million. Consumer credits and other consumer
loans grew rapidly by 17 and 36 per cent, respectively.
Geographically the Baltic countries continued to provide the fastest
growth in both lending and deposits. The Baltic loan stock increased
by 27 per cent from year-end 2005 to EUR 1,843 million (1,447).
Despite the strong growth and investments in distribution, the Baltic
operations are starting to show good profitability as RoE for Baltic
banking stood at 16.0 per cent (15.7). The cost-to-income ratio of
Baltic banking improved to 64.9 per cent (69.1). Sampo has already 33
banking branches in the Baltic countries and the number of customers
has exceeded 200,000.
Credit quality remained firm while net impairment on loans and
receivables was positive and added EUR 5 million (7) to the profit.
Sampo Bank's mutual fund assets amounted to EUR 10.0 billion.
Increased market volatility during the second quarter impacted the
breakdown of mutual fund assets as some investors decreased equity
exposure and shifted their allocations towards less risky products.
Sampo's market share of assets of mutual funds registered in Finland
amounted to 19.1. Mutual fund assets include EUR 970 million of Sampo
Group investments, representing 9.7 per cent of total assets.
Deposits amounted to EUR 12,286 million increasing 7 per cent from
year end 2005 (11,442) and 15 per cent from June 2005 (10,722).
Part of the growth in banking operations was funded by issuing debt
securities. The amount of debt securities in issue rose to EUR 8,678
million from EUR 7,621 million at year end and EUR 6,592 million at
end of June 2005. Equity increased slightly to EUR 1,114 million
(1,032) due to retained earnings.
CAPITAL ADEQUACY
The group's capital adequacy is calculated in accordance with the
provisions of the Act on Credit Institutions, 9:72-81 and FSA's
interpretation concerning own funds, number 3/125/2005.
+-------------------------------------------------------------------+
| EUR m | |
|------------------------------+------------------------------------|
| OWN FUNDS | 30.6.2006 | 31.12.2005 | 30.6.2005 |
|------------------------------+-----------+------------+-----------|
| Tier 1 1) | 1,281.6 | 1,255.1 | 1,040.5 |
|------------------------------+-----------+------------+-----------|
| Preferred capital notes | 346.2 | 343.8 | 223.0 |
|------------------------------+-----------+------------+-----------|
| Tier 2 | 688.5 | 488.2 | 485.8 |
|------------------------------+-----------+------------+-----------|
| Unrealised gains included in | 8.2 | 1.0 | 0.8 |
| the above | | | |
|------------------------------+-----------+------------+-----------|
| Deductions from own funds 2) | 0.0 | 0.9 | 1.9 |
|------------------------------+-----------+------------+-----------|
| Items included in own funds | 0.0 | 0.0 | 0.0 |
| to cover market risk | | | |
|------------------------------+-----------+------------+-----------|
| OWN FUNDS TOTAL | 1,970.1 | 1,742.5 | 1,524.4 |
|------------------------------+-----------+------------+-----------|
| RISK-WEIGHTED ASSETS | 18,070.5 | 16,466.2 | 15,438.5 |
|------------------------------+-----------+------------+-----------|
| Capital adequacy, % | 10.9% | 10.6% | 9.9% |
| - Own funds | | | |
| total/Risk-weighted assets | | | |
| (min. 8 %) | | | |
|------------------------------+-----------+------------+-----------|
| - of which tier | 7.1% | 7.6% | 6.7% |
| 1/Risk-weighted assets (min. | | | |
| 4 %) | | | |
+-------------------------------------------------------------------+
1) Preferred capital securities amount to 27 per cent of own funds
total at 30 June 2006.
2) On 31 March, 2003, the Financial Supervision granted Sampo Bank
an exemption, pursuant to the Act on Credit Institutions (75,5�),
permitting the non-deduction from its capital investments in
companies whose main business area is investment activity. The
exemption remains valid until 31 December, 2006.
