Norfund’s bank deposits are grants used to fulfil Norfund’s mandate and to administer operations. Bank deposits include ear-marked grants from UD to be used for investments within Norfund’s various mandates. See note 1 for more information concerning accounting policies.
| Bank deposits, cash and cash equivalents | ||
|---|---|---|
| (Figures in 1000s of NOK) | 2024 | 2023 |
| Deposits in Norges Bank | 3,749,482 | 3,817,751 |
| Tax deductions | 47,403 | 21,679 |
| Deposits from other banks | 2,660,368 | 1,139,859 |
| Total bank deposits | 6,457,254 | 4,979,289 |
| The following bank deposits are earmarked for: | ||
| Business Support and other grant schemes (see Note 15) | 42,847 | 175,505 |
| Frontier Facility (see Note 10) | 176,483 | 0 |
| Climate Investment Fund | 2,516,547 | 2,309,231 |
Accounting principles
Bank deposits are measured mainly at fair value on the income statement. Interest earned on the deposits at year-end is included in the balance sheet, and unrealized exchange rate gains/losses on this are carried as financial income/expenses. Interest income on liquidity reserves in Norges Bank and other banks is carried as financial income; see Note 8.