Financial Stability 1/2004

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Annex 1: Statistics

Table 1 Structure of the Norwegian financial industry. As at 31 December 2003

	Number	Lending (NOK bn)	Total assets. (NOK bn)	Core capital ratio (%)	Capital adequacy (%)
Banks (excl. foreign subsidiaries in Norway)	143	1136.9	1539.5	9.7	12.4
Branches of foreign banks	8	59.9	184.1
Mortgage companies	11	210.5	321.1	9.6	12.2
Finance companies	50	90.5	97.4	9.4	10.9
Life insurance companies	13	20.6	480.3	10.1	15.0
Non-life insurance companies	46	1.3	106.7
Memorandum:			(Mrd. kr.)
Market value of equities, Oslo Stock Exchange			689.7
Outstanding domestic bonds and short-term paper debt			662.0
Issued by public sector and state-owned companies			322.5
Issued by banks			199.2
Issued by other financial institutions			72.2
Issued by other private enterprises			46.9
Issued by non-residents			21.3
GDP Norway, 2003			1570.3
GDP Mainland Norway, 2003			1247.3

Sources: Norges Bank, Oslo Stock Exchange and Statistics Norway

Table 2 Results in Norwegian banks¹⁾ in selected quarters²⁾

	2003 Q1		2003 Q2		2003 Q3		2003 Q4		20043 Q1
	NOK bn	% ATA	NOK bn	% ATA	NOK bn	% ATA	NOK bn	% ATA	NOK bn	% ATA
Net interest income	7.89	1.96	8.10	1.95	8.22	1.94	7.62	1.76	7.63	1.74
Other operating income	2.63	0.65	3.50	0.84	3.24	0.76	5.32	1.23	3.78	0.86
commission income	1.82	0.45	1.90	0.46	2.16	0.51	2.32	0.54	2.25	0.51
securities, foreign exchange and deriv.	0.57	0.14	1.34	0.32	0.84	0.19	2.63	0.61	1.18	0.27
Other operating expenses	6.60	1.64	6.69	1.61	6.51	1.54	7.51	1.74	7.45	1.70
personnel expenses	3.56	0.89	3.56	0.86	3.50	0.83	3.91	0.91	3.70	0.84
Pre-tax operating profit	3.92	0.98	4.91	1.18	4.95	1.17	5.43	1.26	3.96	0.90
Losses on loans and guarantees	1.76	0.44	2.22	0.54	1.65	0.39	1.51	0.35	0.60	0.14
Pre-tax operating profit	2.14	0.53	2.86	0.69	3.25	0.77	4.13	0.96	4.59	1.04
Profit after taxes	1.60	0.40	2.38	0.57	2.44	0.58	3.32	0.77	3.98	0.90
Capital adequacy (%)	12.35		11.93		12.04		12.36		12.04
Tier 1 capital ratio (%)	9.48		9.34		9.38		9.71		9.34

Source: Norges Bank

Table 3 Results in Norwegian banks¹⁾

	1999		2000		2001		2002		2003
	NOK bn	% ATA	NOK bn	% ATA	NOK bn	% ATA	NOK bn	% ATA	NOK bn	% ATA
Net interest income	26.63	2.34	27.76	2.18	29.65	2.09	32.42	2.13	31.83	1.90
Other operating income	11.89	1.05	13.30	1.05	13.46	0.95	10.30	0.68	14.69	0.88
commission income	6.39	0.56	7.55	0.59	7.43	0.52	7.54	0.50	8.20	0.49
securities, foreign exchange and deriv.	4.52	0.40	4.75	0.37	3.85	0.27	1.46	0.10	5.38	0.32
Other operating expenses	23.70	2.08	24.82	1.95	26.32	1.86	26.92	1.77	27.31	1.63
personnel expenses	12.91	1.14	12.91	1.02	13.88	0.98	14.01	0.92	14.54	0.87
Operating result before losses	14.82	1.30	16.24	1.28	16.79	1.18	15.80	1.04	19.21	1.15
Losses on loans and guarantees	1.22	0.11	1.95	0.15	4.09	0.29	6.97	0.46	7.15	0.43
Pre-tax operating profit	14.27	1.26	16.90	1.33	12.62	0.89	8.96	0.59	12.38	0.74
Result after tax	11.68	1.03	13.20	1.04	11.33	0.80	6.11	0.40	9.74	0.58
Capital adequacy (%)	12.02		12.12		12.59		12.15		12.36
Tier 1 capital ratio (%)	9.31		9.13		9.69		9.60		9.71