At the end of June, Sampo Bank Group's capital adequacy ratio was
10.9 per cent and the Tier 1 ratio was 7.1 per cent. At the end of
2005 the capital adequacy ratio was 10.6 per cent and the Tier 1
ratio 7.6 per cent. The total capital included in capital adequacy
calculations amounted to EUR 1,970 million at the end of June
(1,743). The Group's risk-weighted assets at the end of June totalled
EUR 18,071 million (16,466).
The biggest change in the own funds is the debenture loan of EUR 200
million issued in May 2006 and included in Tier 2 capital. The most
important factor in the growth of risk-weighted assets is the growth
in lending.
The equity in the balance sheet is EUR 1,113.5 million. Own funds in
the capital adequacy calculation are EUR 856.6 million bigger. The
equity does not include the preferred capital securities and the Tier
2 debenture loans. On the other hand, the valuation of financial
derivatives hedging cash flows and belonging to fair value reserve
in equity, are not included in the own funds in the capital adequacy
calculation. In the capital adequacy calculation intangible assets
and the planned dividend for the financial year have also been
deducted from the own funds.
RATINGS
At 30 June 2006 Sampo Bank plc and its subsidiary AS Sampo Pank in
Estonia had the following ratings.
Rated company Moody's Standard and Poor's
Sampo Bank Plc A1/P-1 A/A-1
AS Sampo Pank (Estonia) A2*/P1 not rated
At 3 April 2006 Moody's upgraded AS Sampo Pank's (Estonia) Financial
Strength Rating (FSR) from D to D+ with stable outlook.
CHANGES IN GROUP STRUCTURE
On 27 April 2006 Sampo Bank plc signed an agreement to acquire
Industry and Finance Bank (Profibank) based in St. Petersburg. The
closing of the transaction is subject to receiving necessary
authority approvals.
STAFF
Sampo Bank Group had 4,457 (4,222) employees at 30 June 2006
(full-time-equivalent). Of the total staff 77 per cent was located in
Finland and 23 per cent in the Baltics. The number of employees
increased in the rapidly growing Baltic subsidiaries.
ADMINISTRATION
In the review period the Board of Sampo Bank had the following
members: Bj�rn Wahlroos (Chairman), Patrick Lapvetel�inen, Ilkka
Hallavo, Mika Ihamuotila and Maarit N�kyv�. Staff representatives
were Raili Ikonen and Juhani Nyyss�nen (deputy).
Mika Ihamuotila acts as Managing Director of Sampo Bank plc.
Ernst & Young Oy, a firm of Authorised Public Accountants, is the
auditor of Sampo Bank plc with Tomi Englund, APA as the principally
responsible auditor.
DEVELOPMENTS AFTER THE REPORTING PERIOD
Sampo Bank plc sold in July 2006 its minority holding in Suomen
Asiakastieto Oy, a credit information company. The sales gain of
approx. EUR 16 million will be reported in the third quarter under
segment Banking and investment services.
Sampo Bank plc will securitise approximately one billion euros of the
exposure of corporate loans in its balance sheet. The reference
portfolio consists of the loans of over 600 Finnish companies. By the
transaction Sampo Bank can adjust its credit risk profile and release
capital for future growth. Securitization will be implemented by a
company established especially for this purpose.
OUTLOOK FOR THE WHOLE YEAR
Sampo Bank Group benefits from rising interest rates and its result
is expected to be very good for 2006.
With current interest rates the Bank's earnings are foreseen to
increase substantially. Further rate increases may, however,
temporarily postpone the effect as the Bank's funding is of a shorter
duration than its lending.
There are no signs of credit quality weakening.
Growth in fee income and a solid cost development are expected to
continue.
