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Steady growth in savings scheme for youths
statistikk
2013-02-08T10:00:00.000Z
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
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Financial corporations, balance sheet, December 2012

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

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Steady growth in savings scheme for youths

Deposits in the scheme known as Home investment savings with tax deduction for young people (BSU) is still an attractive type of deposit. At the end of December 2012, BSU deposits amounted to NOK 26.8 billion. This is an increase of NOK 3.7 billion compared to December 2011.

Balance sheet, selected figures. NOK millionPublished 8 February 2013
December 2011December 2012December 2011 - December 2012
Banks
Bank total assets3 950 5444 047 1092.4
Deposits2 641 4702 694 2522.0
Loans2 679 2202 713 4821.3
Mortgage companies
Bank total assets1 615 7731 713 3806
Loans1 320 5481 464 23010.9

Source: Statistics Norway

The twelve-month growth in BSU deposits was 16.0 per cent at end-December 2012. This is a decrease of 0.2 percentage points compared to December 2011. The twelve-month growth has been stable since the regulations for BSU deposits were revised in 2009. From November 2012 to December 2012, BSU deposits increased by nearly NOK 2 billion. This is equivalent to a monthly increase of 7.9 per cent. More than half of BSU deposits in 2012 were placed in December 2012. This is in line with the seasonal pattern for these types of deposits. It may be affected by the fact that savings in BSU accounts give tax benefits to the account holder. In addition, all tax-related adjustments are usually made at the end of the tax year.

Growth in bank deposits without agreed maturity for employees in Norway

At end-December 2012, the total bank deposits of employees in Norway amounted to NOK 838 billion. This is an increase of NOK 65 billion, or 8.4 per cent compared to December 2011. At the end of December 2012, the twelve-month growth in bank deposits without agreed maturity was 10.5 per cent, while the twelve-month growth rate for deposits with agreed maturity was only 0.9 per cent. At the end of December 2012, 80.2 per cent of bank deposits of employees in Norway were placed in deposits without agreed maturity, and the corresponding figure for deposits with agreed maturity was just 19.8 per cent.