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4527
Mortgage companies’ loans more than tripled
statistikk
2007-09-07T10:00:00.000Z
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
false

Financial corporations, balance sheet, July 2007

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

Content

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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.

Mortgage companies. Loans to employees, pensioners etc. 2003 - 2007

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.

For more information on covered bonds, see the press release s from The Ministry of Finance and from Oslo Børs