Financial data

Reconciliation of Alternative Performance Measures            
SEK thousand Q4 2019 Q3 2019 Q2 2019 Q1 2019 Q4 2018 Q3 2018
Interest income 845,642 838,673 833,427 792,842 802,021 779,868
Interest expense -105,000 -105,678 -107,767 -90,465 -87,434 -81,691
Net interest income/expenses Insurance 4,384 3,887 3,633 3,347 2,956 2,666
Net interest income/expenses excl. Insurance 736,258 729,108 722,027 699,030 711,631 695,511
     
Total expenses before credit losses -370,380 -352,723 -360,649 -363,315 -368,521 -348,110
whereof total expenses Insurance -21,027 -24,090 -24,947 -27,217 -24,114 -22,570
Total operating income 944,746 925,311 913,248 895,913 883,366 880,818
whereof total income Insurance 60,312 52,129 53,574 58,718 37,271 49,895
C/I before credit losses, % 39.2% 38.1% 39.5% 40.6% 41.7% 39.5%
             
Total expenses before credit losses, excl. Insurance -349,353 -328,633 -335,702 -336,098 -344,407 -325,540
Total operating Income excl. Insurance 884,434 873,182 859,674 837,195 846,095 830,923
C/I before credit losses (excl. Insurance), % 39.5% 37.6% 39.0% 40.1% 40.7% 39.2%
             
Credit losses, net, excl. Insurance -209,955 -157,038 -147,833 -154,628 -140,117 -139,046
Credit losses yearly, net, excl Insurance -839,820 -628,152 -591,332 -618,512 -560,469 -556,184
Credit loss ratio, excl. Insurance 2.7% 2.0% 2.0% 2.2% 2.0% 2.1%
             
Operating profit/loss 364,411 415,550 404,766 377,970 374,728 393,662
 
Net profit for the period 289,390 320,200 312,844 293,876 283,848 305,687
 
Opening balance Lending to the public, according to IAS 39
Opening balance Lending to the public 31,125,342 30,322,736 29,182,200 27,956,576 27,469,905 26,625,900
Lending to the public, gross 34,223,426 33,995,878 33,068,886 31,797,126 30,544,612 30,175,235
Provision for expected credit losses -2,878,639 -2,870,536 -2,746,151 -2,614,926 -2,588,036 -2,705,330
Lending to the public 31,344,787 31,125,342 30,322,736 29,182,200 27,956,576 27,469,905
Average Lending to the public 31,235,065 30,724,039 29,752,468 28,569,388 27,713,240 27,047,902
             
NBI margin, % 11.3% 11.4% 11.6% 11.7% 12.2% 12.3%
Risk adjusted NBI margin, % 8.6% 9.3% 9.6% 9.6% 10.2% 10.2%
NIM, % 9.4% 9.5% 9.7% 9.8% 10.3% 10.3%
             
Increase Lending to the public, since the beginning of the year 3,388,211 3,168,766 2,366,160 1,225,624 4,308,753 3,822,082
Exchange rate differences 384,545 758,907 734,768 527,145 391,051 877,149
Increase Lending to the public, excl. Exchange rate diff. 3,003,666 2,409,859 1,631,392 698,479 3,917,702 2,944,933
             
SEK thousand Q4 2019 Q3 2019 Q2 2019 Q1 2019 Q4 2018 Q3 2018
Equity 7,141,246 6,937,960 6,627,318 6,693,786 6,348,541 6,468,022
Intangible fixed assets 2,063,405 2,079,577 2,089,941 2,044,818 1,973,681 2,028,646
Equity excl. Intangible fixed assets 5,077,841 4,858,383 4,537,377 4,648,968 4,374,860 4,439,376
 
Dividend (propsed and foreseeable) 420,000 547,500 360,000 570,000 390,000 495,000
Equity excl. Intangible fixed assets excl. Nonrecurring costs, given the Common Equity Tier 1 ratio according to the board's target and deducted dividend from the capital base, %* 3,838,016 3,676,583 3,642,760 3,512,002 3,510,034 3,530,977
             
Shareholder contribution 0 0 0 0 0 0
Average Nonrecurring costs incl. Shareholder contribution 0 0 0 0 0 0
             
Average Equity 7,039,603 6,782,639 6,660,552 6,521,164 6,408,282 6,326,282
Average Intangible fixed assets 2,071,491 2,084,759 2,067,380 2,009,250 2,001,164 2,032,508
Average Equity excl. Intangible fixed assets 4,968,112 4,697,880 4,593,172 4,511,914 4,407,118 4,293,774
Average Equity excl. Intangible fixed assets and Nonrecurring costs and Shareholder contribution 4,968,112 4,697,880 4,593,172 4,511,914 4,407,118 4,293,774
             
Return on equity excl. intangible fixed assets, (RoTE), % 23.3% 27.3% 27.2% 26.1% 25.8% 28.5%
Return on equity excl. intangible fixed assets, (RoTE), excl. Nonrecurring costs, % 23.3% 27.3% 27.2% 26.1% 25.8% 28.5%
         
Return on Equity excl. Intangible fixed assets excl. Nonrecurring costs, given the Common Equity Tier 1 ratio according to the board's target and deducted dividend from the capital base, %* 30.2% 34.8% 34.4% 33.5% 32.3% 34.6%
             
Total Tier 1 capital 4,222,959 4,159,680 4,049,544 3,952,797 3,919,078 3,841,696
Tier 2 capital 5,070,962 4,731,746 4,638,789 4,556,729 4,281,305 4,274,290
Total riskweighted exposure and total capital requirement 31,089,935 30,561,786 30,952,384 30,191,230 29,217,913 27,932,370
Common Equity Tier 1 ratio, % 13.6% 13.6% 13.1% 13.1% 13.4% 13.8%
Adjustment for the Common Equity Tier 1 ratio given the Board's target* 647,616 645,075 490,020 480,806 559,018 350,150
             
             
SEK thousand 31 Dec 2018-
31 Dec 2019
30 Sep 2018-
30 Sep 2019
30 Jun 2018-
30 Jun 2019
31 Mar 2018-
31 Mar 2019
31 Dec 2017-
31 Dec 2018
30 Sep 2017-
30 Sep 2018
             
Increase Lending to the public, year on year 3,388,211 3,655,437 3,696,836 4,048,166 3,887,781 4,251,489
Exchange rate differences 384,545 200,822 -20,199 163,260 399,872 863,931
Increase Lending to the public, year on year, excl. Exchange rate differences 3,003,666 3,454,615 3,717,035 3,884,906 3,487,909 3,387,558
             
             
*During Q4 2018, the financial target for the Common Equity Tier reduced from above 12.5% to above 11.5%.