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Published: 5 December 2013

Other financial corporations´ stock of lending was EUR 7 billion at the end of September 2013

The stock of lending by other Finnish financial corporations remained unchanged in the third quarter of 2013. At the end of the third quarter of 2013, the stock of lending amounted to EUR 7 billion. The stock of lending grew by 14 per cent from one year ago and growth from the previous quarter was only around one per cent. This is indicated by Statistics Finland’s statistics on outstanding credit.

Other financial corporations' lending by borrower sector at the end of the 3rd quarter of 2013, R%

Other financial corporations' lending by borrower sector at the end of the 3rd quarter of 2013, R%

Business credits totalled EUR 3 billion

Outstanding credits granted by other Finnish financial corporations to businesses, non-financial corporations and households of own-account workers amounted to EUR three billion at the end of September 2013, where the share of lending was 95 per cent. Credit granting to businesses grew by nearly five per cent from the corresponding quarter of the year before, and the stock of lending grew by one per cent.

Households ´ outstanding credit EUR 2 billion of all lending

Credit granted by other financial corporations to households amounted to EUR two billion at the end of September, which was nine per cent less than at the end of the corresponding quarter last year. Households' outstanding credit consists to 99 per cent of consumption credits. New credits granted by other financial corporations to households during January to September totalled EUR 1.4 billion. Compared to the corresponding quarter of the previous year the growth amounted to 22.5 per cent.

Only EUR 65 million were granted in small loans

During the third quarter of 2013, EUR 65 million in small loans, or so-called quick loans, were granted to households (altogether 186,530 loans). Measured in euros, 39 per cent less new loans were granted during the quarter than in the corresponding quarter last year and 38 per cent less than in the previous quarter. The average quick loan in the third quarter of the year amounted to EUR 348 and the average repayment period was 93.7 days.

The changes in the small loans is 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.

In total, borrowers of small loans paid EUR 12 million in different types of costs on small loans taken out in January to September. Thus, the costs directed at small loans were nearly 19 per cent of the granted loan capital. In the third quarter of 2013, the statistics included 76 small loan companies.


1) http://www.oikeusministerio.fi/sv/index/aktuellt/tiedotteet/2013/03/ pienilleluotoille51prosentinkorkokattokesakuunalusta.html

Source: Financial activities, Credit stock of other financial intermediaries, 3rd quarter 2013, Statistics Finland

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

Director in charge: Leena Storgårds

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Updated 5.12.2013

Referencing instructions:

Statistics: Financial activities [e-publication].
ISSN=2323-9867. 3rd quarter 2013. Helsinki: Statistics Finland [referred: 28.3.2024].
Access method: http://www.stat.fi/til/rato/2013/03/rato_2013_03_2013-12-05_tie_001_en.html