Helsinki 10 August 2006
Sampo Bank plc
Board of Directors
SAMPO BANK GROUP
Financial highlights
1-6/2006 1-6/2005 1-12/2005
Total income EURm 396 309 643
Total operating expenses EURm -225 -198 -394
Impairment on loans and
receivables EURm 5 7 3
Profit before taxes EURm 176 119 252
Cost to income ratio % 56.7 63.9 61.2
Total assets EURm 25,615 21,599 23,207
Equity EURm 1,114 931 1,032
Return on equity ( at
fair value) % 26.4 17.9 18.4
Capital adequacy % 10.9 9.9 10.6
Average number of staff 4,340 3,940 4,201
Return on assets (at fair
value) % 1.2 0.8 0.9
Equity/assets ratio (at
fair value) % 4.3 4.3 4.4
FORMULAS USED IN CALCULATING THE FINANCIAL HIGHLIGHTS
Cost to income ratio,%:
staff costs + other operating expenses
................................. x 100
net interest income + net income from financial transactions +
net fee and commission income +
net income from investments + other operating income
Return on equity (at fair value), %;
profit before taxes +/- change in fair value reserve
- - taxes
................................ x 100
equity + minority interests (average)
Return on assets (at fair value),%:
profit before taxes +/- change in fair value reserve
- - taxes
................................ x 100
average total assets
Equity/assets ratio (at fair value),%:
equity + minority interests
................................ x 100
total assets
CONSOLIDATED INCOME
STATEMENT
EURm Note 1-06/2006 1-06/2005 Change 1-12/2005
Net interest income 1 180.2 167.3 12.9 343.0
Net income from financial
transactions 2 37.4 28.4 9.0 63.3
Net fee and commission
income 3 131.5 75.3 56.2 153.9
Impairment losses on loans
and receivables 4 4.7 7.0 -2.3 2.9
Net income from investments 5 31.6 23.7 8.0 47.3
Other operating income 15.8 14.6 1.1 35.7
Total operating income 401.1 316.3 84.9 646.1
Staff costs 6 -102.2 -92.6 -9.7 -180.8
Other operating expenses -122.6 -105.2 -17.4 -212.9
Total operating expenses -224.8 -197.7 -27.1 -393.7
Profit before taxes 176.3 118.5 57.8 252.4
Taxes -41.5 -29.0 -12.5 -61.1
Profit for the period 134.9 89.6 45.3 191.3
Attributable to
Equity holders of parent
company 124.9 84.7 184.1
Minority interests 9.9 4.8 7.2
CONSOLIDATED BALANCE SHEET
EURm Note 06/2006 12/2005 06/2005
Assets
Cash and balances at central banks 1,658.2 1,289.7 814.5
Financial assets at fair value
through p/l 7,8 2,549.3 2,409.4 2,693.5
Loans and receivables 9 20,645.7 18,912.5 17,330.0
Investments 10 81.4 79.5 77.7
Intangible assets 11 69.9 66.5 72.1
Property, plant and equipment 83.0 81.6 177.6
Other assets 510.0 349.9 412.4
Tax assets 17.3 17.7 21.0
Total assets 25,614.8 23,206.8 21,598.8
Liabilities
Financial liabilities at fair value
through p/l 7,8 510.8 463.7 850.5
Amounts owed to credit institutions
and customers 12 13,339.9 12,336.3 11,460.8
Debt securities in issue 13 9,705.6 8,461.3 7,311.9
Other liabilities 915.6 892.0 1,011.5
Tax liabilities 29.4 21.2 33.4
Total liabilities 24,501.2 22,174.6 20,668.1
Equity
Share capital 106.0 106.0 106.0
Reserves 279.4 272.9 274.7
Retained earnings 711.6 636.5 537.2
Equity attributable to parent
company's equity holders 1,097.1 1,015.5 917.8
Minority interests 16.5 16.7 12.8
Total equity 1,113.5 1,032.2 930.6
Total equity and liabilities 25,614.8 23,206.8 21,598.8
STATEMENT OF
CHANGES IN EQUITY
Fair
Share Legal value Retained Minority
EURm capital reserve reserve earnings Total interest Total
Equity at 1 Jan.
