Banks and mortgage companies

Updated: 12 May 2022

Next update: 23 May 2022

Deposits from households
Deposits from households
March 2022
1 560 102
NOK million
Banks, selected figures. NOK million
Banks, selected figures. NOK million
Balance sheet
February 2022March 2022
Loans to households1 607 4071 603 581
Loans to the manufacturing industry82 69083 040
Deposits from households1 556 5681 560 102
Results1
1st quarter 20211st quarter 2022
Net interest income20 88922 660
Profit and loss before other comprehensive income13 82013 857
Loans and deposits by county
20192020
Deposits from employees, Oslo195 709211 411
Deposits from non-financial corporations, Trøndelag50 06760 429
Loans to employees, Rogaland129 249127 955
Loans to manufacture, Møre og Romsdal9 06910 827
1Accumulated figures since the beginning of the year.
Explanation of symbols

Selected tables and figures from this statistics

Loans from banks by industry. NOK million
Loans from banks by industry. NOK million
December 2021January 2022February 2022March 2022
All industries1 603 6421 625 4711 632 5751 648 568
Agriculture57 77358 52156 59656 892
Forestry4 0194 0424 0334 069
Fishing and hunting43 03943 94744 06744 540
Fish farming services41 56239 67439 54640 187
Mining and quarrying7 6497 8777 0336 885
Services linked to extraction of crude petroleum and natural gas2 0672 0021 9971 978
Extraction of crude petroleum and natural gas7 5136 9256 4195 807
Industry77 71278 02482 69083 040
Ship and boat building4 2254 1653 5703 982
Electricity and water supply58 19656 61553 07955 086
Water supply, drainage and waste disposal6 8987 4027 4497 258
Real estate development146 815150 151152 449154 987
Building and construction work beyond real estate development46 84545 57047 40247 108
Commodity trade etc76 08278 76181 69281 810
Sea transport abroad and transport via pipelines51 64753 84751 92350 820
Transportation and storage67 96769 71870 17466 297
Hotels and restaurants19 79619 67619 19319 247
Information and communication18 22018 40717 82417 243
Real estate, renting and business activities693 745707 224709 356719 742
Professional and financial services87 67088 41891 45595 830
Businesslike services35 82136 15836 36537 854
Other service activities48 38048 34748 26647 907
Explanation of symbols
Loans by type, from banks to households. NOK million
Loans by type, from banks to households. NOK million1
December 2021January 2022February 2022March 2022
Credit lines, secured on dwellings163 965164 964165 753166 904
Credit lines, secured on commercial property14 17613 99713 23413 347
Credit lines, secured on other items15 23215 21714 81714 772
Credit card loans22 84422 03123 02823 797
Factoring161153489536
Leasing6 5276 6376 4086 490
Other credit lines, without collateral15 82316 05115 59815 475
Repayment loans secured on dwellings1 176 8231 181 5681 186 7551 177 245
Repayment loans, secured on commercial property64 20964 07064 61864 502
Repayment loans, secured on other items90 52291 00789 74390 748
Repayment loans, without collateral38 76141 39235 38038 138
Repurchase agreement338377382398
1Loans in this table are measured in gross value.
Explanation of symbols
Deposits from households by type. NOK million
Deposits from households by type. NOK million
December 2021January 2022February 2022March 2022
Total deposits1 523 9801 535 8821 556 5681 560 102
Transaction deposits1 362 3471 369 1331 388 7011 390 371
Deposits with short agreed maturity95 71097 70399 042101 667
Deposits with long agreed maturity5 9408 1138 2178 108
Tax deduction accounts430322438333
Deposits related to pension schemes423409418420
Housing savings for young people53 46954 47354 03853 466
Deposits tied to other purposes5 6625 7275 7145 738
Explanation of symbols
Loans from financial corporations by borrower sector. NOK million
Loans from financial corporations by borrower sector. NOK million
December 2021January 2022February 2022March 2022
Banks
Non-financial corporations1 449 1021 470 1141 479 2451 494 439
Financial corporations586 958575 715629 963637 384
General government13 0887 3354 9248 019
Non-profit institutions serving households15 69715 60315 42015 355
Households1 600 5071 608 6181 607 4071 603 581
Rest of the world461 135479 859522 577518 674
Finance companies1
Non-financial corporations81 518....82 776
