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Fall in loan interest rates continues
statistikk
2013-05-22T10:00:00.000Z
Banking and financial markets
en
orbofrent, Interest rates in banks and other financial enterprises, interest rates, interest on loans, deposit rates, interest margins, banks, mortgage companies, state lending institutions, life insurance companies, Norwegian Public Service Pension FundFinancial institutions and other financial corporations, Banking and financial markets
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Interest rates in banks and other financial enterprises, Q1 2013

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Fall in loan interest rates continues

Interest rates on loans from banks and mortgage companies fell in the first quarter of 2013 after also falling in the four previous quarters. The interest rates on deposits have been stable in this period. The interest rate margin was stable after a significant decline in the previous quarter.

Interest rates and margins from financial corporations. General publicPublished 22 May 2013
1st quarter 20134th quarter 2012
Interest rates including commissions on loans
Banks4.664.68
Mortgage comanies3.593.60
State lending institutions2.522.53
Life insurance companies3.783.86
Financial corporations, total4.074.10
The Norwegian Public Service Pension Fund2.252.25
 
Interest rates on deposits
Banks2.302.31
 
Margins
Banks and mortgage companies. Interest margin2.282.36
Banks. Interest rate margin2.362.37
Banks. Deposits margin-0.38-0.44

Source: Statistics Norway

The loan margins in banks and mortgage companies fell by 0.08 percentage points in the first quarter of 2013 after an increase of 0.07 percentage points in the previous quarter. It should be noted that some revisions were made to the interest rate on loans in the fourth quarter of 2012. The interest rate on loans between banks; NIBOR , increased by 0.05 percentage points in the first quarter of 2013. The deposit margin increased by 0.06 percentage points in the first quarter of 2013 after falling by 0.15 percentage points in the previous quarter. The banks’ interest margin was more or less stable at 2.36 percentage points at the end of the first quarter of 2012 after falling by 0.11 percentage points in the previous quarter.

Fall in loan interest rates continues

The average interest rate on loans from banks and mortgage companies fell by 0.03 percentage points in the first quarter of 2013, to 4.20 per cent. The interest rate was 0.29 percentage points lower compared to the same period in 2012. Banks’ and mortgage companies’ interest rates to households fell by 0.03 percentage points. The interest rate to private non-financial corporations was stable in the first quarter of 2013 after falling by 0.18 percentage points in the previous quarter.

The interest rate on loans from state lending institutions (excluding loans with zero interest rate) increased by 0.02 percentage points to 2.94 per cent in first quarter of 2013. Compared to the same period last year, this is a decline of 0.35 percentage points. The interest rate on loans from the Norwegian Public Service Pension Fund was almost unchanged at 2.25 per cent.

Stable interest rate on bank deposits

The banks’ interest rate on deposits was approximately unchanged at 2.30 in the first quarter of 2013. The interest rate on deposits from private non-financial corporations fell by 0.08 percentage points to 2.01 per cent. The interest rate on deposits from households was more or less stable at 2.41 per cent.

Breakdown of loansOpen and readClose

At the end of the first quarter of 2013, the interest rate statistics include data from 141 banks, 29 mortgage companies, 6 life insurance companies, 3 state lending institutions and the Norwegian Public Service Pension Fund. The shares of total loans from banks, mortgage companies, state lending institutions and life insurance companies were 52, 39, 8 and 1 per cent respectively.