Source: Norges Bank

Table 4 Banks¹⁾ losses on loans²⁾ to various industries in sectors as percentages of lending to the respective industries and sectors

Industry / sector	1997	1998	1999	2000	2001	2002	2003
Agriculture, forestry, fishing	-0.06	0.19	0.29	0.26	0.21	2.73	6.11
Fish-farming, hatcheries	0.40	-0.14	1.25	0.12	0.16	8.05	22.59
Extraction of crude petroleum and natural gas	-1.29	-0.08	0.06	0.40	0.08	1.84	1.83
Manufacturing and mining	0.56	0.54	0.64	0.60	0.97	1.65	1.69
Electricity and water supply, construction	-0.13	0.15	0.41	0.69	0.21	0.46	1.64
Construction	-0.23	0.18	0.68	1.13	0.42	0.50	2.40
Retail trade, hotels and restaurants	0.13	0.26	0.56	0.61	0.80	0.90	0.95
Wholesaling and agency business	0.11	0.27	0.36	0.27	1.05	0.71	0.66
Retail trade	0.08	0.27	0.82	1.39	1.05	0.50	0.86
Hotels and restaurants	0.02	0.23	0.60	0.50	0.74	0.55	1.11
Shipping and pipeline transport	0.44	0.31	0.22	0.76	1.43	0.76	0.48
Shipping	0.48	0.26	0.19	0.26	0.18	0.68	0.39
Other transport and communications	-0.16	0.19	0.39	0.37	1.13	1.23	0.66
Commercial services and property management	-0.16	0.07	0.09	0.08	0.37	1.51	0.50
Property management	-0.15	0.04	0.08	0.02	0.12	0.68	0.23
Other service industries	-0.10	0.07	0.02	0.81	0.54	1.22	1.59
Total corporate sector	0.02	0.19	0.27	0.41	0.61	1.44	1.48
Household sector	-0.06	-0.01	-0.01	0.00	0.06	0.12	0.06
Others3)	0.04	0.67	0.02	0.21	0.30	0.26	0.15
Total lending	-0.02	0.16	0.11	0.19	0.31	0.63	0.57

Source: Norges Bank

Table 5 Total assets in Norwegian financial conglomerates by line of business¹⁾ at 31 December 2003. Per cent

		Banks	Finance companies	Mortgage companies	Life insurance	Total conglomerate
DnB NOR		76.3	5.4	2.0	16.4	100.0
Nordea Norge		82.2	1.8	7.2	8.7	100.0
Sparebank 1 alliance		93.0	1.5	0.0	5.5	100.0
Storebrand		17.2	0.0	0.0	82.8	100.0
Terra alliance		99.7	0.3	0.0	0.0	100.0
Fokus Bank		67.7	0.0	32.3	0.0	100.0

Source: Norges Bank

Table 6 Norwegian financial conglomerates' market shares¹⁾ in various lines of businessat 31 December 2003. Per cent

		Banks	Finance companies	Mortgage companies	Life insurance	Total conglomerate
DnB NOR		40.7	50.8	5.7	32.7	35.3
Nordea Norge		13.9	5.5	6.5	5.5	11.2
Sparebank 1 alliance		11.4	3.3	0.0	2.5	8.1
Storebrand		1.4	0.0	0.0	25.9	5.5
Terra alliance		6.7	0.4	0.0	0.0	4.4
Fokus Bank		3.2	0.0	8.2	0.0	3.1
Sum finanskonsern		77.2	59.9	20.4	66.7	67.7

Source: Norges Bank