Securities broking enterprises (discontinued), 2000

The number of enterprises in 2000 was at the same level as in 1999. The growth in turnover gave an increase of profit in both 1999 and 2000.

Broker commission fell from 1997 to 1999. This tendency was turned around in 2000, with an increase of NOK 615 million to NOK 1 627 million. Income from issues and advisory activity rose by NOK 692 million to NOK 1 869 million. Increased trade of financial assets could be reflected by the increased trade at Oslo Exchange from NOK 446 billion in 1999 to NOK 609 billion in 2000. On the other hand, operating expenses went up by NOK 1 059 million to NOK 3 107 million in 2000. Personnel costs rose by NOK 475 million, representing approximately 50 per cent of the operating expenses.

Due to a rise in the securities market in 1999, the composition of short-term investments changed in favor of shares at the expense of commercial papers and bonds. However, in 2000 the composition changed in favor of bonds. A weaker development in the securities market during 2000 might have triggered the reduction in value of shares for the securities broker enterprises. The value of all short-term investments rose by NOK 798 million to NOK 2 104 million. Total assets increased from NOK 8 007 million in 1999 to NOK 11 848 million in 2000.

The statistics includes only securities broking enterprises who are separate legal entities licensed by the Banking, Insurance and Securities Commission.

Tables:

• Table 1 Security Brokers. Profit and loss account. 31. December 1997-2000. Mill. kroner
• Table 2 Security Brokers. Balance sheet by financial instruments. 31. December 1997-2000. Mill. kroner