Securities broking enterprises (discontinued), 2001

Most of the income to securities broking enterprises comes from trade of financial instruments. Profit from securities broking enterprises is therefore influenced by conditions in securities market. The trade at Oslo Børs fell from NOK 609 billion in 2000 to NOK 566 billion in 2001.

Operating income down 25 per cent, but expenses increased

Operating income for the securities broking enterprises went down from NOK 5 209 million in 2000 to NOK 3 895 million in 2001. In the same period, operating expenses rose by NOK 180 million to NOK 3 287 million. Broker commission and income from issues and advisory activity are the main income sources for securities broking enterprises, which were NOK 1 091 million and NOK 1 313 million respectively in 2001. Personnel costs are the largest operating expense. It rose by NOK 74 million to NOK 1 605 million.

Reduced holdings of short-term investments

Securities broking enterprises will normally expand their holdings of bonds when there is a fall in the stock market. But in 2001 it was reduced by approximately 50 per cent compared with 2000. The value of all short-term investments dropped from NOK 2 104 million in 2000 to NOK 1 680 million in 2001. Total assets were NOK 10.4 billion in 2001.

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

Tables:

• Table 1 Security Brokers. Profit and loss account. 31 December 1997-2001. Million kroner
• Table 2 Security Brokers. Balance sheet by financial instruments. 31 December 1997-2001. Million kroner