Financial corporations344....275
General government2 098....2 073
Non-profit institutions serving households310....317
Households99 295....98 647
Rest of the world12 607....13 420
Mortgage companies
Non-financial corporations44 23144 38244 92544 979
Financial corporations37 52318 73552 73412 870
General government316 300317 296317 927314 461
Non-profit institutions serving households1 8351 8241 8911 872
Households1 905 7731 905 1401 912 1031 927 320
Rest of the world4 2138 5214 3064 830
State lending institutions
Non-financial corporations37 63537 59636 40936 393
Financial corporations31314039
General government83 15883 05388 06292 978
Non-profit institutions serving households11 08611 16611 29211 250
Households271 038275 755276 763277 288
Rest of the world3 7713 8563 8743 890
1Quarterly reporting
Explanation of symbols
Main figures from banks' profit and loss accounts. NOK million
Main figures from banks' profit and loss accounts. NOK million
1st quarter 20191st quarter 20201st quarter 20211st quarter 2022
Total interest income and similar income35 74741 38127 37532 280
Total interest expenses and similar expenses14 41817 4556 4869 619
Net interest income21 32823 92520 88922 660
Total income47 74451 39140 85843 253
Total cost29 21832 59522 08125 771
Pre-loss profit18 52618 79518 77817 482
Total credit loss on loans, guarantees and securities1 25313 1301 277153
Confirmed credit losses on loans7177733 8552 881
Pre-tax profit17 2725 66617 50117 329
Taxes on ordinary profit3 5731 0653 6813 472
Profit and loss before other comprehensive income13 6994 60013 82013 857
Other comprehensive income before taxes-462-7605601 959
Taxes on other comprehensive income12596-133-209
Comprehensive income13 3623 93614 24715 607
Explanation of symbols
Deposits by county. NOK million
Deposits by county. NOK million
2017201820192020
Viken......563 775
Østfold (-2019)86 15491 93397 399..
Akershus (-2019)265 046281 358293 192..
Buskerud (-2019)103 186114 403112 568..
Oslo566 356564 317598 536710 447
Innlandet......168 375
Hedmark (-2019)70 76976 48484 892..
Oppland (-2019)64 29668 11269 411..
Vestfold og Telemark......160 812
Vestfold (-2019)78 42982 13985 536..
Telemark (-2019)54 04256 73459 406..
Agder......124 453
Aust-Agder (-2019)39 45439 16240 978..
Vest-Agder (-2019)66 21567 09969 932..
Rogaland214 088224 879235 258263 424
Vestland......307 905
Hordaland (-2019)219 229224 632231 681..
Sogn og Fjordane (-2019)48 77650 57653 438..
Møre og Romsdal107 253109 404113 120123 583
Trøndelag - Trööndelage..177 838189 947214 208
Sør-Trøndelag (-2017)123 843......
Nord-Trøndelag (-2017)43 419......
Nordland - Nordlánnda84 55089 14796 600103 762
Troms og Finnmark - Romsa ja Finnmárku......97 862
Troms - Romsa (-2019)58 29161 12162 822..
Finnmark - Finnmárku (-2019)21 71223 36225 267..
Other799678976950
Explanation of symbols
Loans from banks by county. NOK million
Loans from banks by county. NOK million
2017201820192020
Viken......569 463
Østfold (-2019)96 698106 590103 723..
Akershus (-2019)271 568304 779309 068..
Buskerud (-2019)116 696124 680125 935..
Oslo852 616804 258978 748962 839
Innlandet......161 396
Hedmark (-2019)83 24689 28193 306..
Oppland (-2019)62 84967 49565 842..
Vestfold og Telemark......176 444
Vestfold (-2019)94 368102 005100 767..
Telemark (-2019)66 54670 14673 385..
Agder......145 057
Aust-Agder (-2019)47 59347 14245 692..
Vest-Agder (-2019)95 47098 58096 155..
Rogaland276 113279 929291 153292 966
Vestland......357 153
Hordaland (-2019)276 785298 278301 131..
Sogn og Fjordane (-2019)55 37359 22256 478..
Møre og Romsdal160 318174 520166 778172 495
Trøndelag - Trööndelage..268 094282 118305 807
Sør-Trøndelag (-2017)192 777......
Nord-Trøndelag (-2017)58 255......
Nordland - Nordlánnda113 360121 040123 148129 614
Troms og Finnmark - Romsa ja Finnmárku......114 611
Troms - Romsa (-2019)75 20083 47885 566..
Finnmark - Finnmárku (-2019)25 70226 53527 744..
Other3773486111 046
Explanation of symbols

About the statistics

The statistics on banks and mortgage companies compile balance sheets and profit and loss accounts for credit institutions, finance companies and state lending institutions. The balance sheet shows assets, liabilities and equity. The profit and loss account shows revenues and expenses.

