Securities broking enterprises (discontinued), 2004

The majority of the income in securities broking enterprises comes from trade in financial instruments. The profit figures are therefore affected by the activity in the securities market. The trade at the Oslo Stock Exchange increased by 64 per cent from NOK 553 billion to NOK 907 billion from 2003 to 2004.

38 per cent increase in operating income

The operating income increased from NOK 3 727 million in 2003 to NOK 5 158 million in 2004. In the same period, operating expenses increased by NOK 399 million to NOK 3 233 million. The main sources of income were management of securities and income from issues and advisory activities, at NOK 1 289 million and NOK 1 311 million respectively. Personnel costs was the largest operating expense, and increased by NOK 134 million to NOK 1 635 million in 2004.

Larger stock of shares and primary capital certificates

In 2004, the stock of shares and primary capital certificates increased by 200 per cent to NOK 965 million, mainly due to the high return in the securities market. The stock of bonds increased by 64 per cent to NOK 120 million. At the same time, the stock of certificates increased by 49 per cent to NOK 318 million. There was a decline in total assets of 23 per cent to NOK 10 247 million from 2003 to 2004.

The statistics only include securities broking enterprises that are separate legal entities with a licence from the Financial Supervisory Authority of Norway.