2005 106.0 271.1 7.0 593.4 977.6 15.1 992.6
Cash flow hedges:
- recognised in
equity during the
period 5.4 5.4 5.4
- recognised in
p/l -8.2 -8.2 -8.2
Financial assets
available-for-sale
- change in fair
value -0.8 -0.8 -0.8
- recognised in
p/l
Exchange rate
translation
differences
Profit for the
period 84.7 84.7 4.8 89.6
Total income and
expenses
recognised for the
period -3.5 84.7 81.2 4.8 86.1
Dividends -141.0 -141.0 -7.1 -148.1
Equity at 30 June
2005 106.0 271.1 3.6 537.2 917.8 12.8 930.6
Equity at 1 Jan.
2006 106.0 271.1 1.8 636.5 1,015.5 16.7 1,032.2
Cash flow hedges:
- recognised in
equity during the
period 0.0 0.0 0.0
- recognised in
p/l -0.8 -0.8 -0.8
Financial assets
available-for-sale
- change in fair
value 12.1 12.1 12.1
- recognised in
p/l -4.9 -4.9 -4.9
Profit for the
period 124.9 124.9 9.9 134.9
Total income and
expenses
recognised for the
period 6.5 124.9 131.4 9.9 141.4
Dividends -50.0 -50.0 -10.2 -60.2
Equity at 30 June
2006 106.0 271.1 8.3 711.6 1,097.1 16.5 1,113.5
CASH FLOW STATEMENT
1-6/2006 1-6/2005 1-12/2005
Cash and cash equivalents at the
beginning of the period 1,394 995 995
Cash flows from/used in
operating activities -837 -461 -1,354
Cash flows from/used in
investing activities -26 -116 20
Cash flows from/used in
financing activities 1,241 623 1,733
Cash and cash equivalents at the
end of the period 1,771 1,041 1,394
The cash flow statement reports cash flows during the period
classified by operating, investing and financing activities. Cash
flows are reported by using the indirect method. Cash flows from
operating activities derive primarily from the principal
revenue-producing activities. Cash flows from investments in
subsidiaries and associated undertakings and those from investments
in intangible assets and property, plant and equipment are presented
in investing activities. Financing activities include cash flows
resulting from changes in equity and borrowings in order to conduct
the business. Cash and cash equivalents consist of cash and balances
with central banks and and loans and advances to credit institutions
repayable on demand.
SAMPO BANK GROUP QUARTERLY INCOME STATEMENT
EURm 1-6/2006 7-12/2005 1-6/2005
Net interest income 180.2 175.7 167.3
Net income from financial transactions 37.4 34.9 28.4
Net fee and commission income 131.5 78.5 75.3
Impairment losses on loans and
receivables 4.7 -4.1 7.0
Net income from investments 31.6 23.6 23.7
Other operating income 15.8 21.1 14.6
Total operating income 401.1 329.8 316.3
Staff costs -102.2 -88.2 -92.6
Other operating expenses -122.6 -107.7 -105.2
Total operating expenses -224.8 -195.9 -197.7
Profit before taxes 176.3 133.9 118.5
Taxes -41.5 -32.1 -29.0
Profit for the period 134.9 101.8 89.6
Attributable to
Equity holders of parent company 124.9 99.4 84.7
Minority interests 9.9 2.4 4.8
NOTES
ACCOUNTING POLICIES
Sampo Bank Group's consolidated financial statements are prepared in
accordance with the International Financial Reporting Standards
(IFRS) adopted by the EU. The interim financial statements are
presented in accordance with IAS 34 Interim Financial Reporting.
In preparing the interim financial statements, the same accounting
policies and methods of computation are applied as in the financial
statements for 2005. The financial statements for 2005 are available
on Sampo's website at the address www.sampo.com/ir.
SEGMENT INFORMATION
The segment reporting of Sampo Group is based on internal business
areas and on the organisation-al structure.
The segment results are reported as they are reported to the
management. Segment information based on business
areas represents the Group activities also geographically, because
the Baltic banking is one of the business areas.
