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4689
Banks increase loans from abroad
statistikk
2000-12-21T10:00:00.000Z
Banking and financial markets
en
finansinst, Financial institutions (discontinued), banks, credit institutions, financial enterprises, Central Bank of Norway, state lending institutions, insurance companies, lending, financial instruments (for example shares, bonds, commerical papers)Financial institutions and other financial corporations, Banking and financial markets
false

Financial institutions (discontinued), Q3 2000

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Banks increase loans from abroad

Norwegian commercial and saving banks increase their loans from abroad. Lending from abroad went up by 13 per cent in the third quarter of 2000. The large increase must be seen in connection with the high Norwegian interest rate and increased demand for loans from the Norwegian public.

Norwegian banks increased their lending from abroad by 13 per cent during the third quarter of 2000. Banks lending from abroad went up by 45 per cent from the end of the third quarter of 1999 to the end of the third quarter of 2000. This means that total lending from abroad equals NOK 164 billion. The strong growth has to be seen in connection with the substantial difference in the interest rate between Norway and abroad.

Preliminary third-quarter figures by the Central Bank of Norway show an increase in the interest rate for banks of 0.7 percentage point. This means the average interest rate on loans at the end of September 2000 equals 8.5 per cent. The interest rate is 0.7 percentage point higher than one year before.

Norwegian financial institutions lending to the general public (defined as municipalities, households and non-financial corporations) went up by 3 per cent in the third quarter of 2000. This means that total lending from financial institutions to the general public equals NOK 1315 billion. Banks showed the greatest growth in lending of 4 per cent. Finance and mortgage companies had an increase of 2 per cent, while insurance companies continued reducing their lending growth.

From the end of the third quarter of 1999 to the end of the third quarter of 2000 lending to the public went up by 13 per cent or NOK 154 billion. Finance companies had the greatest lending growth, with 42 per cent. Bank lending also surged, by 15 per cent. State lending institutions and insurance companies showed a decline of 10 and 16 per cent, respectively. The strong growth noted by finance companies and decrease for state lending institutions are largely a result of the fact that a state lending institution was converted into a mortgage company, which was thus included in the mortgage company lending figures as of the first quarter this year.

Total assets and total lending to the public from financial institutions.
3. quarter 1999 - 3. quarter 2000. Billion kroner
  3. qu. 1999 4. qu. 1999 1. qu. 2000 2. qu. 2000 3. qu. 2000
  Assets Lending Assets Lending Assets Lending Assets Lending Assets Lending
Total 2 445 1 159 2 586 1 189 2 726 1 221 2 805 1 271 3 025 1 314
Central bank of Norway 420 1 505 1 537 1 584 1 705 1
Banks 1 184 804 1 198 820 1 262 845 1 289 887 1 365 924
State lending institutions 207 186 206 190 176 162 176 164 179 166
Finance companies 210 139 213 152 268 189 275 194 288 198
Insurance copmanies 424 29 464 26 482 25 480 25 487 25

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