Home > Statistics > Outstanding credit > 2014 > 3rd quarter > Outstanding credit stood at EUR 92 billion at the end of September 2014

Published: 5 December 2014

Outstanding credit stood at EUR 92 billion at the end of September 2014

Outstanding credits granted by other Finnish financial and insurance corporations and general government amounted to EUR 92 billion at the end of September 2014. Finnish companies garanted a total of EUR two billion in new credits during the quarter. This is indicated by Statistics Finland’s statistics on outstanding credit.

Lending by financial asset category at the end of the third guarter of 2014, per cent

Lendersector: Other financial institutions, insurance corporations and general government

In outstanding credit, the total stock of lending in euros and other currencies amounted to EUR 27 billion, bonds at nominal prices to nearly EUR 59 billion and money market instruments to EUR six billion. The share of other financial corporations in all new credits was nearly 84 per cent.

Amon lenders, other financial corporations granted EUR four billion in credits to business activities

Credits granted by other Finnish financial corporations, excluding insurance corporations and general government, to businesses, non-financial corporations and households of own-account workers amounted to EUR four billion, of which the largest share, nearly 46 per cent, was directed at primary production and 26 per cent at manufacturing.

Households’ outstanding credit was EUR two billion

The credit stock granted by other Finnish financial corporations, excluding insurance corporations and general government, stood at EUR two billion at the end of September, of which consumption credits accounted for 94 per cent.

During the quarter, 100,581 new small loans were garanted

During the third quarter of 2014, a total of 100,581 new small loans, or so-called quick loans, were granted to households, amounting to nearly EUR 39 million. During the quarter, 41 per cent fewer new euro-denominated loans were granted than in the corresponding quarter last year, and ten per cent fewer than in the previous quarter. The average quick loan in the third quarter of the year amounted to EUR 384 and the average repayment period was 84 days.

In total, borrowers of small loans paid EUR six million in different types of costs on small loans taken out in July to September. This was 49 per cent less than in the year before. The costs directed at small loans were nearly 16 per cent of the granted new loans during the quarter. In the third quarter of 2014, the statistics included 48 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, Elina Somervuori 029 551 2995, luottokanta.rahoitus@stat.fi

Director in charge: Leena Storgårds

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Appendix tables

• Appendix table 1. Outstanding credit by financial asset in 2012-2014, EUR million (5.12.2014)
• Appendix table 2. Credit granted by other financial corporations to households by purpose of use in 2012-2014, EUR million (5.12.2014)
• Appendix table 3. Key figures of small loan companies in 2012-2014, EUR million (5.12.2014)

Figures

• Appendix figure 1. Lending by financial asset category at the end of the third guarter of 2014, per cent (5.12.2014)
• Appendix figure 2. Business loans of other financial intermediaries, percent (5.12.2014)
• Appendix figure 3. New credits and credit stock of small loan companies in 2012 to 2014 (5.12.2014)

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Updated 5.12.2014