399383
/en/bank-og-finansmarked/statistikker/banker/maanedsbalanse
399383
statistikk
2020-11-13T08:00:00.000Z
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

1 437

NOK billion in deposits from Households, September 2020

Selected figures. NOK million.
September 2019September 2020
Banks
Loans to households1 498 3821 506 246
Loans to manufacturing industry77 56076 148
Deposits from households1 318 1961 437 217
Mortgage companies
Loans to households1 639 5741 783 309
Loans to manufacturing industry2 3532 465
State lending institutions
Loans to households245 307256 066
Loans to manufacturing industry1 7761 787

See selected tables from this statistics

Table 1 
Banks. Loans by industry. NOK million

Banks. Loans by industry. NOK million
June 2020July 2020August 2020September 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 512 7681 498 8191 512 1371 526 229
 
Agriculture53 31053 79053 87254 013
Forestry4 4274 3974 3754 419
Fishing and hunting36 29836 07236 10136 354
Fish farming services26 91326 79029 91532 274
Mining and quarrying19 3569 0739 0719 025
Services linked to extraction of crude petroleum and natural gas12 5072 2822 5582 517
Extraction of crude petroleum and natural gas11 45311 70210 06210 174
Manufacturing industry77 01175 59475 64176 148
Ship and boat building6 7226 0526 5195 926
Electricity and water supply46 34445 29947 24049 118
Water supply, drainage and waste disposal7 2967 3887 3337 676
Real estate development127 100127 197128 439131 996
Building and construction work beyond real estate development46 07345 24046 02044 768
Commodity trade etc70 26865 79165 13765 342
Sea transport abroad and transport via pipelines165 40462 30862 74464 612
Transportation and storage165 60465 18064 74164 890
Hotels and restaurants18 63318 18417 98318 135
Information and communication19 23019 29219 59120 504
Real estate, renting and business activities646 673646 538653 325654 100
Professional and financial services88 93486 72687 58388 778
Businesslike services39 44639 79940 01939 969
Other service activities43 76844 12443 86745 488

Table 2 
Mortgage companies. Loans by industry. NOK million

Mortgage companies. Loans by industry. NOK million
June 2020July 2020August 2020September 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 industries131 352129 178126 479128 442
 
Agriculture2 5762 5532 5862 628
Forestry244253258255
Fishing and hunting279271270277
Fish farming services142140140139
Mining and quarrying157586061
Services linked to extraction of crude petroleum and natural gas134343434
Extraction of crude petroleum and natural gas........
Manufacturing industry2 4542 4282 4642 465
Ship and boat building56495253
Electricity and water supply244193190190
Water supply, drainage and waste disposal6 0316 0246 0095 994
Real estate development9401 106833830
Building and construction work beyond real estate development4 3194 0774 0854 157
Commodity trade etc2 0791 8031 9101 932
Sea transport abroad and transport via pipelines11 7141 7951 5501 302
Transportation and storage18 6088 2428 3328 247
Hotels and restaurants514498488479
Information and communication724644672668
Real estate, renting and business activities87 78987 01384 74186 482
Professional and financial services2 8942 9282 5862 618
Businesslike services2 7012 4592 6732 723
Other service activities6 9536 6096 5466 909

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

State lending institutions. Loans by industry. NOK million
June 2020July 2020August 2020September 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 94279 87578 78178 912
 
Agriculture4 2354 2784 2894 320
Forestry78787877
Fishing and hunting6 2256 1416 1576 167
Fish farming services856846848844
Mining and quarrying132333333
Services linked to extraction of crude petroleum and natural gas1-9-9-9-9
Extraction of crude petroleum and natural gas........
Manufacturing industry1 6621 7191 7431 787
Ship and boat building289289288286
Electricity and water supply121122122119
Water supply, drainage and waste disposal21212121
Real estate development1 6751 6681 6621 658
Building and construction work beyond real estate development456456459475
Commodity trade etc301297305331
Sea transport abroad and transport via pipelines130292928
Transportation and storage1550551547551
Hotels and restaurants1 5011 4971 4981 500
Information and communication8859079601 014
Real estate, renting and business activities41 17340 90240 74140 712
Professional and financial services1 2771 3191 3491 371
Businesslike services143274411427
Other service activities18 44018 45717 25017 198

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

Amendments to the Accounting Act and regulations
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 in the financial sector
There are several new companies, acquisitions, mergers, spin-offs, reclassifications and portfolio movements 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.

Regulation on loans
The IFRS-adapted regulation on loans was introduced 1. January 2005. Which led 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 was also a breach in the time series on loans in 1992 due to changes in accounting rules.

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

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

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 for several industries.

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

New specifications of deposits
As of April 2015, new deposit specifications were introduced in the balance sheet reporting. Some deposit series from the periods prior to April 2015 are therefore not comparable with later periods. See this article for more information: https://www.ssb.no/bank-og-finansmarked/artikler-og-publikasjoner/pengemengdestatistikken

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 is the basis for this statistic. This was an extensive restructuration and implied change of definitions in the 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.