385957
/en/bank-og-finansmarked/statistikker/banker/maanedsbalanse
385957
statistikk
2019-08-13T08:00:00.000Z
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

1 338

NOK billion in deposits from households, June 2019

Selected figures. NOK million.
June 2018June 2019
Banks
Loans to households1 498 1481 473 192
Loans to manufacturing industry74 62077 397
Deposits from households1 276 9641 337 903
Mortgage companies
Loans to households1 424 1481 625 955
Loans to manufacturing industry1 1172 248
State lending institutions
Loans to households239 289247 329
Loans to manufacturing industry1 5291 750

See selected tables from this statistics

Table 1 
Banks. Loans by industry. NOK million

Banks. Loans by industry. NOK million
March 2019April 2019May 2019June 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 416 0841 427 6791 433 5311 439 825
 
Agriculture49 83050 16150 58250 845
Forestry3 3103 3663 4183 431
Fishing and hunting32 67632 50732 79232 864
Fish farming services22 09321 86522 32722 575
Mining and quarrying110 82310 77210 84511 011
Services linked to extraction of crude petroleum and natural gas13 4353 1963 2763 049
Extraction of crude petroleum and natural gas6 6957 7867 3895 311
Manufacturing industry72 87273 14875 67077 397
Ship and boat building7 9848 0988 8358 100
Electricity and water supply41 81543 16843 83943 134
Water supply, drainage and waste disposal3 5233 6633 6753 852
Real estate development119 108122 275122 728122 016
Building and construction work beyond real estate development44 21044 97647 33746 293
Commodity trade etc78 61879 75478 49876 521
Sea transport abroad and transport via pipelines159 69460 92561 17556 692
Transportation and storage167 40766 34467 74167 604
Hotels and restaurants13 15713 47014 26513 736
Information and communication19 07120 25620 61720 483
Real estate, renting and business activities604 021603 386597 506614 770
Professional and financial services77 45379 05780 65782 179
Businesslike services38 16838 97739 27936 406
Other service activities40 12140 52941 08041 557

Table 2 
Finance companies. Loans by industry. NOK million

Finance companies. Loans by industry. NOK million
March 2019April 2019May 2019June 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 industries88 976....91 748
 
Agriculture3 761....3 892
Forestry1 075....1 162
Fishing and hunting138....136
Fish farming services2 264....2 296
Mining and quarrying11 913....3 047
Services linked to extraction of crude petroleum and natural gas11 285....1 292
Extraction of crude petroleum and natural gas1 213....983
Manufacturing industry7 790....8 012
Ship and boat building142....134
Electricity and water supply269....270
Water supply, drainage and waste disposal1 432....1 395
Real estate development311....379
Building and construction work beyond real estate development14 930....15 518
Commodity trade etc9 697....9 653
Sea transport abroad and transport via pipelines18 878....8 492
Transportation and storage111 703....12 398
Hotels and restaurants792....892
Information and communication2 736....2 829
Real estate, renting and business activities2 146....2 150
Professional and financial services3 290....3 452
Businesslike services9 295....9 539
Other service activities3 917....3 826

Table 3 
Mortgage companies. Loans by industry. NOK million

Mortgage companies. Loans by industry. NOK million
March 2019April 2019May 2019June 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 industries128 876128 613128 445128 252
 
Agriculture2 3992 4172 4342 320
Forestry210212225228
Fishing and hunting245249263266
Fish farming services52484763
Mining and quarrying129303840
Services linked to extraction of crude petroleum and natural gas133333334
Extraction of crude petroleum and natural gas........
Manufacturing industry2 0792 2032 2222 248
Ship and boat building67696764
Electricity and water supply214211210211
Water supply, drainage and waste disposal6 1036 0406 0656 064
Real estate development1 7181 3101 014989
Building and construction work beyond real estate development3 7533 8993 9724 071
Commodity trade etc2 2092 1312 0872 205
Sea transport abroad and transport via pipelines13 8253 7323 5883 091
Transportation and storage19 1179 2619 2419 253
Hotels and restaurants945806753760
Information and communication878862856890
Real estate, renting and business activities82 23982 15882 14682 229
Professional and financial services3 1723 1383 3113 286
Businesslike services2 4482 7202 7662 828
Other service activities7 1427 0857 1077 114

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

State lending institutions. Loans by industry. NOK million
March 2019April 2019May 2019June 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 industries81 28181 25780 97480 826
 
Agriculture4 3864 3604 3414 336
Forestry93939291
Fishing and hunting6 2926 4146 3446 357
Fish farming services579595529531
Mining and quarrying130302929
Services linked to extraction of crude petroleum and natural gas100-1-1
Extraction of crude petroleum and natural gas........
Manufacturing industry1 7701 7651 7661 750
Ship and boat building187186185179
Electricity and water supply138135135134
Water supply, drainage and waste disposal9999
Real estate development1 7971 7971 7771 788
Building and construction work beyond real estate development529508508502
Commodity trade etc254298314317
Sea transport abroad and transport via pipelines1228228223222
Transportation and storage1528552550541
Hotels and restaurants1 0671 0571 0411 042
Information and communication684710729737
Real estate, renting and business activities42 67542 50342 44442 326
Professional and financial services1 2781 2771 2511 290
Businesslike services145144143145
Other service activities18 61418 59818 56618 500

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.