368959
/en/bank-og-finansmarked/statistikker/banker/maanedsbalanse
368959
statistikk
2019-06-12T08:00:00.000Z
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

1 270

NOK billion in deposits from households, april 2019

Selected figures. NOK million.
April 2018April 2019
Banks
Loans to households1 466 1161 564 826
Loans to manufacturing industry70 59473 148
Deposits from households1 210 0001 269 555
Mortgage companies
Loans to households1 414 4081 490 754
Loans to manufacturing industry1 0942 203
State lending institutions
Loans to households238 975246 823
Loans to manufacturing industry1 6191 765

See selected tables from this statistics

Table 1 
Banks. Loans by industry. NOK million

Banks. Loans by industry. NOK million
January 2019February 2019March 2019April 2019
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 374 7981 390 5881 416 0811 427 679
 
Agriculture50 92349 46549 83050 161
Forestry3 2573 2813 3103 366
Fishing and hunting32 05132 32332 67632 507
Fish farming services23 39723 80022 09321 865
Mining and quarrying110 72810 76010 82310 772
Services linked to extraction of crude petroleum and natural gas13 1893 1483 4353 196
Extraction of crude petroleum and natural gas5 1427 0136 6957 786
Manufacturing industry73 09474 50772 87773 148
Ship and boat building8 0107 3217 9848 098
Electricity and water supply41 37041 42341 81543 168
Water supply, drainage and waste disposal3 9843 6213 5233 663
Real estate development113 229115 862119 108122 275
Building and construction work beyond real estate development42 50243 40144 21044 976
Commodity trade etc72 22176 01978 61579 754
Sea transport abroad and transport via pipelines160 68659 23659 69460 925
Transportation and storage166 96168 20767 40766 344
Hotels and restaurants12 61712 81013 15713 470
Information and communication18 39219 42219 07120 256
Real estate, renting and business activities583 623586 320604 020603 386
Professional and financial services73 74174 80377 45279 057
Businesslike services36 21937 80538 16838 977
Other service activities39 46340 04540 12040 529

Table 2 
Finance companies. Loans by industry. NOK million

Finance companies. Loans by industry. NOK million
January 2019February 2019March 2019April 2019
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 industries....88 976.
 
Agriculture....3 761.
Forestry....1 075.
Fishing and hunting....138.
Fish farming services....2 264.
Mining and quarrying1....1 913.
Services linked to extraction of crude petroleum and natural gas1....1 285.
Extraction of crude petroleum and natural gas....1 213.
Manufacturing industry....7 790.
Ship and boat building....142.
Electricity and water supply....269.
Water supply, drainage and waste disposal....1 432.
Real estate development....311.
Building and construction work beyond real estate development....14 930.
Commodity trade etc....9 697.
Sea transport abroad and transport via pipelines1....8 878.
Transportation and storage1....11 703.
Hotels and restaurants....792.
Information and communication....2 736.
Real estate, renting and business activities....2 146.
Professional and financial services....3 290.
Businesslike services....9 295.
Other service activities....3 917.

Table 3 
Mortgage companies. Loans by industry. NOK million

Mortgage companies. Loans by industry. NOK million
January 2019February 2019March 2019April 2019
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 industries142 423142 217128 876128 613
 
Agriculture2 3522 3702 3992 417
Forestry204207210212
Fishing and hunting240241245249
Fish farming services51515248
Mining and quarrying130302930
Services linked to extraction of crude petroleum and natural gas133333333
Extraction of crude petroleum and natural gas........
Manufacturing industry2 1162 1002 0792 203
Ship and boat building67696769
Electricity and water supply219212214211
Water supply, drainage and waste disposal5 8445 9136 1036 040
Real estate development2 8432 6471 7181 310
Building and construction work beyond real estate development3 8453 8603 7533 899
Commodity trade etc2 1612 1402 2092 131
Sea transport abroad and transport via pipelines14 1334 1503 8253 732
Transportation and storage19 5639 5459 1179 261
Hotels and restaurants1 0031 047945806
Information and communication828839878862
Real estate, renting and business activities93 98293 82882 23982 158
Professional and financial services3 1643 1573 1723 138
Businesslike services2 6442 6472 4482 720
Other service activities7 1007 1337 1427 085

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

State lending institutions. Loans by industry. NOK million
January 2019February 2019March 2019April 2019
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 88481 22181 28181 257
 
Agriculture4 4214 4124 3864 360
Forestry96929393
Fishing and hunting6 3896 3996 2926 414
Fish farming services570582579595
Mining and quarrying128303030
Services linked to extraction of crude petroleum and natural gas10000
Extraction of crude petroleum and natural gas........
Manufacturing industry1 6771 7501 7701 765
Ship and boat building194186187186
Electricity and water supply139139138135
Water supply, drainage and waste disposal6699
Real estate development1 7411 8001 7971 797
Building and construction work beyond real estate development566580529508
Commodity trade etc218237254298
Sea transport abroad and transport via pipelines1235228228228
Transportation and storage1536529528552
Hotels and restaurants9831 0621 0671 057
Information and communication639664684710
Real estate, renting and business activities42 41842 53742 67542 503
Professional and financial services1 2721 2751 2781 277
Businesslike services143141145144
Other service activities18 61518 57218 61418 598

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.