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More money in the bank
statistikk
2015-10-02T10:00:00.000Z
Banking and financial markets
en
orbofbm, Financial corporations, balance sheet, banks, mortgage companies, finance companies, state lending institutions, loans, deposits, financing, mortgages, bonds, commercial papers, shares, ownership interest, assets, liabilities, foreign banks, borrowers, balancesFinancial institutions and other financial corporations, Banking and financial markets
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Financial corporations, balance sheet, August 2015

As from 2016 the statistics is published with Banks and mortgage companies.

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More money in the bank

Total deposits in Norwegian banks amounted to NOK 3 385 billion at the end of August, up 16 per cent from end-August last year. The growth in deposits from Norwegian households was strongest among the domestic sectors.

Balance sheet. Selected figures. NOK million and per centPublished 2 October 2015
August 2014August 2015August 2014 - August 2015
Banks
Bank total assets4 275 3665 001 48517.0
Deposits2 920 2163 384 91715.9
Loans3 128 8273 581 00714.5
Mortgage companies
Bank total assets1 788 1411 983 05611
Loans1 482 3771 568 0915.8

Source: Statistics Norway

Figure 1. Banks. Total deposits and twelve-month growth

Deposits from Norwegian households totalled NOK 1 077 billion at end-August, up from NOK 1 012 billion at end-August the previous year, which is an increase of 6.4 per cent. The households’ deposits constituted a share of 32 per cent of total deposits at end-August.

Bank deposits from domestic non-financial corporations amounted to NOK 624 billion at end-August, up from NOK 602 billion at end-August last year, which equals a twelve-month growth in deposits of 3.6 per cent. Deposits from domestic non-financial corporations constituted a share of 18 per cent of total deposits at end-August.

Largest share of deposits from foreign sources

At end-August, the deposits from foreign sources amounted to NOK 1 307 billion, which equals a share of 39 per cent of total deposits. Deposits from foreign banks and other financial corporations constituted a share of 87 per cent of foreign deposits at end-August. Interbank loans from foreign sources fluctuate from month to month, and are also affected by changes in exchange rates.

Households place most in transaction deposits

Total transaction deposits amounted to NOK 2 131 billion at end-August. Domestic households and non-financial corporations accounted for NOK 966 billion and NOK 515 billion of these deposits respectively. As a share of total transaction deposits, this constituted 45 and 24 per cent respectively.

Other deposits totalled NOK 1 254 billion at end-August, of which domestic households and domestic non-financial corporations accounted for approximately NOK 110 billion each.

New specifications on depositsOpen and readClose

From April 2015, a new specification of deposits was implemented in the banks’ reporting of deposits. This causes a break in time series for stocks by types of deposits, which means that the time series from April this year are not comparable to previous periods.

The background for the new specification of deposits was a restructuring of the monetary aggregate statistics according to the ECB’s guidelines. For more information, please see ‘Pengemengdestatistikken 2015’ (in Norwegian only).

Change in definition of deposit typesOpen and readClose

Transaction deposits increased by NOK 774 billion or 63 per cent from March to April, while other deposits declined by NOK 833 billion or 44 per cent. These large changes are a result of the new specification of transaction deposits and other deposits.

The definition of other deposits is now stricter than before, and requires that there is a fixed maturity and/or notice of withdrawal or a predetermined purpose. As a result, several types of savings accounts have been transferred from other deposits to transaction accounts.