Inter-segment pricing is based
on market prices.
In the consolidated financial statements the inter-segment
transactions, assets and liabilities have been eliminated.
GROUP RESULTS
AND ASSETS AND
LIABILITIES BY
SEGMENT FOR
SIX MONTHS
ENDED 30 JUNE
2006
Corpo-rate and Asset
Private insti-tutional Baltic Manage-ment
EURm customers custo-mers banking & Funds Other Elimi-nations Total
Net interest
income 110.7 81.5 22.7 0.3 -37.4 2.4 180.2
Impairment on
loans and
receivables 2.3 -7.6 0.6 0.0 -4.7
Other
operating
income 46.7 76.4 12.4 27.6 76.1 -22.9 216.2
Total
operating
income 155.1 165.4 34.5 27.9 38.7 -20.4 401.1
Total
operating
expenses 102.6 62.9 23.8 10.2 28.5 -3.2 224.8
Profit before
taxes 52.5 102.6 10.7 17.7 10.2 -17.2 176.3
Total assets 9,797.6 8,920.5 2,401.2 47.3 5,817.0 -1,368.8 25,614.8
Loans and
receivables 9,724.1 8,835.3 2,134.9 951.0 -999.6 20,645.7
Shares and
participations 5.1 2.3 8.2 15.5
Total
liabilities 5,727.0 6,726.1 2,243.5 26.7 10,952.4 -1,174.5 24,501.2
Amounts owed
to credit
institutions
and customers 5,392.8 6,259.0 2,014.7 673.2 -999.7 13,339.9
Share of
results of
associates 0.0 -0.1 0.5 0.3
Depreciation
and
amortisation 1.9 6.1 2.0 0.4 11.6 -0.4 21.6
Investments 1.9 0.3 0.9 0.1 14.3 17.5
On 30 December 2005 Sampo Bank plc acquired the investment service
companies from Sampo plc;
Mandatum Securities Ltd, Mandatum & Co Ltd, 3C Asset Management Ltd,
Arvo Value Asset Management Ltd,
Mandatum Asset Management Ltd, Sampo
Fund Management Ltd.
GROUP RESULTS
AND ASSETS AND
LIABILITIES BY
SEGMENT FOR
SIX MONTHS
ENDED 30 JUNE
2005
Corporate and
Private insti-tutional Baltic
EURm customers customers banking Other Elimi-nations Total
Net interest
income 96.8 70.1 16.1 -15.7 167.4
Impairment on
loans and
receivables 0.2 -8.3 1.1 0.0 -7.0
Other
operating
income 38.2 64.5 9.8 31.2 -1.8 141.9
Total
operating
income 134.7 143.0 24.8 15.6 -1.8 316.3
Total
operating
expenses 96.5 58.7 17.9 24.8 -0.1 197.7
Profit before
taxes 38.2 84.3 6.9 -9.2 -1.7 118.5
Total assets 7,968.3 8,046.4 1,476.2 4,769.2 -661.4 21,598.8
Loans and
receivables 7,914.1 7,962.7 1,161.2 827.1 -535.6 17,329.6
Shares and
participations 5.1 3.7 9.9 18.6
Total
liabilities 5,108.7 5,639.3 1,381.6 9,101.3 -562.8 20,668.1
Amounts owed
to credit
institutions
and customers 4,995.3 5,286.5 1,242.7 471.9 -535.6 11,460.8
Share of
results of
associates 0.6 -0.1 0.7 1.2
Depreciation
and
amortisation 2.3 4.8 1.8 10.1 0.0 19.0
Investments 1.3 0.8 0.0 8.8 0.0 10.9
GROUP RESULTS
AND ASSETS AND
LIABILITIES BY
SEGMENT FOR
YEAR ENDED
2005
Corporate and
Private insti-tutional Baltic
EURm customers customers banking Other Elimi-nations Total
Net interest
income 198.4 147.2 36.0 -38.7 0.2 343.0
Impairment on
loans and
receivables 2.6 -6.9 1.4 -0.1 -2.9
Other
operating
income 82.0 131.2 18.9 70.5 -2.5 300.1
Total
operating
