Merchant Banking

Full Year
SEK m201520142013201220112010200920082007
Net interest income7,9998,3157,3566,9667,1397,3287,9097,4145,610
Net fee and commission income5,8916,1695,4984,8964,9085,2755,5585,2485,945
Net financial income3,9622,8173,6013,6834,0023,3664,2163,6252,613
Net life insurance income000
Net other income515808274292617322216526839
Total operating income18,36718,10916,72915,83716,66616,29117,89916,81315,007
Staff costs-3,715-3,654-3,703-3,945-3,926-3,959-3,382-3,890-4,246
Other expenses-4,787-4,624-4,456-4,465-4,771-4,649-4,185-3,594-3,489
Depreciation of assets-108-126-148-182-227-170-155-95-85
Total operating expenses-8,610-8,404-8,307-8,592-8,924-8,778-7,722-7,579-7,820
Profit before credit losses etc9,7579,7058,4227,2457,7427,51310,1779,2347,187
Gains less losses from assets1-13-18-6-120-252
Net credit losses -299-604-233-130-260-203-903-889-326
Operating profit9,4599,0888,1717,1097,4817,3309,2728,3506,863
Cost/Income ratio-0.47-0.46-0.50-0.54-0.54-0.54-0.43-0.45-0.52
Business equity, SEK bn60.952.348.836.726.128.235.127.026.4
Return on business equity, %12.013.380038240912.894087509014.347906723020.641195631374.740308019176.077948717989.0774.87

Quarter201520142013201220112010200920082007
SEK mQ4Q3Q2Q1Q4Q3Q2Q1Q4Q3Q2Q1Q4Q3Q2Q1Q4Q3Q2Q1Q4Q3Q2Q1Q4Q3Q2Q1Q4Q3Q2Q1Q4Q3Q2Q1
Net interest income2,0402,0191,8702 0702,0052,0732,2182,0191,9621,8621,8011,7311,6971,6761,7881,8051,9361,7921,7811,6301,9661,8521,7281,7821,8002,0532,0372,0192,6131,7381,5381,5251,4981,4071,3771,328
Net fee and commission income1,4001,1942,0111,2861,8111,2011,7521,4051,3691,5351,5621,0321,3611,1151,2701,1501,2891,2521,2251,1421,5031,2811,4121,0791,5071,3041,5951,1521,1631,3741,4701,2411,3611,3641,6591,561
Net financial income1,1139836391,2274416237859681,0347129618948377861,0739879001,0209981,0846076851,2428326497921,2851,4901,813757936119249311,1691,164
Net life insurance income00000
Net other income2351328563102642101-3786169181-16127711102372111343515544398421381144334177664219441118351
Total operating income4,7884,3284,6054,6464,3594,5394,8564,3554,4514,2784,3423,6583,8793,7044,2024,0524,3624,2754,1383,8914,2313,8624,4213,7773,9774,1875,0314,7045,9303,9464,0102,9273,3023,2134,3884,104
Staff costs-915-921-947-932-922-911-929-892-934-919-935-915-997-950-980-1,018-876-988-998-1,064-1,084-843-1,076-956-531-742-1,068-1,041-954-867-1,105-964-1,055-921-1,172-1,098
Other expenses-1,160-1,199-1,233-1,195-1,149-1,165-1,156-1,154-1,127-1,112-1,122-1,095-1,117-1,098-1,125-1,125-1,199-1,132-1,251-1,189-1,230-1,066-1,203-1,150-1,038-1,020-1,093-1,034-918-830-937-909-868-887-877-857
Depreciation of assets-25-37-23-23-33-30-31-32-36-36-42-34-58-42-41-41-80-46-49-52-63-40-39-28-61-35-34-25-30-22-21-22-26-19-17-23
Total operating expenses-2,100-2,157-2,203-2,150-2,104-2,106-2,116-2,078-2,097-2,067-2,099-2,044-2,172-2,090-2,146-2,184-2,155-2,166-2,298-2,305-2,377-1,949-2,318-2,134-1,630-1,797-2,195-2,100-1,902-1,719-2,063-1,895-1,949-1,827-2,066-1,978
Profit before credit losses etc2,6882,1712,4022,4962,2552,4332,7402,2772,3542,2112,2431,6141,7071,6142,0561,8682,2072,1091,8401,5861,8541,9132,1031,6432,3472,3902,8362,6044,0282,2271,9471,0321,3531,3862,3222,126
Gains less losses from assets1-1-12-17-10-6-2-23231-1-3-201132
Net credit losses -90-90-26-93-86-322-144-52-50-99-59-25-1-18-30-81-92-53-66-49-99-2626-104-74-122-425-282-592-249-21-27-69-33-115-109
Operating profit2,5982,0812,3772,4032,1682,1112,5842,2252,2872,1112,1841,5891,7061,5962,0201,7872,1132,0561,7721,5401,7781,8882,1281,5362,2712,2682,4112,3223,4371,9791,9261,0081,2861,3532,2072,017
Cost/Income ratio0.440.500.480.460.480.460.440.480.470.480.480.560.560.560.510.540.490.510.560.590.560.500.520.560.410.430.440.450.320.440.510.650.590.570.470.48
Business equity, SEK bn58.860.862.261.652.453.552.750.747.550.249.348.536.336.336.636.626.826.725.724.925.727.728.929.035.135.135.135.127.027.027.027.026.426.426.426.4
Return on business equity, %13.610.511.812.012.712.215.113.514.813.013.710.113.913.016.314.422.722.219.817.819.919.621.215.318.618.619.819.136.721.120.510.813.113.824.122.0