2. Justificación
4.2. Marco conceptual
4.2.2. Dimensiones del clima organizacional
Parent Bank Group
2011 2012 Amounts in NOK million 2012 2011
-64 94 Change in individual write-downs for impaired value during the period 97 -68 24 -40 Change in collective write-downs for impaired value during the period -40 26 144 141 Confirmed losses against which individual write-downs for impaired value
was previously made 144 151
1 40 Confirmed losses against which no individual write-downs for impaired value
was previously made 5 1
-8 -11 Payments received on loans, guarantees etc. previously written down -11 -9
97 224 Total losses on loans and guarantees 195 101
Individual write-downs for impaired value
258 193 Individual write-downs for impaired value on loans and guarantees as at 01.01. 208 273 144 141 - Confirmed losses during the period on loans and guarantees against
which individual write-downs for impaired value were previously made 144 150
24 22 - Reversal of previous years’ impaired value 24 24
13 4 + Increase in individual write-downs for impaired value of commitments against
which individual write-downs for impaired value were previously made 9 17 90 253 + Individual write-downs for impaired value of commitments where no allowance
were raised in previous years 254 92
193 287 = Individual write-downs for impaired value on loans and guarantees as at 31.12. 303 208 Individual write-downs for impaired value of guarantees, parent bank NOK 0.2 million, and group NOK 0.2 mill, are included in the balance sheet as at 31.12.12 under liabilities. Accordingly the amount in 2011 was NOK 2 mill.
Collective write-downs for impaired value
192 213 Collective write-downs for impaired value on loans and guarantees as at 01.01. 226 200 21 -31 + Collective write-downs for impaired value on loans and guarantees in the period -28 26 213 182 = Collective write-downs for impaired value on loans and guarantees as at 31.12. 198 226
Losses broken down by sector and industry 2011 2012 2012 2011 Propor- tion of losses Loss Propor- tion of losses Loss Propor- tion of losses Loss Propor- tion of losses Loss
0 % 1 Mining and quarrying 0 % -1 0 % 0
4 % 4 1 % 3 Construction 2 % 4 3 % 6
0 % 1 Building of ships and boats 0 % 1 0 % 0
Electricity, gas, steam an air conditioning supply 0 % 1 0 % 0 2 % 4 Professional, scientific and technical activities 2 % 4 0 % 0
15 % 35 Finanicial and insurance activities 0 % -1 0 % 0
0 % -1 Fishing 0 % 0 0 % 0
0 % 1 Marine aquaculture 0 % 1 0 % 0
-1 % -3 Other business support activities 0 % -1 0 % 0
-1 % -1 Activities auxiliary to financial services and
insurance activities 0 % -1
County muncipalities and muncipalities 0 % 0
1 % 1 2 % 4 Manufacturing 1 % 3 0 % 1
1 % 2 Information and communication 1 % 2 0 % 0
9 % 9 2 % 4 Crop and animal production 2 % 4 4 % 9
Foreign industrial 0 % 0
20 % 21 41 % 96 Real estate activities 47 % 96 10 % 21
5 % 5 Accomodation and food service activities 2 % 5
Forestry and logging 0 % 0
Central government and social security funds 0 % 0
Support activities for petroleum and natural gas extraction 0 % 0
11 % 12 0 % -1 Other service industries 0 % 1 6 % 12
-1 % -1 -1 % -2 Transportation and storage 0 % -1 0 % -1
10 % 10 4 % 10 International shipping and pipeline transport 5 % 10 5 % 10
21 % 49 Development of building projects 24 % 49 0 % 0
-1 % -3 Extraction of crude oil and natural gas -1 % -3 0 % 0
Unspecified 0 % 0
17 % 40 Water supply; sewerage, waste management and
remediation activities 19 % 39 0 % 0
2 % 2 -1 % -2 Wholesale and retail trade; repair of motor vehicles
and motorcycles 0 % -1 1 % 2
21 % 22 -1 % -3 Retail banking market 0 % -1 11 % 23
30 % 32 Collective write-downs for impaired value - corporate market 16 % 33 -10 % -11 Collective write-downs for impaired value - retail banking market -5 % -11
Collective write-downs for impaired value
(losses on repossessed properties) 0 % 0
100 % 105 100 % 235 Losses on loans to customers 100 % 206 100 % 109
notE 14 - writE-down For iMpairEd valuE oF loan and advancEs
Net non-performing and impaired commitments - Parent Bank
31.12.12 31.12.11 31.12.10 31.12.09 31.12.08
Non-performing commitments, not impaired 357 452 475 541 422
Impaired 586 322 361 194 272
Non-performing and impaired commitments 943 774 836 735 694
Individual write-downs for impaired value 104 88 129 184 141
Interest on reversal of discounted impairment of value 183 105 129 36 52
Total individual write-downs 287 193 258 220 193
Net non-performing and impaired commitments 656 581 578 515 501
2012 2011 2010 2009 2008
Interest on written-down loans, included in Income * 56 50 46 36 55
Net non-performing and impaired commitments - Group
31.12.12 31.12.11 31.12.10 31.12.09 31.12.08
Non-performing commitments, not impaired 397 471 492 575 453
Impaired 592 338 378 228 303
Non-performing and impaired commitments 989 809 870 803 756
Individual write-downs for impaired value 120 96 137 190 146
Interest on reversal of discounted impairment of value 183 112 136 42 57
Total individual write-downs 303 208 273 232 203
Net non-performing and impaired commitments 686 601 597 571 553
2012 2011 2010 2009 2008
Interest on written-down loans, included in Income * 56 50 46 36 55
* Ordinary effective interest income, reduced by the amortising effect of interest related to individual write-downs, has been included in Income. Corresponding inclusion of income has been applied in the case of loans involving collective related write-downs, calculated at an average, effective rate of interest.
notE 15 - MarkEt risk rElatEd to intErEst ratE risk
This note is a sensitivity analysis conducted based on relevant balance sheet items as at 31.12.12 and in the future. The bank’s interest rate risk is calculated by simulating a parallel interest rate shift of 1% for the entire interest rate curve.