income 277.8 285.3 53.4 31.9 -2.3 646.1
Total
operating
expenses 196.7 121.3 39.2 37.6 -1.0 393.7
Profit before
taxes 81.1 164.0 14.2 -5.7 -1.3 252.4
Total assets 8,983.3 8,504.3 1,917.5 4,878.7 -1,076.9 23,206.8
Loans and
receivables 8,934.5 8,425.1 1,673.8 688.1 -808.9 18,912.5
Shares and
participations 5.1 2.7 11.5 19.2
Total
liabilities 5,712.5 6,078.4 1,784.4 9,504.6 -905.3 22,174.6
Amounts owed
to credit
institutions
and customers 5,515.9 5,710.0 1,600.7 318.6 -808.9 12,336.3
Share of
results of
associates 0.6 1.2 1.4 3.1
Depreciation
and
amortisation 4.4 10.2 3.5 21.3 0.0 39.3
Investments 1.3 1.7 4.6 8.4 0.0 16.0
1 NET INTEREST INCOME
1-6/2006 1-6/2005 1-12/2005
Interest income
Loans and receivables 401.9 315.2 665.0
Other interest income 2.8 0.2 3.7
Total 404.7 315.5 668.7
Interest expenses
Amounts owed to credit institutions and
customers -94.3 -68.4 -145.0
Debt securities in issue -130.2 -79.7 -180.5
Other interest expenses -0.1 0.0 -0.1
Total -224.5 -148.2 -325.6
Net interest income 180.2 167.3 343.0
Net interest income in income statement,
total
In net interest income 180.2 167.3 343.0
In net income from financial
transactions 30.2 26.8 54.8
In net income from investments 0.8 0.6 0.4
Total 211.1 194.7 398.3
2 NET INCOME FROM FINANCIAL TRANSACTIONS
1-6/2006 1-6/2005 1-12/2005
Trading assets/liabilities
Debt securities and interest rate
derivatives 27.0 -1.8 29.6
Equity securities and equity derivatives 1.4 0.3 0.7
Other 0.3 0.3 0.6
Total 28.7 -1.2 30.9
Financial assets designated as at fair
value through p/l
Debt securities 0.8 22.9 18.7
Foreign exchange dealing 7.9 7.2 14.2
Net income from hedge accounting
Change in fair value of hedging
derivative instruments -43.4 -16.2 -19.5
Change in fair value of hedged items 43.3 15.6 19.0
Total -0.1 -0.6 -0.5
Net income from financial transactions,
total 37.4 28.4 63.3
3 FEE AND COMMISSION INCOME AND EXPENSES
1-6/2006 1-6/2005 1-12/2005
Fee and commission income
Lending 20.5 20.1 39.2
Borrowing 9.9 9.3 19.5
Payment transactions 28.7 27.4 56.5
Asset management 66.7 3.2 6.4
Investment banking 16.7 - -
Guarantees 8.7 6.1 12.8
Other 18.6 20.9 44.6
Total 169.8 87.0 179.1
Fee and commission expenses -38.3 -11.6 -25.3
Net fee and commission income 131.5 75.3 153.9
4 IMPAIRMENT ON LOANS AND RECEIVABLES
1-6/2006 1-6/2005 1-12/2005
Loans and receivables
Impairment losses -19.7 -9.2 -36.3
Reversal of impairment losses and
recoveries 24.3 16.2 39.2
Impairment on loans and receivables,
total 4.7 7.0 2.9
5 NET INCOME FROM INVESTMENTS
1-6/2006 1-6/2005 1-12/2005
Financial assets
Investment securities held-to-maturity 0.6 0.5 1.2
Financial asset available-for-sale
Debt securities 0.1 0.1 4.2
Equity securities 24.5 20.9 38.9
Total 25.3 21.4 44.3
Other assets 6.3 2.2 3.0
Net income from investments, total 31.6 23.7 47.3
6 STAFF COSTS
1-6/2006 1-6/2005 1-12/2005
Staff costs
