Banks and mortgage companies in Norway have witnessed a notable increase in deposits from households, reflecting positive trends in the country’s financial sector. According to the latest data released on 2 June 2023, the total amount of household deposits reached 1,620,662 million NOK in April 2023.
The figures, compiled by the Norwegian Financial Supervisory Authority, highlight the strong performance of the banking industry. In March 2023, loans to households from banks amounted to 1,657,112 million NOK, rising to 1,671,425 million NOK in April 2023. Furthermore, loans to the manufacturing industry also saw a positive trajectory, increasing from 95,532 million NOK in March 2023 to 100,415 million NOK in April 2023.
Additionally, mortgage companies experienced steady growth during the same period. Loans to households extended by mortgage companies amounted to 2,022,105 million NOK in March 2023 and slightly decreased to 2,015,108 million NOK in April 2023. Loans to the manufacturing industry by mortgage companies witnessed a modest increase, rising from 1,626 million NOK to 1,673 million NOK.
The rise in household deposits demonstrates the trust and confidence that individuals place in Norwegian banks and mortgage companies. The financial stability and favorable economic conditions in Norway contribute to the attractiveness of these institutions as reliable partners for managing and growing personal finances.
The Norwegian Financial Supervisory Authority will continue to monitor and assess the performance of banks and mortgage companies in the country. The next update on selected figures is scheduled for 3 July 2023, providing further insights into the evolving trends in the banking and mortgage sectors.
For a more detailed breakdown and comprehensive information on the selected figures, please refer to the official report provided by the Norwegian Financial Supervisory Authority.