4069_not-searchable
/en/bank-og-finansmarked/statistikker/finhold/arkiv
4069
Improved annual profits
statistikk
2004-06-11T10:00:00.000Z
Banking and financial markets
en
finhold, Financial holding companies, profit and loss account, balance sheet, utilised loans, securities, bonds, commercial papersFinancial institutions and other financial corporations, Banking and financial markets
false

Financial holding companies, 2003

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Improved annual profits

The annual profit for financial holding companies increased by NOK 797 million in 2003. The increase was caused by decreased taxes.

Taxes were reduced by NOK 823 million from 2002 to 2003. This is the main reason for the improved annual profits. Financial costs have exceeded financial incomes since 1999, but there are signs of improvement. The companies achieved net profit on financial fixed- and current assets and foreign exchange in 2003.

Total assets where reduced by 3per cent. The amount of NOK 3 billion is equivalent to the total assets of four companies that have been shut down or changed sector in 2003. The companies remaining in this sector have had zero-growth in total assets. The decline in the number of companies also affected the impression of changes in equity capital. Equity capital has actually increased for the remaining companies. About 90per cent of the annual profit was transferred to dividend.

The number of financial holding companies came to 8 in 2003.

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