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/en/bank-og-finansmarked/statistikker/banker/maanedsbalanse
362666
statistikk
2019-02-13T08:00:00.000Z
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

1 253

NOK billion in deposits from households, Desember 2018

Selected figures. NOK million.
December 2017December 2018
Banks
Loans to households1 435 8721 540 005
Loans to manufacturing industry67 98971 314
Deposits from households1 201 4161 253 199
Mortgage companies
Loans to households1 401 7251 467 496
Loans to manufacturing industry1 0732 063
State lending institutions
Loans to households232 005240 591
Loans to manufacturing industry1 8891 699

See selected tables from this statistics

Table 1 
Banks. Loans by industry. NOK million

Banks. Loans by industry. NOK million
September 2018October 2018November 2018December 2018
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 346 8721 354 2361 365 4301 371 031
 
Agriculture49 58449 84150 34750 746
Forestry3 2353 2273 2563 241
Fishing and hunting30 86531 23131 03831 332
Fish farming services20 67820 73121 24523 023
Mining and quarrying112 91213 00414 17513 038
Services linked to extraction of crude petroleum and natural gas13 4923 3183 2223 295
Extraction of crude petroleum and natural gas14 46416 4204 8085 426
Manufacturing industry71 27171 38272 35071 314
Ship and boat building7 7387 3537 7078 558
Electricity and water supply41 41541 35743 02042 090
Water supply, drainage and waste disposal4 0894 0294 2794 415
Real estate development109 502109 728110 968112 110
Building and construction work beyond real estate development44 21743 49344 19640 265
Commodity trade etc67 39070 68573 21171 294
Sea transport abroad and transport via pipelines157 90056 62759 08261 991
Transportation and storage170 44565 53368 27665 781
Hotels and restaurants12 66912 67212 60312 340
Information and communication18 42018 40718 37318 683
Real estate, renting and business activities563 608572 049576 837583 464
Professional and financial services67 81867 98370 93472 825
Businesslike services36 18936 43936 11136 332
Other service activities38 97038 72939 39339 468

Table 2 
Finance companies. Loans by industry. NOK million

Finance companies. Loans by industry. NOK million
September 2018October 2018November 2018December 2018
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 industries85 916....88 057
 
Agriculture3 785....3 721
Forestry1 051....1 060
Fishing and hunting119....118
Fish farming services2 050....2 212
Mining and quarrying12 000....2 030
Services linked to extraction of crude petroleum and natural gas11 670....1 441
Extraction of crude petroleum and natural gas203....713
Manufacturing industry7 231....7 865
Ship and boat building184....139
Electricity and water supply282....284
Water supply, drainage and waste disposal1 370....1 357
Real estate development316....280
Building and construction work beyond real estate development14 950....14 879
Commodity trade etc10 723....9 744
Sea transport abroad and transport via pipelines18 341....9 319
Transportation and storage111 604....11 363
Hotels and restaurants800....792
Information and communication2 321....2 727
Real estate, renting and business activities1 834....2 075
Professional and financial services2 104....2 797
Businesslike services9 262....9 478
Other service activities3 716....3 661

Table 3 
Mortgage companies. Loans by industry. NOK million

Mortgage companies. Loans by industry. NOK million
September 2018October 2018November 2018December 2018
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 industries141 478141 913142 388141 882
 
Agriculture2 3722 2542 2992 345
Forestry242199205207
Fishing and hunting202201211232
Fish farming services652505252
Mining and quarrying1116272626
Services linked to extraction of crude petroleum and natural gas146333333
Extraction of crude petroleum and natural gas1......
Manufacturing industry1 1121 9942 0242 063
Ship and boat building62636467
Electricity and water supply204210209219
Water supply, drainage and waste disposal5 6755 8095 8285 817
Real estate development2 8562 8412 8882 881
Building and construction work beyond real estate development3 6213 6783 7673 786
Commodity trade etc2 1662 1142 1462 125
Sea transport abroad and transport via pipelines14 7544 7504 6204 225
Transportation and storage19 9609 9289 8019 444
Hotels and restaurants1 0179969821 000
Information and communication783802815823
Real estate, renting and business activities92 73492 87493 17493 138
Professional and financial services3 1363 1583 1983 225
Businesslike services2 4142 5402 5942 642
Other service activities7 3557 3937 4537 533

Table 4 
State lending institutions. Loans by industry. NOK million

State lending institutions. Loans by industry. NOK million
September 2018October 2018November 2018December 2018
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 industries80 93780 71981 00580 918
 
Agriculture4 4794 5034 4984 458
Forestry92959594
Fishing and hunting6 2706 2436 2296 403
Fish farming services502502574569
Mining and quarrying127272728
Services linked to extraction of crude petroleum and natural gas10000
Extraction of crude petroleum and natural gas........
Manufacturing industry1 6361 6111 5931 699
Ship and boat building259255253223
Electricity and water supply143132140139
Water supply, drainage and waste disposal6666
Real estate development1 7421 7471 7351 743
Building and construction work beyond real estate development574573563565
Commodity trade etc196210213215
Sea transport abroad and transport via pipelines1229229235235
Transportation and storage1532561551537
Hotels and restaurants1 1071 040995995
Information and communication555575614626
Real estate, renting and business activities42 97342 76242 99242 544
Professional and financial services1 2351 2511 2571 297
Businesslike services144140140140
Other service activities18 23918 25718 29618 402

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 insttitutions;

http://www.ssb.no/a/innrapportering/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 insttitutions;

http://www.ssb.no/a/innrapportering/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.