Norway banks holding a record 1,000bn kroner

Bank deposits in Norway have hit a high, despite low interest rates, as householders hold over 1,000 billion kroner in their accumulated bank accounts, latest statistics show.

Norway banks holding a record 1,000bn kroner
Norwegian kroner banknotes. Photo: Berit Roald / NTB scanpix
The bank balance of all Norwegian households totalled 1,003 billion kroner ($150 billion) at the end of September this year. This is 76 billion kroner ($11 billion) more than at the same time last year.
Bank deposits by the Norwegian population have increased by 8 percent only during the last year, based on latest figures from Statistisk sentralbyrå (SSB – Statistics Norway).
Norway's households have also become more important to the banks during the last years. In 2009, householders' savings accounted for 30 percent of the collected deposits of the banks. This has now increased to close to 35 percent.

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