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Published: 11 September 2014

Outstanding credit stood at EUR 93 billion at the end of June 2014

Outstanding credits granted by other Finnish financial and insurance corporations and general government amounted to EUR 93 billion at the end of June 2014. Compared with the corresponding quarter of the previous year, credits increased by nine per cent and by one per cent from the previous quarter. The stock of outstanding credits of other financial and insurance corporations and general government covered around 30 per cent of the stock of outstanding credit in the entire national economy. This is indicated by Statistics Finland’s statistics on outstanding credit.

Lending by financial asset category at the end of the second quarter of 2014, per cent

Lending by financial asset category at the end of the second quarter of 2014, per cent
Lendersector: Other financial institutions, insurance corporations and general government

In outstanding credit, the stock of lending in euros and other currencies amounted to EUR 27 billion, bonds at nominal prices to EUR 58 billion and money market instruments to EUR eight billion. Of the outstanding credit of EUR 11 billion granted by other financial corporations, the share of lending was nearly EUR ten billion, which was 36 per cent of total lending by financial and insurance corporations and general government.

The stock of outstanding credit in entrepreneurial activity totalled EUR 18 billion

Credits granted by Finnish lenders to businesses, non-financial corporations and households of own-account workers amounted to EUR 18 billion, of which the share of lending was EUR 12 billion.

Households' outstanding credit was EUR two billion

Outstanding credits granted by Finnish lenders to households totalled EUR two billion at the end of June, of which employee households accounted for 92 per cent.

During the quarter, 108,909 new small loans were granted

During the second quarter of 2014, a total of 108,909 new small loans, or so-called quick loans, were granted to households, amounting to EUR 43 million. During the quarter, 59 per cent fewer new euro-denominated loans were granted than in the corresponding quarter last year, and two per cent fewer than in the previous quarter. The average quick loan in the second quarter of the year amounted to EUR 396 and the average repayment period was 66 days.

In total, borrowers of small loans paid close on EUR five million in different types of costs on small loans taken out in April to June. This was 77 per cent less than in the year before. The costs directed at small loans were nearly 11 per cent of the granted new loans during the quarter. In the second quarter of 2014, the statistics included 47 small loan companies.

The changes in the small loans are the result of a legislation amendment that came into force on 1 June 2013 based on which a 51 per cent interest rate ceiling was placed on small loans. http://www.oikeusministerio.fi/fi/index/ajankohtaista/tiedotteet/2013/03/pienilleluotoille51prosentinkorkokattokesakuunalusta.html As a result of this, some small loan companies closed down their operation and some renewed their services more towards so-called flexible credits.


Source: Outstanding credit, Statistics Finland

Inquiries: Kerttu Helin 029 551 3330, Kristiina Nieminen 029 551 2957, luottokanta.rahoitus@stat.fi

Director in charge: Leena Storgårds

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Updated 11.9.2014

Referencing instructions:

Official Statistics of Finland (OSF): Outstanding credit [e-publication].
ISSN=2342-2661. 2nd quarter 2014. Helsinki: Statistics Finland [referred: 5.11.2024].
Access method: http://www.stat.fi/til/lkan/2014/02/lkan_2014_02_2014-09-11_tie_001_en.html