Wages and salaries -79.1 -72.7 -143.4
Pension costs -13.5 -10.4 -20.3
Other social security costs -9.5 -9.5 -17.1
Staff costs, total -102.2 -92.6 -180.8
7 FINANCIAL ASSETS
AND LIABILITIES AT
FAIR VALUE THROUGH
P/L
6/2006 6/2006 12/2005 12/2005 6/2005 6/2005
Assets Liabilities Assets Liabilities Assets Liabilities
Assets/liabilities
held for trading 1,434.3 16.8 1,261.8 - 1,440.4 269.5
Derivative
financial
instruments (note
8) 488.3 494.0 506.2 463.7 557.2 581.0
Financial assets
designated as at
fair value through
p/l 626.6 - 641.4 - 695.9 -
Financial assets
and liabilities at
fair value
through p/l, total 2,549.3 510.8 2,409.4 463.7 2,693.5 850.5
8 DERIVATIVE FINANCIAL INSTRUMENTS
6/2006 12/2005
Fair Fair
value value
Contract/ Contract/
Derivatives held notional notional
for trading amount Assets Liabilities amount Assets Liabilities
Interest rate
derivatives 48,159.0 145.6 152.0 40,130.6 173.7 189.9
Foreign,exchange
derivatives 7,425.7 69.2 69.3 8,483.5 97.5 115.0
Equity
derivatives 22.7 4.0 4.3 7.6 2.7 2.7
Other
derivatives 836.9 74.4 73.2 381.8 20.7 19.9
Total
derivatives held
for trading 56,444.4 293.2 298.8 49,003.6 294.7 327.5
Derivatives held
for hedging
Derivatives
designated as
fair value
hedges 4,404.5 195.1 195.1 3,983.6 210.3 136.3
Derivatives
designated as
cash flow hedges 13.0 0.1 - 170.0 1.1 0.0
Total
derivatives held
for hedging 4,417.5 195.1 195.1 4,153.6 211.5 136.3
Total derivative
financial
instruments 60,861.8 488.3 494.0 53,157.2 506.2 463.8
6/2005
Fair value
Contract/
Derivatives held notional
for trading amount Assets Liabilities
Interest rate
derivatives 51,097.1 221.9 259.5
Foreign exchange
derivatives 8,246.9 124.6 147.1
Equity
derivatives 7.1 1.2 1.2
Other
derivatives 219.2 14.1 13.6
Total
derivatives held
for trading 59,570.2 361.9 421.4
Derivatives held
for hedging
Derivatives
designated as
fair value
hedges 2,452.8 191.5 159.6
Derivatives
designated as
cash flow hedges 234.1 3.7 -
Total
derivatives held
for hedging 2,686.9 195.3 159.6
Total derivative
financial
instruments 62,257.1 557.2 581.0
9 LOANS AND RECEIVABLES
6/2006 12/2005 6/2005
Loans and advances to credit institutions
By type of loan
Deposits 392.3 118.6 243.5
Reverse repos 17.0 - 270.0
Other loans 233.6 309.7 203.2
Total 642.8 428.3 716.7
Loans and advances to customers
By type of loan
Home loans 8,913.4 8,157.9 7,114.7
Consumer loans 1,188.5 1,102.6 1,014.8
Other retail loans 1,257.9 1,110.9 927.8
Finance lease assets 846.6 766.2 637.1
Money market loans 15.0 15.0 15.0
Other commercial loans 7,797.1 7,349.2 6,918.6
Allowance for impairment -15.6 -17.7 -14.7
Total 20,002.9 18,484.2 16,613.3
Total loans and receivables 20,645.7 18,912.5 17,330.0
10 INVESTMENTS
6/2006 12/2005 6/2005
Financial assets
Investments held-to-maturity 43.4 45.9 41.7
Financial assets available-for-sale 21.7 13.6 16.6
Total 65.1 59.5 58.3
