385944
/en/bank-og-finansmarked/statistikker/banker/maanedsbalanse
385944
statistikk
2019-09-09T08:00:00.000Z
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

1 329

NOK billion in deposits from Households, July 2019

Selected figures. NOK million.
July 2018July 2019
Banks
Loans to households1 512 0821 485 127
Loans to manufacturing industry73 49676 293
Deposits from households1 260 2511 328 518
Mortgage companies
Loans to households1 422 2571 625 317
Loans to manufacturing industry1 1262 298
State lending institutions
Loans to households238 665240 455
Loans to manufacturing industry1 6421 763

See selected tables from this statistics

Table 1 
Banks. Loans by industry. NOK million

Banks. Loans by industry. NOK million
April 2019May 2019June 2019July 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 427 6791 433 5311 439 8461 442 327
 
Agriculture50 16150 58250 84551 304
Forestry3 3663 4183 4313 421
Fishing and hunting32 50732 79232 86433 005
Fish farming services21 86522 32722 57522 970
Mining and quarrying110 77210 84511 01110 735
Services linked to extraction of crude petroleum and natural gas13 1963 2763 0492 915
Extraction of crude petroleum and natural gas7 7867 3895 3116 278
Manufacturing industry73 14875 67077 39776 293
Ship and boat building8 0988 8358 1008 130
Electricity and water supply43 16843 83943 13445 034
Water supply, drainage and waste disposal3 6633 6753 8524 410
Real estate development122 275122 728122 016121 051
Building and construction work beyond real estate development44 97647 33746 29345 895
Commodity trade etc79 75478 49876 52173 114
Sea transport abroad and transport via pipelines160 92561 17556 69257 610
Transportation and storage166 34467 74167 60469 264
Hotels and restaurants13 47014 26513 73614 405
Information and communication20 25620 61720 48320 370
Real estate, renting and business activities603 386597 506614 791615 010
Professional and financial services79 05780 65782 17984 565
Businesslike services38 97739 27936 40634 552
Other service activities40 52941 08041 55741 995

Table 2 
Mortgage companies. Loans by industry. NOK million

Mortgage companies. Loans by industry. NOK million
April 2019May 2019June 2019July 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 613128 445128 252127 854
 
Agriculture2 4172 4342 3202 330
Forestry212225228233
Fishing and hunting249263266272
Fish farming services48476362
Mining and quarrying130384048
Services linked to extraction of crude petroleum and natural gas133333434
Extraction of crude petroleum and natural gas........
Manufacturing industry2 2032 2222 2482 298
Ship and boat building69676463
Electricity and water supply211210211222
Water supply, drainage and waste disposal6 0406 0656 0646 044
Real estate development1 3101 014989972
Building and construction work beyond real estate development3 8993 9724 0714 070
Commodity trade etc2 1312 0872 2052 242
Sea transport abroad and transport via pipelines13 7323 5883 0913 081
Transportation and storage19 2619 2419 2539 177
Hotels and restaurants806753760767
Information and communication862856890884
Real estate, renting and business activities82 15882 14682 22981 912
Professional and financial services3 1383 3113 2863 220
Businesslike services2 7202 7662 8282 854
Other service activities7 0857 1077 1147 069

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

State lending institutions. Loans by industry. NOK million
April 2019May 2019June 2019July 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 25780 97480 82680 532
 
Agriculture4 3604 3414 3364 311
Forestry93929193
Fishing and hunting6 4146 3446 3576 356
Fish farming services595529531522
Mining and quarrying130292936
Services linked to extraction of crude petroleum and natural gas10-1-1-1
Extraction of crude petroleum and natural gas........
Manufacturing industry1 7651 7661 7501 763
Ship and boat building186185179178
Electricity and water supply135135134134
Water supply, drainage and waste disposal99910
Real estate development1 7971 7771 7881 768
Building and construction work beyond real estate development508508502501
Commodity trade etc298314317319
Sea transport abroad and transport via pipelines1228223222222
Transportation and storage1552550541535
Hotels and restaurants1 0571 0411 0421 038
Information and communication710729737744
Real estate, renting and business activities42 50342 44442 32641 960
Professional and financial services1 2771 2511 2901 353
Businesslike services144143145144
Other service activities18 59818 56618 50018 548

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.