Komplett Bank Annual Report 2020

Note 7 Specification of debt NOK million 31.12.2020 31.12.2019 The Bank's other debt consist of Payables to suppliers 27.5 39.0 Remaining other debt: Social secutity tax 8.8 5.3 Other liablilities 106.3 105.2 Total other debt 142.5 149.5 The Bank's subordinated loans consist of Subordinated loans (ISIN NO0010757768) 3 months NIBOR + 5.0% interest margin 65.0 64.9 Total subordinated loans 65.0 64.9 Reconciliation of subordinated loans Opening balance 64.9 64.7 Amortisation of transaction costs/change NIBOR interest rate recognised against "interest expenses" 0.1 0.1 Closing balance 65.0 64.9 Reconciliation of senior unsecured bond Opening balance - 399.8 Paid unsecured bond - 400.0 Amortisation of transaction costs/change NIBOR interest rate recognised against "interest expenses" - 0.3 Closing balance - - The subordinated loan matures 23. February 2026 with the first opportunity for call first time 23. February 2021 and thereafter on each date of interest payment (each quarter). The next date for payment of interest rat is 23 May 2021. The subordinated loan was refinanced on 23. February 2021 with same conditions as the existing subordinated loan. As at 31 December 2020 and 31 December 2019, the Bank had no unused overdraft facilities or other drawing rights. The Bank’s senior unsecured bond was in its entirety paid back in 2019 in accordance with the term in the bond agreement. All deposits from the Bank’s customers come from private individuals. The Bank’s average (weighted) offered interest rate in 2020 was 1.72 per cent (1.96 per cent for 2019) for Norwegian deposit customers and 0.44 per cent for German deposit customers (0.59 per cent for 2019). The product was launched in Sweden in Q1 2020 and average (weighted) interest rate in 2020 was 0.90 per cent. The calculation is based on actual interest costs and average deposit balances per month. Interest rates for deposits and loans are variable. As at 31 December 2020, the Bank did not offer fixed-interest deposits to Norwegian customers, but offered one and year fixed rates to German deposit customers. Deposits from German customers was NOK 2,359.2 million as at 31 December 2020 (2,540.4 million as at 31 December 2019). 88 Notes to the financial statements