168440
statistikk
2014-11-19T10:00:00.000Z
Banking and financial markets
en
orbofrk, Financial corporations, accounts, banks, mortgage companies, finance companies, state lending institutions, period result, profit and loss accountFinancial institutions , Banking and financial markets
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Financial corporations, accountsQ3 2014

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Increased net interest income for banks

The Norwegian banks’ net profit before tax was NOK 12.3 billion in the 3rd quarter of 2014. This is an increase of NOK 1.6 billion compared to the corresponding quarter last year. Positive net interest income contributed to the result.

Quarterly profit and loss accounts, selected figures. NOK million (cumulative)
3rd quarter 2014 3rd quarter 2013
Banks
Net interest income 43 560 40 800
Loss on loans 4 268 3 638
Pre-tax profit 37 723 30 791
Mortgage companies
Net interest income 14 851 14 540
Loss on loans 77 147
Pre-tax profit 325 1 419
Figure 1. Banks. Net interest income, pre-tax profit, net gain on securities and currency and losses on loans. Quarterly results
Figure 2. Banks. Profit and loss before tax as share of total assets. Quarterly results
Figure 1. Banks. Net interest income, pre-tax profit, net gain on securities and currency and losses on loans. Quarterly resultsFigure 2. Banks. Profit and loss before tax as share of total assets. Quarterly results

Compared to the previous quarter, the result fell by NOK 0.2 billion. At the end of the 3rd quarter of 2014, Norwegian banks’ accumulated pre-tax profit amounted to NOK 37.7 billion. For comparison, the accumulated pre-tax profit was NOK 30.8 billion by the end of the same quarter last year.

The pre-tax profit as a share of total assets was 0.29 per cent in the 3rd quarter this year. This share is the same as in the 2nd quarter but an increase of 0.26 per cent from the 3rd quarter of 2013.

Net interest income makes a positive contribution to the result

Norwegian banks’ net interest income was NOK 15.2 billion in the 3rd quarter this year. Costs associated with interest fell more than interest income and the net interest income increased from NOK 14.5 billion the previous quarter.

The interest income amounted to NOK 32.4 billion; an increase of NOK 0.4 billion compared to the same quarter last year. The interest costs fell from NOK 18.0 billion to NOK 17.2 billion from the 3rd quarter last year to the 3rd quarter this year, thus contributing to the increase in the net interest income of NOK 1.2 billion during this period.

The net interest income as a share of total assets was 0.36 per cent; an increase from 0.35 per cent in the 3rd quarter last year.

Positive quarterly results for mortgage companies

The Norwegian mortgage companies’ quarterly pre-tax profit was nearly NOK 0.9 billion in the 3rd quarter this year; an increase from NOK -0.2 billion in the previous quarter and a decrease from NOK 1.6 billion compared to the same period last year.

The net interest income amounted to NOK 5.0 billion in the 3rd quarter this year. This is an increase from NOK 4.8 billion in the previous quarter and a decrease from NOK 5.7 billion in the 3rd quarter last year.

As a share of total assets, the pre-tax profit and net interest income were 0.05 and 0.28 per cent respectively, compared to 0.09 and 0.33 per cent in the same quarter last year.