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Published: 1 July 2014

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

Outstanding credits granted by other Finnish financial and insurance corporations and general government amounted to EUR 92 billion at the end of March 2014. 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 first quarter of 2014, per cent

Lending by financial asset category at the end of the first 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 million, bonds at nominal prices to EUR 58 billion and money market instruments to EUR seven billion. Of the outstanding credit of EUR ten billion granted by other financial corporations, the share of lending was EUR nine billion, which was 33 per cent of total lending by financial and insurance corporations and general government.

Due to the renewal of the Classification of Sectors 2012, units from the non-financial corporations sector moved to the target group of outstanding credit. At the same time, the target group was revised and the respondent group was updated. The effect of the classification conversion and updating of the target group on the data for the quarter was an increase of around EUR 7.7 billion.

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 nearly EUR two billion

Outstanding credits granted by Finnish lenders to households totalled nearly EUR two billion at the end of March, which is 91 per cent of the credits granted by other financial corporations.

Only 69,145 new small loans were granted during the guarter

During the first quarter of 2014, a total of 69,145 new small loans, or so-called quick loans, were granted to households, amounting to EUR 44 million. During the quarter, 54 per cent fewer new loans were granted than in the corresponding quarter last year, and 22 per cent fewer than in the previous quarter. The average quick loan in the first quarter of the year amounted to EUR 638 and the average repayment period was 84 days.

In total, borrowers of small loans paid close on EUR six million in different types of costs on small loans taken out in January to March. This was 71 per cent less than in the year before. The costs directed at small loans were nearly 14 per cent of the granted new loans during the quarter. In the first quarter of 2014, the statistics included 58 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 1) . As a result of this, some small loan companies closed down their operation and some renewed their services more towards socalled flexible credits.


1) http://www.oikeusministerio.fi/fi/index/ajankohtaista/tiedotteet/2013/03/ pienilleluotoille51prosentin korkokattokesakuunalusta.html

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 1.7.2014

Referencing instructions:

Official Statistics of Finland (OSF): Outstanding credit [e-publication].
ISSN=2342-2661. 1st quarter 2014. Helsinki: Statistics Finland [referred: 28.3.2024].
Access method: http://www.stat.fi/til/lkan/2014/01/lkan_2014_01_2014-07-01_tie_001_en.html