399377
/en/bank-og-finansmarked/statistikker/banker/maanedsbalanse
399377
statistikk
2020-08-07T08:00:00.000Z
Banking and financial markets
en
banker, Banks and mortgage companies, finance companies, state lending institutions, loans, deposits, financing, mortgages, bonds, commercial papers, shares, ownership interest, assets, liabilities, foreign banks, borrowersFinancial institutions and other financial corporations, Banking and financial markets
true

Banks and mortgage companies

Updated

Next update

Key figures

1 448

NOK billion in deposits from Households, June 2020

Selected figures. NOK million.
June 2019June 2020
Banks
Loans to households1 473 9991 493 647
Loans to manufacturing industry77 39777 011
Deposits from households1 338 4451 448 235
Mortgage companies
Loans to households1 625 9551 743 933
Loans to manufacturing industry2 2482 454
State lending institutions
Loans to households247 329257 078
Loans to manufacturing industry1 7501 662

See selected tables from this statistics

Table 1 
Banks. Loans by industry. NOK million

Banks. Loans by industry. NOK million
March 2020April 2020May 2020June 2020
1Due to the main revision of the national accounts in 2014 there is a new definition of Mainland-Norway. Parts of the industry of ‘Services linked to extraction of crude petroleum and natural gas’ will now be classified under the industry of ‘Mining and quarrying’, also a part of the industry of ‘Sea transport abroad’ and ‘Transport via pipelines’ will now be classified under the industry of ‘Transportation and storage’. The shift will basically occur in the period from October to December 2014.
All industries1 521 3121 517 7061 515 5571 512 764
 
Agriculture52 90953 00053 00053 310
Forestry4 4854 4834 4594 427
Fishing and hunting36 62536 49236 42336 298
Fish farming services26 33426 60627 78526 913
Mining and quarrying19 5369 2549 9559 356
Services linked to extraction of crude petroleum and natural gas13 0712 7482 4342 507
Extraction of crude petroleum and natural gas12 15411 45010 18411 453
Manufacturing industry80 86680 92781 02577 011
Ship and boat building6 2666 0526 0896 722
Electricity and water supply44 11444 47745 48946 344
Water supply, drainage and waste disposal5 1115 2675 5617 296
Real estate development126 841126 822126 561127 100
Building and construction work beyond real estate development44 27443 76244 51846 073
Commodity trade etc79 95374 60372 20370 268
Sea transport abroad and transport via pipelines172 58969 85967 21365 404
Transportation and storage167 03266 63266 80565 604
Hotels and restaurants16 76717 82118 84418 633
Information and communication18 32718 81419 17419 230
Real estate, renting and business activities642 144647 245647 162646 669
Professional and financial services89 69889 40988 61788 934
Businesslike services38 65438 34338 09939 446
Other service activities43 56143 64043 95643 768

Table 2 
Mortgage companies. Loans by industry. NOK million

Mortgage companies. Loans by industry. NOK million
March 2020April 2020May 2020June 2020
1Due to the main revision of the national accounts in 2014 there is a new definition of Mainland-Norway. Parts of the industry of ‘Services linked to extraction of crude petroleum and natural gas’ will now be classified under the industry of ‘Mining and quarrying’, also a part of the industry of ‘Sea transport abroad’ and ‘Transport via pipelines’ will now be classified under the industry of ‘Transportation and storage’. The shift will basically occur in the period from October to December 2014.
All industries132 786133 984133 873131 352
 
Agriculture2 5112 5362 5402 576
Forestry255255251244
Fishing and hunting293276285279
Fish farming services144144143142
Mining and quarrying156565757
Services linked to extraction of crude petroleum and natural gas134343434
Extraction of crude petroleum and natural gas........
Manufacturing industry2 3962 3702 4682 454
Ship and boat building57515656
Electricity and water supply244246248244
Water supply, drainage and waste disposal6 0065 9996 0156 031
Real estate development9661 107951940
Building and construction work beyond real estate development4 4764 4734 4164 319
Commodity trade etc2 3122 0962 1992 079
Sea transport abroad and transport via pipelines12 2682 3612 0081 714
Transportation and storage18 9308 5838 7588 608
Hotels and restaurants567545525514
Information and communication848817800724
Real estate, renting and business activities86 81288 17988 85987 789
Professional and financial services3 2713 3873 0782 894
Businesslike services3 2192 8342 7022 701
Other service activities7 1227 6367 4816 953

