This is an archived release.
Growth in industry loans
After a decline in February, total loans from Norwegian banks and mortgage companies to Norwegian industries increased by NOK 5.3 billion from February to March.
At the end of March, industry loans from Norwegian banks and mortgage companies amounted to NOK 1 186 billion. This is an increase of more than NOK 5 billion from the previous month. Compared to March last year, the industry loans have increased by NOK 54 billion, or 4.8 per cent. With the exception of February 2011 and December 2010, industry loans have increased in every month since July 2010. Of the total industry loans from Norwegian banks and mortgage companies, banks constitute the largest share with 86 per cent, while mortgage companies constitute the remaining 14 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||-804||-3.63||-84||-0.39||1.8|
|Fish farming industries||705||6.43||-264||-2.21||1.0|
|Mining and quarrying||549||27.13||47||1.87||0.2|
|Services linked to extraction of crude petroleum and natural gas||-4 832||-26.43||-874||-6.10||1.1|
|Extraction of crude petroleum and natural gas||970||66.04||211||9.48||0.2|
|Ship and boat building||-4 700||-41.98||-220||-3.28||0.6|
|Electricity and hot water supply||668||2.04||-1 613||-4.61||2.8|
|Water supply, drainage and waste disposal||565||7.68||-99||-1.23||0.7|
|Real estate development||4 875||8.91||1 033||1.76||5.0|
|Building and construction work||5 823||22.22||-441||-1.36||2.7|
|Commodity trade etc.||3 558||5.49||1 498||2.24||5.8|
|Sea transport abroad and transport via pipelines||7 573||6.73||1 080||0.91||10.1|
|Transportation and storage||6 627||16.45||1 526||3.36||4.0|
|Hotels and restaurants||306||2.69||-399||-3.31||1.0|
|Information and communication||-1 231||-9.28||-1 042||-7.97||1.0|
|Real estate, renting and business activities||16 269||3.57||2 580||0.55||39.8|
|Professional and financial services||9 219||10.92||583||0.63||7.9|
|Businesslike services||4 413||14.79||786||2.35||2.9|
|Other service activities||3 868||11.37||-240||-0.63||3.2|
Increase in loans to real estate, renting and business activities
Loans to real estate, renting and business activities amounted to NOK 472 billion at the end of March. This is by far the largest industry, constituting a total of 40 per cent of the total industry loans. Loans to this industry went up by NOK 2.6 billion from February to March 2011. This is the highest monthly growth since November last year, when these loans increased by NOK 6.1 billion. Taking the last year as a whole, loans to real estate, renting and business activities have increased by more than NOK 16 billion, or 3.6 per cent.
Minor increase in loans to shipping
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 March 2011. Loans to this industry amounted to NOK 120 billion. In the last couple of months the growth has been negative or just slightly positive. In December 2010 and January 2011 these loans fell by NOK 1.8 and NOK 1.4 billion respectively, while there has been a positive, yet slow growth in February and March. Loans to shipping went up by NOK 1 billion, or 0.9 per cent in March. Compared to the equivalent period last year, these loans have increased by NOK 7.6 billion, or 6.7 per cent.
Largest growth in loans to extraction of crude petroleum and natural gas
Loans to extraction of crude petroleum and natural gas went up by NOK 0.2 billion, or 9.5 per cent from February to March 2011. This is by far the largest monthly percentage increase in any of the industries we collect statistics for. From March 2010 to March this year, loans to this industry increased by close to NOK 1 billion, or 66 per cent. However; loans to extraction of crude petroleum and natural gas amounted only to a modest NOK 2.4 billion at the end of March 2011; which is only 0.2 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.