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Read the latest news from Eika Boligkreditt about the Norwegian economy with key figures, today's financial situation and our strategic framework for sustainability.

The Economy

  • GDP-growth of +0.7% for 2023. Expected growth below trend also for 2024    
  • Strong labour market. Unemployment rate 2.0% seasonally adjusted in May 2024. Expected to increase slightly going forward 
  • 0.9% growth in house prices in 2023. Stronger development in house prices expected for 2024. 8.2% YtD
  • 5.5% inflation and 5.3% increase in wages in 2023. TBU expect inflation of 4.1% for 2024. Wage growth probably 5.2%-5.5% for 2024 
  • Policy rates peaked at 4.5% in December 2023. Norges Bank expected to start cut rates towards end of 2024

Robust, local savings banks

  • 3rd largest Norwegian banking group
  • Focus on retail lending
  • High asset quality with low levels of doubtful & non-performing loans, low LTV and no direct exposure to oil/offshore/shipping
  • Strong and diversified deposit base  
  • Strong capitalization and high level of liquidity buffers
  • Strong position in the local markets

Conservative cover pool

  • Maximum 75% LTV for mortgages at origination and strict underwriting criteria
  • 100% residential assets as mortgage collateral
  • Prudent risk management with regards to refinancing, liquidity, currency, interest rate and counterparty risk
  • Credit guarantees from the distributors and capital and liquidity support agreements with the owners

Investor Presentations