Balance sheet, monthly and yearly

The balance sheet shows assets, liabilities and equity at the end of the accounting period. The most important balance sheet items are presented by sector.

Profit and loss account, quarterly

The profit and loss account shows accumulated revenues and expenses throughout the year.

There are four types of classifications: object/instrument, sector, industry and type.

Finance objects and real objects (instruments)

Liabilities, claims and other assets in banks and financial corporations' balance sheets are divided into main equable groups, for example loans, bank deposits, bonds, shares etc.

Debtor and creditor sector

Borrowers and lenders are classified by institutional sector classification based on the national accounts' regulations. See our pages for the reporting institutions (in Norwegian);

https://www.ssb.no/innrapportering/naeringsliv/orbof

Debtor and creditor industry

Based on regulations in the industry standard, loans and deposits are grouped according to which industry the debtor or creditor belongs to. See our pages for the reporting institutions (in Norwegian);

https://www.ssb.no/innrapportering/naeringsliv/orbof

Income and cost types

Income and cost types are based on national account regulations. Examples of income and cost types are interest income and interest costs.

Name: Banks and mortgage companies

Topic: Banking and financial markets

23 May 2022

Division for Financial Markets Statistics

The whole country

The monthly balance sheet statistics is published 5 weeks after the reporting period. The profit and loss account is published 8 weeks after the reporting period. Yearly aggregated loans and deposits by county are published 6 months after the reporting period.

Reporting to the BIS, Eurostat, the IMF and the OECD.

Not relevant

The reporting procedure is made in collaboration between the Financial Supervisory Authority of Norway, Norges Bank and Statistics Norway. The data from banks and financial corporations form the basis for the supervision of the institutions and the financial markets. The data is also an information base for the monetary and credit market policy and a vital contribution to the statistics for credit indicators and monetary growth. The reporting is the main base for the official statistics on financial enterprises. It is also an important input in the national accounts and the balance of payments and the credit market statistics. The data is used for international reporting to the BIS, Eurostat, the IMF and the OECD etc.

The main area of application is statistics (publishing and input in other statistics), analysis and supervision (by the Financial Supervisory Authority of Norway). The data is included in the national accounts, financial sector accounts and the balance of payments. Important users other than Statistics Norway are Norges Bank, the Financial Supervisory Authority of Norway, Ministry of Finance, the financial services industry, researchers at universities and in international organisations, and the media.

Not relevant

The statistics are based on the guidelines in the national accounts standards System of National Accounts from 2008 (SNA 2008), European System of Accounts from 2010 (ESA 2010) and the IMF Manual on Monetary and Financial Statistics.



Statistics from the financial institutions are used in the national accounts, financial sector accounts, the balance of payments and in the Norwegian statistics of foreign debt and receivables.

The main part of the data covered here is collected under the provisions of the Act on the Supervision of Credit Institutions, Insurance Companies and Securities Trading etc. (Financial Supervision Act) of 7 December 1956 no. 1 (with amendments per 1 July 2003). Reporting from Norges Bank and from state lending institutions is obtained under the provisions of the Act concerning official statistics and Statistics Norway of 21 June 2019 no. 32 (the Statistics Act).

Council directive 635/86 Accounting directive for banks and other credit institutions.

Council directive 2006/48/EF Supervisory directive relating to the taking up and pursuit of the business of credit institutions

Council regulation 295/2008. Council regulation 251/2009 Amendments to council regulation 295/2008.

Council regulation 2223/96 The regulation covers the European system for national and regional accounts.

Council regulation 1392/2007 Amendments to council regulation 2223/96.

Council regulation 1606/2002 Regulation on the application of international accounting standards

Council regulation 297/2008 Amendments to council regulation 1606/2002

The financial statistics is based on balance sheet and profit and loss account data from Norges Bank, all banks, state lending institutions, mortgage companies and financial companies in Norway, including foreign companies' branches in Norway.

The data is based on reconciliated accounting data from financial institutions.

The accounting statistics are based on the total count.

