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92686
Lower growth rate in housing loans
statistikk
2013-05-10T10:00:00.000Z
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, March 2013

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

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Lower growth rate in housing loans

During the past twelve months to the end of March 2013, loans secured on dwellings from banks and mortgage companies to employees grew by 8.5 per cent. This is a drop in the twelve-month growth rate of 0.3 percentage points compared to the end of February 2012.

Balance sheet, selected figuresPublished 10 May 2013
March 2012March 2013March 2012 - March 2013
Banks
Bank total assets4 029 5973 924 729-2.6
Deposits2 697 7572 617 474-3.0
Loans2 643 0242 734 1873.4
Mortgage companies
Bank total assets1 633 4301 724 9936
Loans1 376 1451 478 8027.5

Source: Statistics Norway

Between March 2007 and March 2013, the twelve-month growth in housing loans reached its lowest point at the end of August 2010, when it was 6.5 per cent. Thereafter, there was a gradual growth in housing loans until a peak of 10 per cent at the end of August 2012. Since August 2012, the growth has fallen to 8.5 per cent at the end of March 2013.

Loans secured on dwellings from Norwegian banks and mortgage companies to Norwegian employees, social security recipients, students etc. amounted to NOK 1 774 billion at the end of March 2013. This is an increase of 0.5 per cent, or NOK 8.2 billion compared to the previous month.

Total loans to employees etc. from Norwegian banks, mortgage companies and finance companies amounted to NOK 1 959 billion at the end of March 2013. Loans secured on dwellings amounted to 91 per cent of the employees’ total loans from these three financial sectors.

Repayment loans increase more than credit lines

Employees’ housing loans consist of repayment loans secured on dwellings and credit lines secured on dwellings . At the end of March 2013, 75 per cent of the employees’ housing loans from Norwegian banks and mortgage companies were repayment loans secured on dwellings.

Repayment loans secured on dwellings from Norwegian banks and mortgage companies to employees amounted to NOK 1 330 billion at the end of March 2013. This implies an increase of about NOK 135 billion, or 11.3 per cent, compared to the end of March 2012.

Credit lines secured on dwellings from Norwegian banks and mortgage companies to employees amounted to NOK 444 billion at the end of March 2013. This is an increase of about NOK 4 billion compared to the end of March 2012, and implies a twelve-month growth of 0.9 per cent.

Decline in loans not secured on dwellings

Employees’ loans not secured on dwellings partly consist of credit card debt, consumer credit, overdraft facilities on deposits and car loans with collateral in the purchased item. The interest rate for these loans is normally higher than for loans secured on dwellings. From December 2009 to October 2011, employees’ loans not secured on dwellings from Norwegian banks, mortgage companies and finance companies increased from NOK 169 billion to NOK 203 billion. After October 2011, employees’ loans not secured on dwellings gradually fell, and totalled NOK 184 billion at the end of March 2013. From March 2012 to March 2013 these loans decreased by NOK 5.2 billion, or 2.7 per cent.