Other assets
Investment property 0.8 0.8 0.8
Investments in associates 15.5 19.2 18.6
Total 16.3 20.0 19.4
The fair value of the investment property is
EURm 1
11 INTANGIBLE ASSETS
6/2006 12/2005 6/2005
Goodwill 5.5 5.5 5.5
Other intangible assets 64.4 61.0 66.6
Total 69.9 66.5 72.1
12 AMOUNTS OWED TO CREDIT INSTITUTIONS AND
CUSTOMERS
6/2006 12/2005 6/2005
Amounts owed to credit institutions
Deposits from credit insitutions 648.1 664.4 235.3
Other liabilities owed to credit
institutions 376.2 202.2 480.0
Total 1,024.3 866.6 715.3
Amounts owed to customers
Deposits
Demand deposits 2,755.2 2,856.3 2,627.8
Savings accounts 1,278.4 1,074.7 1,030.5
Current accounts 4,763.5 3,715.9 3,363.6
Money market deposits 994.2 1,121.9 1,499.7
Other time deposits 2,494.3 2,673.1 2,200.3
Total deposits 12,285.6 11,441.8 10,721.9
Other liabilities
Other liabilities 30.0 27.9 23.6
Total amounts owed to customers 12,315.6 11,469.7 10,745.5
Total amounts owed to credit institutions
and customers 13,339.9 12,336.3 11,460.8
13 DEBT SECURITIES IN ISSUE
6/2006 12/2005 6/2005
Debt securities in issue
Certificates of deposit 3,271.5 3,383.9 3,498.8
Bonds and notes 5,406.1 4,237.5 3,092.9
Total 8,677.6 7,621.4 6,591.7
Subordinated debt securities
Capital securities 346.2 351.7 234.5
Debentures 599.1 399.2 398.9
Perpetuals 82.6 89.0 86.8
Total 1,028.0 839.9 720.2
Total debt securities in issue 9,705.6 8,461.3 7,311.9
14 CONTINGENT LIABILITIES AND COMMITMENTS
6/2006 12/2005 6/2005
Off-balance sheet items
Guarantees 2,616.9 2,811.2 2,704.6
Undrawn loans, overdraft facilities and other
commitments to lend 4,205.9 4,061.9 4,433.2
- - original maturity less than one year 834.9 641.7 1,069.4
- - original maturity more than one year 3,371.0 3,420.2 3,363.9
Other irrevocable commitments 1.1 4.5 0.8
Total 6,823.8 6,877.6 7,138.6
Assets pledged
as collateral
for liabilities
or contingent
liabilities
6/2006 6/2006 12/2005 12/2005 6/2005 6/2005
Liabilities/ Liabilities/ Liabilities/
Assets pledged Assets commit- Assets commit- Assets commit-
as collateral pledged ments pledged ments pledged ments
Financial
assets at fair
value through
p/l
- - Trading
securities 1,591.5 1,009.2 1,593.2 1,038.4 1,495.9 999.5
Loans and
receivables
- - Security
deposits 1,178.5 1,734.1 1,180.2 1,750.7 101.8 786.8
Total 2,770.0 2,743.4 2,773.4 2,789.1 1,597.7 1,786.4
Non-cancellable
operating
leases 6/2006 12/2005 6/2005
Minimum lease
payments under
non-cancellable
operating
leases
not later than
one year 21.0 21.2 20.1
later than one
year and not
later than five
years 49.9 53.5 51.9
later than five
years 39.8 43.1 46.8
Total 110.6 117.8 118.8
- ---END OF MESSAGE---
Copyright � Hugin ASA 2006. All rights reserved.
Citi Fun 26 (LSE:AS60)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Citi Fun 26 (LSE:AS60)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024
