368953
/en/bank-og-finansmarked/statistikker/banker/maanedsbalanse
368953
statistikk
2019-03-12T08:00:00.000Z
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

1 255

NOK billion in deposits from Households, January 2019

Selected figures. NOK million.
January 2018January 2019
Banks
Loans to households1 439 4211 528 469
Loans to manufacturing industry67 26873 094
Deposits from households1 192 6591 255 207
Mortgage companies
Loans to households1 405 4841 490 850
Loans to manufacturing industry1 0742 116
State lending institutions
Loans to households237 266244 543
Loans to manufacturing industry1 8011 677

See selected tables from this statistics

Table 1 
Banks. Loans by industry. NOK million

Banks. Loans by industry. NOK million
October 2018November 2018December 2018January 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 354 2361 365 4301 371 0401 373 349
 
Agriculture49 84150 34750 74650 923
Forestry3 2273 2563 2413 257
Fishing and hunting31 23131 03831 33232 051
Fish farming services20 73121 24523 02323 397
Mining and quarrying113 00414 17513 03810 728
Services linked to extraction of crude petroleum and natural gas13 3183 2223 2953 189
Extraction of crude petroleum and natural gas16 4204 8085 4265 142
Manufacturing industry71 38272 35071 30973 094
Ship and boat building7 3537 7078 5588 010
Electricity and water supply41 35743 02042 09041 370
Water supply, drainage and waste disposal4 0294 2794 4153 984
Real estate development109 728110 968112 124113 229
Building and construction work beyond real estate development43 49344 19640 26542 502
Commodity trade etc70 68573 21171 29472 221
Sea transport abroad and transport via pipelines156 62759 08261 99160 686
Transportation and storage165 53368 27665 78166 961
Hotels and restaurants12 67212 60312 34012 617
Information and communication18 40718 37318 68318 392
Real estate, renting and business activities572 049576 837583 463582 174
Professional and financial services67 98370 93472 82573 741
Businesslike services36 43936 11136 33236 219
Other service activities38 72939 39339 46839 463

Table 2 
Finance companies. Loans by industry. NOK million

Finance companies. Loans by industry. NOK million
October 2018November 2018December 2018January 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....88 057.
 
Agriculture....3 721.
Forestry....1 060.
Fishing and hunting....118.
Fish farming services....2 212.
Mining and quarrying1....2 030.
Services linked to extraction of crude petroleum and natural gas1....1 441.
Extraction of crude petroleum and natural gas....713.
Manufacturing industry....7 865.
Ship and boat building....139.
Electricity and water supply....284.
Water supply, drainage and waste disposal....1 357.
Real estate development....280.
Building and construction work beyond real estate development....14 879.
Commodity trade etc....9 744.
Sea transport abroad and transport via pipelines1....9 319.
Transportation and storage1....11 363.
Hotels and restaurants....792.
Information and communication....2 727.
Real estate, renting and business activities....2 075.
Professional and financial services....2 797.
Businesslike services....9 478.
Other service activities....3 661.

Table 3 
Mortgage companies. Loans by industry. NOK million

Mortgage companies. Loans by industry. NOK million
October 2018November 2018December 2018January 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 industries141 913142 388141 882142 423
 
Agriculture2 2542 2992 3452 352
Forestry199205207204
Fishing and hunting201211232240
Fish farming services50525251
Mining and quarrying127262630
Services linked to extraction of crude petroleum and natural gas133333333
Extraction of crude petroleum and natural gas........
Manufacturing industry1 9942 0242 0632 116
Ship and boat building63646767
Electricity and water supply210209219219
Water supply, drainage and waste disposal5 8095 8285 8175 844
Real estate development2 8412 8882 8812 843
Building and construction work beyond real estate development3 6783 7673 7863 845
Commodity trade etc2 1142 1462 1252 161
Sea transport abroad and transport via pipelines14 7504 6204 2254 133
Transportation and storage19 9289 8019 4449 563
Hotels and restaurants9969821 0001 003
Information and communication802815823828
Real estate, renting and business activities92 87493 17493 13893 982
Professional and financial services3 1583 1983 2253 164
Businesslike services2 5402 5942 6422 644
Other service activities7 3937 4537 5337 100

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

State lending institutions. Loans by industry. NOK million
October 2018November 2018December 2018January 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 71981 00580 91880 884
 
Agriculture4 5034 4984 4584 421
Forestry95959496
Fishing and hunting6 2436 2296 4036 389
Fish farming services502574569570
Mining and quarrying127272828
Services linked to extraction of crude petroleum and natural gas10000
Extraction of crude petroleum and natural gas........
Manufacturing industry1 6111 5931 6991 677
Ship and boat building255253223194
Electricity and water supply132140139139
Water supply, drainage and waste disposal6666
Real estate development1 7471 7351 7431 741
Building and construction work beyond real estate development573563565566
Commodity trade etc210213215218
Sea transport abroad and transport via pipelines1229235235235
Transportation and storage1561551537536
Hotels and restaurants1 040995995983
Information and communication575614626639
Real estate, renting and business activities42 76242 99242 54442 418
Professional and financial services1 2511 2571 2971 272
Businesslike services140140140143
Other service activities18 25718 29618 40218 615

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.