Komplett Bank annual report 2019

IMPAIRMENT OF CLASS 1 AND 2 OF LOANS (BALANCE SHEET ITEM) NOK million 31.12.2019 31.12.2018 Impairment of loans at beginning of period 202.8 11.0 Change in impairments recognised against equity due to implementation of IFRS 9 - 157.8 +/- Change in impairment on class 1 and class 2 of loans to customers in the period 113.7 34.1 Impairment on class 1 and 2 of loans to customers 316.5 202.8 The Bank has for extensive parts of 2018 and 2019 been part of an agreement with Axactor to continuously transfer defaulted loans to customers in a forward flow agreement. The agreement included Norwegian consumer loans and credit card loans. The agreement expired November 2019. In 2019 there has been transferred gross loans to customers of NOK 776 million to Axactor (NOK 453 million in 2018). The bank has recognised a positive effect in losses on loans due to the transfer of loans to customers. 100% of loans to customers is to private customer as at 31 December 2019 (100% as at 31 December 2018). The Bank has not issued any guarantees as at 31 December 2019 (none as at 31 December 2018). Of the Bank’s financial assets, only loans to customers have, in the opinion of the Bank, been impaired and consequently, no impairments have been recognised for other financial assets. RECONCILIATION OF LOSSES ON LOANS NOK million 31.12.2019 31.12.2018 +/- Change in class 3 impairment of loans in the period 224.8 144.9 +/- Change in impairment on class 1 and 2 of loans to customers in the period 113.7 34.1 Realized losses in the period 115.8 70.1 Losses on loans 454.3 249.0 AGEING OF LOANS TO CUSTOMERS NOK million 31.12.2019 31.12.2018 Loans not past due 6,055.7 5,891.3 Past due 1 - 30 days 1,321.2 1,065.5 Past due 31 - 60 days 449.4 352.3 Past due 61 - 90 days 196.8 196.8 Past due 91+ days 1,282.8 810.2 Total gross loans to customers 9,305.9 8,316.0 AGEING OF LOANS IN PRECENTAGE OF TOTALT GROSS LOANS TO CUSTOMERS NOK million 31.12.2019 31.12.2018 Loans not past due 65% 71% Past due 1 - 30 days 14% 13% Past due 31 - 60 days 5% 4% Past due 61 - 90 days 2% 2% Past due 91+ days 14% 10% Total 100% 100% 48 Notes to the financial statements