Key figures

(Amounts in NOK 1 000 000)	January - June 2023	January - June 2022	2022
RESULTS
Net interest income	1 015	913	1 866
Core earnings¹	640	591	1 081
Profit after tax	669	(429)	(60)
Cost/income ratio (per cent)²	14.4%	14.9%	15.8%
Return on equity after tax³	7.5%	(5.6%)	(0.8%)
Return on equity after tax (core earnings)⁴	7.8%	7.1%	6.6%
Return on assets after tax⁵	0.3%	(0.2%)	0.0%
LOANS TO CUSTOMERS
New disbursements	21 370	14 194	39 261
Aggregate loans to customers⁶	335 516	316 708	328 401
12 month lending growth in percent⁷	5.9%	(0.5%)	1.7%
Green loans to customers⁸	44 127	36 003	41 421
Share of green loans in lending protfolio	13.2%	11.4%	13.3%
Share of municipalities with green loans⁹	38.8%	36.9%	38.0%
LIQUIDITY PORTFOLIO⁶	123 558	107 642	109 959
DEBT SECURITIES ISSUED
New long-term debt securities issued	32 894	47 474	86 994
Aggregate debt securities issued⁶	460 430	430 562	429 206
TOTAL ASSETS	515 604	495 546	492 450
EQUITY
Equity	20 557	18 100	18 903
Common equity Tier 1 capital adequacy ratio	18.6%	17.6%	19.0%
Leverage ratio	4.0%	3.7%	3.9%
LIQUIDITY COVERAGE RATIO (LCR)¹⁰
Total	256%	318%	261%
NOK	106%	65%	95%
EUR	191%	198%	441%
USD	131%	266%	242%
AUD	721%	122%	1 078%
GBP	291%	Infinite	1 958%
OTHER KEY FIGURES
Market share excl. Husbanken¹¹	50.0 %	49.5 %	49.7 %
Percentage of women employed in KBN	41%	45%	43%
Emissions in CO₂ tons equivalents¹²	50.3	37.7	79.7

Footnotes

¹Profit after tax adjusted for Net unrealised gain/(loss) on financial instruments adjusted for estimated tax at 25% tax rate, and adjusted for Portion allocated to owners of additional Tier 1 capital. This result measure is included to give relevant information about the company's underlying operations.

² Operating expenses as a percentage of sum Net interest income and Total other operating income adjusted for Net unrealised gain (loss) on financial instruments.

³ Share of the Profit for the year allocated to shareholders as a percentage of average equity (annualized). Average equity is calculated based on monthly equity, not including Profit for the year, less dividends from the time the dividends are paid out, as well as addition or reduction of the company's share capital during the year.

⁴ Core earnings as a percentage of average equity (annualized).

⁵ Share of Profit for the year allocated to shareholders as a percentage of average assets (annualized). Average assets are calculated based on monthly assets.

⁶ Principal amounts.

⁷ 12-month lending growth based on total lending (principal amounts).

⁸ Aggregate green loans to customers financed by green bonds. In addition, the bank has a smaller portfolio of green loans to customers that were given before or that does not qualify after the criteria in Green bond framework published in 2016. These loans are no longer financed with green bonds. Total aggregate green loans to customers are NOK 46.1 billion.

⁹ Percentage of municipalities in KBN’s lending portfolio with green loans.

¹⁰Liquidity coverage ratio (LCR) is a measure for the regulatory liquidity reserve. LCR is defined as liquid assets as a percentage of net payments in a given stress period of 30 days.

¹¹ KBN’s market share based on sector code 6500. Lending from Husbanken is not included as KBN does not compete for these loans.

¹² KBN’s calculated emissions. See Greenhouse gas accounting.

See also the overview and description of alternative performance measures published on kbn.com