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Published: 14 June 2013

Stock of lending stood at nearly EUR 7 billion at the end of March 2013

The stock of lending by other Finnish financial corporations amounted to nearly EUR 7 billion at the end of the first quarter of 2013. The stock of lending grew by nearly 17 per cent from one year ago and growth from the previous quarter was almost three per cent. This is indicated by Statistics Finland’s statistics on the outstanding credit.

Other financial intermediaries' lending by borrower sector at the end of the 1st quarter in 2013, R%

Business credits totalled EUR 3 billion

Outstanding credits granted by other Finnish financial corporations to businesses, i.e. loans to non-financial corporations and households of own-account workers amounted to good EUR 3 billion at the end of March 2013, where the share of lending was 95 per cent. Credit granting to businesses grew by a total of 7 per cent from the corresponding quarter of the year before, and the stock of lending grew by 5 per cent.

Households' outstanding credit nearly one-quarter of all lending

Credit granted by other financial corporations to households amounted to nearly EUR 2 billion at the end of March, which was almost 2 per cent more than at the end of the corresponding quarter last year. Compared to the previous quarter, households' outstanding credit decreased by nearly one per cent.

The share of households in other financial corporations' total lending was nearly 25 per cent, the share of non-financial corporations and housing corporations was almost 48 per cent, that of the rest of the world was some 24 per cent and that of other borrower sectors was nearly 3 per cent.

EUR 96 million were granted in small loans

During the first quarter of 2013, EUR 96 million in small loans, or so-called quick loans, were granted to households (altogether 350 190 loans). Measured in euros, 8 per cent more new loans were granted during the quarter than in the corresponding quarter last year and good 7 per cent more than in the previous quarter. The average quick loan in the first quarter of the year amounted to EUR 275 and the average repayment period was 38,7 days.

In total, borrowers of small loans paid over EUR 20 million in different types of costs on small loans taken out in January to March. Thus, the costs directed at small loans were nearly 21 per cent of the granted loan capital. In the first quarter of 2013, there were a total of 80 registered small loan companies of which one was new.

Source: Financial activities, Credit stock of other financial intermediaries, 1st quarter 2013, Statistics Finland

Inquiries: Kerttu Helin 09 1734 3330, Kristiina Nieminen 09 1734 2957, rahoitusmarkkinat@stat.fi

Director in charge: Leena Storgård

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Appendix tables

• Appendix table 1. Outstanding credit of other financial institutions by financial asset in 2011-2013, EUR million (14.6.2013)
• Appendix table 2. Credit granted by other financial corporations to households by purpose of use in 2011-2013, EUR million (14.6.2013)
• Appendix table 3. Key figures of small loan companies in 2011-2013 (14.6.2013)

Figures

• Appendix figure 1. Other financial intermediaries' lending by borrower sector at the end of the 1st quarter in 2013, R% (14.6.2013)
• Appendix figure 2. Business loans of other financial intermediaries, R% (14.6.2013)
• Appendix figure 3. New credits and credit stock of small loan companies in 2008 to 2013 (14.6.2013)

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Updated 14.6.2013