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NOK182 1.3  0.7%

Last Trade - 04/05/21

Large Cap
Market Cap £24.20bn
Enterprise Value £56.18bn
Revenue £5.02bn
Position in Universe 29th / 1836

Norwegian bank should retain bulk of their net profit - regulator

Wed 22nd April, 2015 9:16am
OSLO, April 22 (Reuters) - Norwegian banks should retain the 
bulk of their profits as a high debt level combined with rising 
house prices remains a concern, the country's financial 
regulator said on Wednesday. 
    "Developments in the housing and credit markets have 
increased the risk of financial instability. This underscores 
how important it is for banks to continue to improve their 
financial position by retaining the bulk of their net profit, 
chief of Norway's Financial Supervisory Authority, Morten 
Baltzersen, said in a statement. 
    "There is a danger that the prospect of a long period of low 
interest rates and ample access to credit will encourage 
continued strong growth in debt and house prices," he added. 
"This will further increase households' debt burden and 
contribute to maintaining demand for goods and services for a 
period, but such a development is not sustainable." 
 (Reporting by Camilla Knudsen; Writing by Stine Jacobsen) 
 ((stine.jacobsen@thomsonreuters.com; +47 23 31 65 98; Reuters 
Messaging: stine.jacobsen.thomsonreuters.com@reuters.net)) 
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