On Tuesday evening, the TV program “The Debate” addressed the interest rate hikes that have hit Norwegians’ wallets in the past year.
– While the customers are bleeding, the bank manager is grinning. It couldn’t be more provocative, said former presenter and TV2 veteran Oddvar Stenstrøm, who got to introduce the NRK program on Tuesday evening.
Stenstrøm pointed out that the state owns over 30 per cent of DNB.
– While more and more people have to ask for payment deferrals and freedom from installments, homes are being foreclosed on and the poorhouse does not have enough food for everyone in the queue, there are others who are making big strides. Is that how we want it? Stenstrøm asked.
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There were a number of guests who had appeared in the NRK studio to have their say on the interest rate party.
– I almost feel physically sick from the food queues, said Martin Kolberg, former party secretary in the Labor Party.
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– Very serious
He fears that the differences in society are increasing. He believes that conflicts with social democratic principles.
– It is very serious for all of us.
DNB’s communications director Even Westerveld appeared to respond to the criticism.
– Half goes back to the community for DNB, said Westerveld and referred to dividends.
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– Never had mortgage margins so low
– Are you under such pressure that you have to pay out 19 billion in share dividends? Kolberg asked.
Westerveld pointed out that it is the state that determines the dividend. He also emphasized that it is important to have solid banks in Norway that make money – especially in the face of more difficult times.
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He rejects the big interest rate party that the media is talking about:
– We have never had such low mortgage margins. What the banks earn from mortgages has not been this low in 30 years, he said.
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– The banks live off that difference
The interest rate on deposits also became a topic. Fredrik Solvang pressed the DNB top management on why the interest rate is only 2.5 per cent on savings.
– Why is the deposit rate not the same as the lending rate?
– It is because the business models of the banks are simple. We take care of money and give an interest back. We lend money to those who need it. That difference is what the banks make a living from, said Westerveld.
The program also states that Sparebank 1 Hallingdal Valdres dropped the latest interest rate hike. Information director Tom Staavi believes that if all the banks were to do so, Norges Bank would have had to raise the interest rate further.
Will regulate the banks
There were also politicians who had lined up to present possible solutions.
SV top Kari Elisabeth Kaski wants to regulate the banks in order to improve the competitive situation in the banking market. They will regulate the relationship between deposit interest and lending interest.
– We can say that there can be a maximum difference. I’m not saying it should be the same. The banks will be allowed to make money, but less than today, said Kaski.
2023-10-03 21:12:58
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