The Financial Supervisory Authority of Norway and Statistics Norway work together to collect the accounting data. All data is reported electronically via the official Norwegian portal Altinn. The reporting institutions receive automatic feedback on errors or possible errors in the reporting. These errors should be corrected within two days. After Statistics Norway complete to process the data, the reporting institutions may be asked to control, verify or correct other data not included in the automatic feedback. Corrections from the reporting institutions are received continuously.

Not relevant
Not relevant

Amendments to the Accounting Act and regulations

The accounting statistics for financial institutions is based on current accounting regulations for financial institutions. Breaches may therefore occur in connection with changes in accounting legislation and in the regulations applicable to the financial institutions.

Structural changes in the financial sector

There are several new companies, acquisitions, mergers, spin-offs, reclassifications and portfolio movements every year. Many of these structural changes have no significant impact on the statistics, while others lead to breaches in the time series. Major changes will be commented upon in the current statistics publication.

Regulation on loans

The IFRS-adapted regulation on loans was introduced 1. January 2005. Which led to a small change in the measuring of the value of loans and guaranties in the accounting data and thereby to a small breach in the time series for loans and loan loss provisions. There was also a breach in the time series on loans in 1992 due to changes in accounting rules.

Changes in the presentation of the statistics

Data specifications are updated continuously. An example of changes in data series is that Credit lines secured on dwellings became a new specification from January 2006 and was partly deducted from repayment loans secured on dwellings.

Norwegian covered bonds

Covered bonds are bonds conferring a preferential claim over a cover pool consisting of public sector loans and loans secured on dwellings or other real property. Only mortgage companies with special authorisation can issue covered bonds in Norway, and these bonds have been issued since June 2007.

On 24 October 2008, the Norwegian Parliament granted the Ministry of Finance the authority to put into effect an arrangement where Norwegian banks could “swap” covered bonds with treasury bills. This “swap agreement” was aimed at reducing the negative effects of the financial crisis. The banks can acquire covered bonds either in the market or directly from mortgage companies that are licensed to issue covered bonds. Since the announcement of this offer by the Norwegian government, several new mortgage companies have been established. As a result, lending portfolios have been swapped between banks and mortgage companies.

New specification on industries

In May 2009, a new Norwegian standard for industries were introduced in the financial statistics. This change increased the possibilities to track the development in loans for important individual industries. It also led to breaches in time series for loans by industry. This makes comparison of loans by industry difficult in the period before and after May 2009 on monthly basis, and before and after May 2010 on yearly basis for several industries.

New institutional grouping of sectors

From January 2012, a new Norwegian standard for institutional grouping of sectors were made in line with revised international standards, which Norway is obliged to follow. From March 2012 onwards, this led to breaches in the accounting statistics for banks and financial institutions.

Some companies that were classified as non-financial institutions are now classified as financial institutions. Loan to these institutions should no longer be allocated between different industries and are no longer included in the statistics for loans by industry. The industry for professional and financial services is particularly affected, since many of the institutions that were included earlier, have been moved from non-financial institutions to financial institutions.

New specifications of deposits

As of April 2015, new deposit specifications were introduced in the balance sheet reporting. Some deposit series from the periods prior to April 2015 are therefore not comparable with later periods. See this article for more information: https://www.ssb.no/bank-og-finansmarked/artikler-og-publikasjoner/pengemengdestatistikken

Customisation of reporting from banks and finance companies (ORBOF) to international accounting standards (IFRS 9)

From January 2018 onwards, there has been completed a large restructuration of the reporting that is the basis for this statistic. This was an extensive restructuration and implied change of definitions in the reported data, which affected both the balance sheet and the profit and loss account. It also led to changes in the scope of some objects in the reporting. Due to the new reporting standard, there are breaches in some time series that makes it challenging to compare data before and after January 2018. See this article for more information: https://www.ssb.no/bank-og-finansmarked/omlegging-av-bankstatistikken

Errors and discrepancies can occur in the accounting data. These discrepancies can have a several sources:

*Errors in the reporting party's accounts

*Errors in the transfer of data from the institution's primary accounts to data reports and to recipients

*Different accounting and evaluation principles

*Different accounting dates for transactions

*Insufficient data from the reporting parties

*Processing errors

Due to large amounts of data and a dynamic control and revision system, published data will be regarded as preliminary until next years data for the same period is published. This means that data for the current year may be revised without this being marked in the preceding publishing. Large and important revision however, will be commented upon in the publishing of today's statistics.

The statistics show preliminary figures. Data may be revised in future publications.

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