4577_not-searchable
/en/bank-og-finansmarked/statistikker/orbofrk/kvartal
4577
Banks post strong quarterly results
statistikk
2007-08-24T10:00:00.000Z
Banking and financial markets
en
orbofrk, Financial corporations, accounts, banks, mortgage companies, finance companies, state lending institutions, period result, profit and loss accountFinancial institutions and other financial corporations, Banking and financial markets
false

Financial corporations, accounts, Q2 2007

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

Content

Published:

This is an archived release.

Go to latest release

Banks post strong quarterly results

Preliminary figures show that Norwegian banks achieved net interest income on a high level and strong results in the second quarter of 2007, although net losses on loans are larger than zero for the first time in more than two years.

Banks. Net interest income, losses and profit and loss. Q4 2001-Q2 2007.

Net interest income in the second quarter of 2007 reached a substantial NOK 9.9 billion. This is an increase of NOK 0.4 billion compared to the all-time high of the fourth quarter of 2006 and the first quarter of 2007. In the same period of 2006, net interest income was NOK 9.3 billion. The increase in net interest income may indicate that the banks have had gains on the increase in interest rates in the last quarters. The interest rate statistics which will be published on 31 August, might have more information concerning this.

Second quarter profits amounted to NOK 5.5 billion. This is an increase of NOK 0.2 billion from the first quarter of 2007. Compared to the equivalent quarter last year, second quarter profits have increased by NOK 0.7 billion. As in the two preceding quarters, the high net interest income and large net gains on securities and currency are the main contributors to the strong results.

Banks. Net interest earnings, losses and profit and loss.
Q4 2004-Q2 2007. NOK Million
 
  Net interest earnings Losses on loans etc Profit and loss for the financial period
 
Q4 2004 8 193  276 3 974
Q1 2005 8 042  179 4 036
Q2 2005 7 822 -773 4 918
Q3 2005 8 384 -396 4 988
Q4 2005 8 824 -220 5 700
Q1 2006 8 333 -319 5 065
Q2 2006 9 313 -136 4 799
Q3 2006 9 181 -531 5 007
Q4 2006 9 504 -418 7 161
Q1 2007 9 506 0 5 358
Q2 2007 9 915  116 5 536
 

Positive net losses on loans

Net write-back of losses has been a considerable contributor to the banks’ profit for the last two years. In the second quarter of 2007 however, net losses on loans were positive for the first time since the first quarter of 2005. The net losses are relatively small, NOK 100 million, and thus has not had a profound effect on the banks’ results this quarter.

Fourth quarter figures are now based on final financial statements.

 

Tables

Published tables