Table 3 
State lending institutions. Loans by industry. NOK million

State lending institutions. Loans by industry. NOK million
March 2020April 2020May 2020June 2020
1Due to the main revision of the national accounts in 2014 there is a new definition of Mainland-Norway. Parts of the industry of ‘Services linked to extraction of crude petroleum and natural gas’ will now be classified under the industry of ‘Mining and quarrying’, also a part of the industry of ‘Sea transport abroad’ and ‘Transport via pipelines’ will now be classified under the industry of ‘Transportation and storage’. The shift will basically occur in the period from October to December 2014.
All industries79 78479 70379 82179 942
 
Agriculture4 2594 2494 2594 235
Forestry79788178
Fishing and hunting6 2626 2426 1886 225
Fish farming services552550606856
Mining and quarrying132323132
Services linked to extraction of crude petroleum and natural gas1-9-9-9-9
Extraction of crude petroleum and natural gas........
Manufacturing industry1 7431 7681 6971 662
Ship and boat building7275293289
Electricity and water supply121122122121
Water supply, drainage and waste disposal13131321
Real estate development1 6121 6041 6791 675
Building and construction work beyond real estate development505509448456
Commodity trade etc271278290301
Sea transport abroad and transport via pipelines130303030
Transportation and storage1575464558550
Hotels and restaurants1 5001 5911 5011 501
Information and communication816836845885
Real estate, renting and business activities41 52441 43641 44941 173
Professional and financial services1 3971 3851 2531 277
Businesslike services138144142143
Other service activities18 29418 30618 34618 440

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.

Definitions

Definitions of the main concepts and variables

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.

 

Standard classifications

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.

Administrative information

Name and topic

Name: Banks and mortgage companies
Topic: Banking and financial markets

Next release

Responsible division

Division for Financial Markets Statistics

Regional level

The whole country

Frequency and timeliness

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.

International reporting

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

Microdata

Not relevant

Background

Background and purpose

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.

Users and applications

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.

Equal treatment of users

Not relevant

Coherence with other statistics

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.

Legal authority

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 16 June 1989 no. 54 (the Statistics Act).

EEA reference

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

Production

Population

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.

Data sources and sampling

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

The accounting statistics are based on the total count.

 

Collection of data, editing and estimations

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.

Seasonal adjustment

Not relevant

Confidentiality

Not relevant

Comparability over time and space

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 like new companies, mergers and spin-offs, and portfolio movements, may also lead to breaches in the time series.

International Financial Reporting Standard (IFRS)
The new accounting standard IFRS is an example of a change that has causedbreaches in the time series. From 2009, the reporting companies may report according to the IFRS standard and other entities may follow NGAAP. The IFRS standard will lead to larger fluctuations in the data because of more extensive use of fair value in the accounting. The comparison of the reported data with the companies' official accounts is also challenging when the IFRS standard does not require a specific presentation of the accounts, as the traditional Norwegian accounting standards do.

Regulation on loans
The IFRS-adapted regulation on loans was introduced 1. January 2005. It lead 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 were also a breach in the time series on loans in 1992 due to changed accounting rules.

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

Structural changes
There are several mergers, spin-offs and new companies being started 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.

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 are affected in particular, since many of the institutions that were included earlier, have been moved from non-financial institutions to financial institutions.

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.

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, a number of new mortgage companies have been established. As a result, lending portfolios have been swapped between banks and mortgage Companies.

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 creates the basis for the statistics. This implied an extensive restructuration and by definition a change in 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

Accuracy and reliability

Sources of error and uncertainty

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.

Revision

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