Securities broking enterprises. Profit and loss account. Per 31. December. Million kroner

Securities broking enterprises
1	Securities broking enterprises. Profit and loss account. Per 31. December. Million kroner¹

	1998	1999	2000	2001	2002



Operating income	2 344	3 516	5 209	3 924	3 285
Broker commissions equityinstruments	1 128	1 012	1 627	1 091	881
Net trade equityinstruments	86	201	150	104	170
Broker commissions debtinstruments	5	2	1	0	6
Net trade debtinstruments	40	42	39	68	62
Net income marketmaking	36	261	113	47	22
Trade with other financial instruments	14	11	74	2	27
Other broker commissions (gains)	7	11	17	6	5
Income from issues and advisory activity	672	1 177	1 869	1 340	827
Management of securities	134	432	800	865	794
Other income from investments	19	54	374	335	359
Capital management	49	32	33	5	2
Other operating income	154	280	111	62	130

Operating expenses	1 628	2 048	3 107	3 305	2 963
Personel costs	1 039	1 057	1 532	1 609	1 393
Deprecations etc.	44	76	110	277	193
Operating expenses premises	9	45	13	33	22
Other broker commissions (losses)	47	39	68	34	29
Loss on claims	91	17	41	57	47
Capital management	5	2	7	2	5
Other operating expenses	393	812	1 336	1 293	1 274

Operating profit	716	1 469	2 102	619	322

Investment income/charges	-189	-335	-324	-49	-54
Income from participations and subsidiaries²	6	16	82	4	8
Share dividend	..	11	3	1	1
Interest income³	121	162	281	328	355
Interest charges⁴	9	77	169	176	241
Net gains and value adjustments	..	-11	-2	-20	-16
Net other investment income/charges⁵	-307	-437	-519	-187	-161

Profit/loss on ordinary activities	527	1 134	1 779	570	268

Extraordinary income	0	8	11	74	9
Extraordinary expenses	180	165	216	156	118

Tax	118	323	494	202	115

Profit/loss	229	654	1 080	286	43

Application and transfers	229	654	1 080	286	43
Dividends	183	392	616	688	297
Submitted/received group contributions	140	275	316	130	-40
Transfered to/from revaluation reserve	..	6	4	2	-11
Transfered to/from other equity	-94	-19	144	-534	-204

¹Numbers as from 1999 are not comparable with earlier numbers due to a new law for accounting from 01.01.1999.
²Before 1999 this item included debt to customers.
³Up to 1999, this item included dividends from other than participations.
⁴Before 1999 the item is equal to investments charges to participations.
⁵Before 1999 are interest charges to other than participations and net gains and value adjustments also included in this item.