Key figures

(Amounts in NOK 1 000 000)	January - September 2023	January - September 2022	2022
RESULTS
Net interest income	1 572	1 387	1 866
Core earnings¹	938	840	1 081
Profit after tax	866	(283)	(60)
Cost/income ratio (per cent)²	15.1%	15.3%	15.8%
Return on equity after tax³	6.3%	(2.7%)	(0.8%)
Return on equity after tax (core earnings)⁴	7.6%	6.8%	6.6%
Return on assets after tax⁵	0.2%	(0.1%)	0.0%
LOANS TO CUSTOMERS
New disbursements	32 186	24 064	39 261
Aggregate loans to customers⁶	341 150	322 617	328 401
12 month lending growth in percent⁷	5.7%	2.6%	1.7%
Green loans to customers⁸	46 556	39 112	41 421
Share of green loans in lending protfolio	13.6%	12.1%	13.3%
Share of municipalities with green loans⁹	39.1%	36.9%	38.0%
LIQUIDITY PORTFOLIO⁶	129 261	111 749	109 959
DEBT SECURITIES ISSUED
New long-term debt securities issued	62 771	53 544	86 994
Aggregate debt securities issued⁶	467 286	452 838	429 206
TOTAL ASSETS	527 969	528 522	492 450
EQUITY
Equity	20 671	18 576	18 903
Common equity Tier 1 capital adequacy ratio	18.2%	17.9%	19.0%
Leverage ratio	4.0%	3.7%	3.9%
LIQUIDITY COVERAGE RATIO (LCR)¹⁰
Total	283%	545%	261%
NOK	95%	105%	95%
EUR	121%	901%	441%
USD	175%	410%	242%
AUD	26 525%	2 024%	1 078%
GBP	Infinite	Infinite	1 958%
OTHER KEY FIGURES
Market share excl. Husbanken¹¹	50.4 %	42.7 %	49.7 %
Percentage of women employed in KBN	38%	43%	43%
Emissions in CO₂ tons equivalents¹²	71.93	52.5	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 48.5 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