Komplett Bank Annual Report 2020

COST PERCENTAGE NOK million 2020 2019 Total operating expenses excluding losses on loans 1) 387.6 441.7 ‘- Direct marketing expenses 1) -7.4 -84.0 = Total operating expenses excluding losses on loans and direct marketing expenses 380.2 357.7 NOK million 2020 2019 Net interest income 1) 1,027.1 1,087.0 + Net commissions and fees 1) 61.8 86.8 = Net interest income and commissions and fees 1,088.8 1,173.8 Cost percentage 2020: 364.9 / 1,088.8 = 33.5% Cost percentage 2019: 357.7 / 1,173.8 = 30.5% 1) The basis for the calculation can be read directly from the statement of profit or loss and other comprehensive income for the period 2020. LOSS PERCENTAGE/LOSS RATIO NOK million 31.12.2020 31.12.2019 2020 Average Losses on loan I/A I/A 364.3 I/A Loans to customer 8,361.2 8,495.8 I/A 8,428.5 Loss percentage 2020: 364.3 /8,428.5 = 4.3% Loss percentage 2019: 454.3 /8,170.0 = 5.6% Losses on loans can be found directly from the statement of profit or loss and other comprehensive income for the period 2020. Loans to customer can be found in the balance sheet. ADJUSTED RETURN OF EQUITY NOK million 2020 2019 Profit after tax 262.8 202.9 + One-off cost related to losses on loans, after tax 30.0 78.4 + One-off cost related to money laundering fee, after tax - 18.0 = Adjusted profit after tax 292.8 299.2 NOK million 31.12.2020 31.12.2019 Average Equity 2,059.0 1,805.0 1,932.0 + Adjusted one-off cost, after tax 30.0 78.4 I/A + Adjusted for one-off cost, money laundering fee, after tax I/A 18.0 I/A = Adjusted equity 2,089.0 1,901.4 1,995.2 ROE adjusted 2020: 292.8/ 1,995.2 = 14.7% ROE adjusted 2019 : 299.2/1,738.3 = 17.2% Tier 1 capital to be subtracted from total equity in the balance sheet. Profit after tax can be found in the profit and loss. 110 Notes to the financial statements