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High growth in housing loans
statistikk
2013-03-08T10:00:00.000Z
Banking and financial markets
en
orbofbm, Financial corporations, balance sheet, banks, mortgage companies, finance companies, state lending institutions, loans, deposits, financing, mortgages, bonds, commercial papers, shares, ownership interest, assets, liabilities, foreign banks, borrowers, balancesFinancial institutions and other financial corporations, Banking and financial markets
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Financial corporations, balance sheet, January 2013

As from 2016 the statistics is published with Banks and mortgage companies.

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High growth in housing loans

Loans secured on dwellings from banks and mortgage companies to employees grew by 9.2 per cent from January 2012 to January 2013. The share of credit lines secured on dwellings in relation to total housing loans continues to fall, and is now at its lowest level since 2009.

Balance sheet, selected figures. NOK millionPublished 8 March 2013
January 2012January 2013January 2012 - January 2013
Banks
Bank total assets3 977 6084 012 8040.9
Deposits2 631 5382 672 6441.6
Loans2 749 9062 806 2892.1
Mortgage companies
Bank total assets1 619 1981 722 5486
Loans1 341 5351 470 9709.6

Source: Statistics Norway

At end-January 2013, loans secured on dwellings from banks and mortgage companies to Norwegian employees, pensioners and students amounted to NOK 1 757 billion. This is an increase of NOK 148 billion compared to January 2012.

Total loans from banks and mortgage companies to employees in Norway amounted to NOK 1 902 billion at end-January 2013. Thus, 92.4 per cent of these loans were secured on dwellings.

Falling share of credit lines secured on dwellings

Loans secured on dwellings can be divided into credit lines and repayment loans. At the end of January, repayment loans and credit lines constituted 74.7 and 25.3 per cent respectively of total housing loans to employees. From January 2012 to January 2013, the share of credit lines secured on dwellings decreased by 2.1 percentage points. The share of credit lines secured on dwellings in relation to total housing loans to employees in banks and mortgage companies is now at its lowest level since November 2009. The share of credit lines secured on dwellings peaked in September 2011, constituting 27.8 per cent of total housing loans.

From January 2012 to January 2013, credit lines secured on dwellings from banks and mortgage companies to employees increased by a modest 0.9 per cent and amounted to NOK 445 billion at end-January. The twelve-month growth of 0.9 per cent is the lowest rate ever measured for credit lines.

At the end of January 2013, repayment loans secured on dwellings from banks and mortgage companies to employees amounted to NOK 1 312 billion. This is an increase of NOK 143 billion, or 12.3 per cent, compared to the end of January 2012.

Mortgage companies leading in housing loans

At the end of January, loans secured on dwellings from mortgage companies to employees amounted to NOK 973 billion. This is an increase of NOK 135 billion, or 16.2 per cent, compared to January 2012. Loans secured on dwellings from banks to employees amounted to NOK 784 billion at the end of January 2013, up 1.6 per cent compared to the same period last year.

The mortgage companies’ loans to employees surpassed the banks’ housing loans in September 2011. As a result, the mortgage companies’ share of total housing loans exceeded the banks’ share in the past twelve-month period. Transfers of loan portfolios from banks to mortgage companies have contributed to this trend.