4045_not-searchable
/en/bank-og-finansmarked/statistikker/vpforetak/aar
4045
Improved result for security brokers
statistikk
2004-10-14T10:00:00.000Z
Banking and financial markets;Banking and financial markets
en
vpforetak, Securities broking enterprises (discontinued)Securities markets , Financial institutions and other financial corporations, Banking and financial markets
false

Securities broking enterprises (discontinued), 2003

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Improved result for security brokers

The securities broking enterprises experienced an increase in profit from 2002 to 2003. The increase came to NOK 515 million, which was caused mainly by an increase in operating income.

Most of the income to securities broking enterprises comes from trade on financial instruments. Profit from securities broking enterprises is then influenced by conditions in securities market. The trade at the Oslo Stock Exchange increased from NOK 444 billion in 2002 to NOK 553 billion in 2003.

13 percent increase in operating income

The operating income increased from NOK 3 285 million in 2002 to NOK 3 727 million in 2003. In the same period, operating expenses declined by NOK 129 million to NOK 2 834 million. Broker commission and income from issues and advisory activity are the main income sources, NOK 911 million and NOK 837 million in 2003 respectively . Personnel costs are the largest operating expense. These costs increased by NOK 108 million to NOK 1 393 million.

Increased holdings of short-term investments

In 2003 the holdings of bonds rose by 161 per cent to NOK 73 million. At the same time the holdings of commercial papers rose by 28 per cent to NOK 213 million. The value of all short-term investments increased from NOK 397 million in 2002 to NOK 426 million in 2003. Total assets were NOK 13.2 billion in 2003.

The statistics includes only securities broking enterprises that are separate legal entities licensed by the Financial Supervisory Authority of Norway.