This is an archived release.
Mortgage companies’ loans more than tripled
During the last year, the stock of loans from mortgage companies to employees, pensioners etc. more than tripled. The major part of this increase is due to intra-group portfolio movements to prepare for the new legislation on covered bonds.
The mortgage companies loans to employees, pensioners etc. increased from NOK 20 to 68 billion between end July 2006 and end July 2007. The first issue of (mortgage) covered bonds was admitted to listing on Oslo Børs on August 24.
The development in mortgage companies’ loans is, in addition to the previous mentioned portfolio movements, due to exits and entries in the sector. This includes the establishment of Terra Boligkreditt in March 2005, DnB NOR Boligkreditt in August 2005 and Sparebank1 Boligkreditt in June 2006, and the merge of Fokus Kreditt into Fokus Bank in December 2005 and DnB NOR Hypotek’s merger into DnB NOR Bank in November 2006.
The statistics is now published as Banks and mortgage companies.