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213895
Weaker results in Norwegian banks
statistikk
2015-11-18T10:00:00.000Z
Banking and financial markets
en
orbofrk, Financial corporations, accounts, banks, mortgage companies, finance companies, state lending institutions, period result, profit and loss accountFinancial institutions and other financial corporations, Banking and financial markets
true

Financial corporations, accountsQ3 2015

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

Content

Published:

Weaker results in Norwegian banks

Norwegian banks’ accumulated pre-tax profit at the end of the 3rd quarter of 2015 was NOK 35.1 billion. This is a decrease compared to the same period last year, when the pre-tax profit was NOK 37.6 billion

Quarterly profit and loss accounts, selected figures. NOK million (cumulative)
3rd quarter 20153rd quarter 2014
Banks
Net interest income47 98043 561
Loss on loans2 4574 374
Pre-tax profit35 06737 610
Mortgage companies
Net interest income12 06114 851
Loss on loans3577
Pre-tax profit11 649325

As a share of average total assets, accumulated profit before tax was 0.74 per cent after the 3rd quarter of 2015, which is a decrease from 0.88 per cent by the end of the 3rd quarter of 2014.

Lower net gains on securities and currency

Norwegian banks' net gains on securities and currency were NOK 0.8 billion after the 3rd quarter of 2015, which is NOK 5.8 billion less than the same period last year. The low net gains were due to a loss on treasury bills, government bonds and other securities of NOK 4.6 billion, which was barely offset by a net gain on currency and other financial assets and liabilities of NOK 5.4 billion.

Increased net interest income

The net interest income, the difference between the gross interest rate income and gross interest rate expenses, amounted to NOK 48.0 billion by the end of the 3rd quarter this year, which is NOK 4.4 billion higher than the same period last year. The increase is mainly due to lower interest expenses. Net interest income as a share of average total assets was 1.01 per cent after the 3rd quarter of 2015; approximately the same as by the end of the 3rd quarter of 2014.

Good results for mortgage companies

Norwegian mortgage companies’ pre-tax profit was NOK 11.6 billion at the end of the 3rd quarter of 2015; an increase from NOK 0.3 billion compared to the same period last year. The pre-tax profit at the end of the 3rd quarter of 2015 amounted to 0.6 per cent of average total assets.

The strong result was mainly due to a positive trend in net gains on securities and currency of NOK 4.9 billion. Compared to last year, the mortgage companies had a net loss of securities and currency of NOK 7.3 billion.

The net interest income for mortgage companies amounted to NOK 12.1 billion by the end of the 3rd quarter this year, which is a decrease from NOK 14.9 billion by the end of the 3rd quarter last year.