Value changes are calculated for all the items in the balance sheet when the market risk linked to the interest rate risk is measured. The interest rate risk has been low throughout 2012 and within the overall limit of NOK 60 million established by the bank’s Executive Board. The market risk linked to the interest rate risk has a limited effect on the bank’s profit performance due to the low exposure.
Parent Bank Group
Sensitivity to net interest cost Amounts in NOK million Sensitivity to net interest cost
31.12.11 31.12.12 31.12.12 31.12.11
Valuta
-10.50 5.00 NOK +200 5.00 -10.50
-1.00 -1.40 Valuta +200 -1.40 -1.00
notE 16 - MarkEt risk rElating to ForEign ExcHangE risk
The currency risk is measured as the net currency exposure for each individual currency in which the long and short positions are set off. The currency risk has been low throughout the
year and within the overall limits established by the bank’s
Executive Board.
Parent Bank Group
Net foreign exchange exposure Net foreign exchange exposure
2011 2012 Amounts in NOK million 2012 2011
Currency 0.1 6.5 EUR 6.5 0.1 30.5 29.7 USD 29.7 30.5 178.5 195.1 DKK 195.1 178.5 161.5 179.0 RUB 179.0 161.5 1.8 -0.2 Miscellaneous -0.2 1.8 372.4 410.1 Total 410.1 372.4
50 50 Total foreign exchange limits 50 50
40 40 Total per currency 40 40
SpareBank 1 Nord-Norge enters into hedging contracts with respected Norwegian and foreign banks in order to reduce its own risk.
Financial derivatives transactions are related to ordinary banking operations and are done in order to reduce the risk relating to the Bank’s funding loans from the financial markets, and in order
to cover and reduce risk relating to customer-related activities. Only hedging transactions relating to the Bank’s funding loan operations are defined as ‘fair value hedging’ in accordance with IFRS standard IAS 39. Other hedging transactions are defined as ordinary accounts-related hedging. The Bank does not use cash flow hedging.
Fair value hedges 31.12.12 31.12.11
Net losses recognised related to hedging instruments for fair value hedging were: 266 -61
Total gains on hedged items related to the hedged risk were: -267 61
Total, fair value hedges -1 0
The Bank’s main Board of Directors has determined limits for maximum risk for the Bank’s interest rate positions. Routines have been established to ensure that positions are maintained within these limits.
notE 17 - Financial dErivativEs
Currency- and interest rate contracts consist of
Interest rate swaps
• Commitments to exchange one set of cash flow for another over an agreed period. Foreign exchange derivatives
• Agreements to buy or sell a fixed amount of currency at an agreed future date at a rate of exchange which has been agreed in advance.
Currency swaps
• Agreements relating to the swapping of currency- and interest rate terms and conditions, periods and amounts having been agreed in advance.
Interest rate- and currency swap agreements
• Agreements involving the swapping of currency- and interest rate terms and conditions, periods and amounts having been agreed in advance.
Options
• Agreements where the seller gives the buyer a right, but not an obligation to either sell or buy a financial instrument or currency at an agreed date or before, and at an agreed amount.
general description
Foreign currency-
and interest rate instruments 2012 2011
Amounts in NOK million Contract/notional
amount Fair value Contract/notional amount Fair value Assets Liabilites Assets Liabilites
Fair value through profit and loss account
Foreign currency instruments Foreign exchange financial derivatives
(forwards) 1 679 39 6 2 936 43 25
Currency swaps 4 996 140 68 5 708 178 74
Currency options
Total, non-standardised contracts 6 675 179 74 8 644 221 99
Standardised foreign currency contracts (futures)
Total, foreign currency instruments 6 675 179 74 8 644 221 99
Foreign currency-
and interest rate instruments 2012 2011
Amounts in NOK million Contract/notional
amount Fair value Contract/notional amount Fair value Assets Liabilites Assets Liabilites
Fair value through profit and loss account
Interest rate instruments Interest rate swaps
(including cross currency) 23 275 453 617 19 363 282 389
Short-term interest rate swaps (FRA)
Other interest rate contracts 1 811 8 7 4 211 3 6
Total, non-standardised contracts 25 086 461 624 23 574 285 395
Standardised interest rate contracts (futures)
Total, interest rate instruments 25 086 461 624 23 574 285 395
Securing of funding
Interest rate instruments Interest rate swaps
(including cross currency) 8 318 593 15 9 125 344 25
Short-term interest rate swaps (FRA) Other interest rate contracts
Total, non-standardised contracts 8 318 593 15 9 125 344 25
Standardised interest rate contracts (futures)
Total, interest rate instruments 8 318 593 15 9 125 344 25
Total foreign currency- and interest rate instruments
Total, interest rate instruments 33 404 1 054 639 32 699 629 420
Total currency swaps and forwards 6 675 179 *
74 8 644 221 99
Total 40 079 1 234 713 41 343 850 519
* The parent bank includes NOK 6 million for the subsidiary SpareBank 1 Finans that has been eliminated in the group balance sheet.