This is an archived release.
Further increase in industry loans
Total loans from Norwegian banks and mortgage companies to Norwegian industries increased by NOK 6 billion from September to October. With the exception of July, there has been an increase in industry loans in all months of 2010 so far.
At the end of October, industry loans from Norwegian banks and mortgage companies amounted to NOK 1 181 billion. This is an increase of NOK 6 billion from the previous month. Compared to October last year, the industry loans have increased by almost NOK 58 billion, or 5 per cent. With the exception of July, industry loans have increased in every month of 2010 so far. Of the total industry loans from Norwegian banks and mortgage companies, banks constitute the largest share with 87 per cent, while mortgage companies constitute the remaining 13 per cent. These shares have remained relatively stable over time, but the mortgage companies have increased their share to some extent in the last couple of years. One reason for this is that banks move their industry loans to mortgage companies which specialise in these types of loans.
|12-month growth||12-month growth in per cent||Monthly growth||Monthly growth in per cent||Share of total industry loans|
|Fishing and hunting||-252||-1.18||-369||-1.72||1.8|
|Fish farming industries||269||2.13||912||7.60||1.1|
|Mining and quarrying||648||33.93||-57||-2.18||0.2|
|Services linked to extraction of crude petroleum and natural gas||-5 197||-21.50||-327||-1.69||1.6|
|Extraction of crude petroleum and natural gas||1 414||85.54||-98||-3.10||0.3|
|Ship and boat building||-3 701||-29.03||-1 074||-10.61||0.8|
|Electricity and hot water supply||7 291||26.45||1 968||5.98||3.0|
|Water supply, drainage and waste disposal||48||0.67||49||0.68||0.6|
|Real estate development||878||1.53||967||1.69||4.9|
|Building and construction work||6 251||24.02||609||1.92||2.7|
|Commodity trade etc.||3 870||6.09||1 705||2.59||5.7|
|Sea transport abroad and transport via pipelines||16 031||15.67||3 208||2.79||10.0|
|Transportation and storage||5 989||15.66||-239||-0.54||3.7|
|Hotels and restaurants||-1 003||-7.79||48||0.41||1.0|
|Information and communication||-547||-3.78||361||2.66||1.2|
|Real estate, renting and business activities||12 657||2.83||-826||-0.18||39.0|
|Professional and financial services||10 755||12.46||-651||-0.67||8.2|
|Businesslike services||3 545||13.07||-530||-1.70||2.6|
|Other service activities||2 244||6.42||295||0.80||3.1|
Decrease in loans to real estate, renting and business activities
Loans to real estate, renting and business activities is by far the largest industry, constituting a total of 39 per cent of the total industry loans. Loans to this industry fell by almost NOK 1 billion from September to October 2010. The decrease followed two months of increase in these loans of NOK 4.8 and NOK 1.3 billion respectively. Taking the last year as a whole, however, loans to real estate, renting and business activities have increased by NOK 12.6 billion, or 2.8 per cent.
Growth in loans to shipping again
The second largest industry, sea transport abroad and transport via pipelines, more popularly called shipping, accounted for 10 per cent of the total industry loans at the end of October 2010. This is an increase of 2 percentage points from May this year. Since the end of May there has been a slow growth in loans to the shipping industry. In June and August these loans increased by NOK 1.7 and NOK 1.3 billion respectively, while in July and September loans to this industry fell by NOK 2.4 and NOK 4.8 billion respectively. In October loans to the shipping industry increased again, by NOK 3.2 billion, or almost 3 per cent, which is the highest monthly growth since May. Compared to the equivalent period last year, these loans have increased by NOK 16 billion, or almost 16 per cent.
Largest decrease in loans to ship and boat building
Loans to the ship and boat building industry fell by over NOK 1 billion, or 10.6 per cent from September to October 2010. This is by far the largest monthly decrease both absolutely and relatively in any of the industries we collect statistics for. Also on a yearly basis, loans to ship and boat building have the largest decrease of all the industries. Loans to this industry decreased by over NOK 5 billion, or 29 per cent, from October 2009 to October this year. Loans to ship and boat building amounted to NOK 9 billion at the end of October 2010; just 0.77 per cent of the total industry loans.
New industry classification
The industry classification in the financial statistics changed in May 2009, as Statistics Norway introduced a new version of the Norwegian industry classification, SIC2007 . The change in industry classification gives a more detailed classification and enables us to better analyse the development in important industries. However, the change also made comparisons of industrial loans before and after May 2009 difficult for some of the industries.
The statistics is now published as Banks and mortgage companies.