Monthly news 30 April 2010
Loans
In March, households’ new drawdowns of housing loans amounted to EUR 1.5 billion, up by 19% on February and 6% on March 2009. The average interest rate on new housing-loan drawdowns was 1.90%. The stock of MFI housing loans to households grew by EUR 0.3 billion on February, to EUR 72.6 billion at end-March. The annual growth rate of the housing loan stock slowed to 6.6%, from 6.8% in February. The average interest rate on the stock of housing loans continued to fall in March, to 1.96%.
New corporate loan agreements were made in March to a total value of EUR 6.7 billion, up by 23% on February and 4% on March 2009. The average interest rate on new coprorate loan agreements rose to 2.15%, from 2.09% in February. The stock of euro-denominated corporate loans increased for the third consecutive month, by EUR 0.1 billion on February, to EUR 55.2 billion at end-March. At year-on-year level, the corporate loan stock contracted by 2.5% in March, compared to a fall of 2.9% in February. The average interest rate on the corporate loan stock dropped to 2.24%.
Deposits
The stock of household deposits increased by EUR 0.16 billion on February, to EUR 74.5 billion at end-March. The growth was attributable to deposits with agreed maturity, the stock of which began to climb in early 2010, having contracted for almost a year. The average interest rate on new deposits with agreed maturity was 1.53%. The annual growth rate of the stock of household deposits rose to 0.9 % in March, and the average interest rate on the stock increased to 0.79%.
More information:
Elina Salminen, tel. +358 10 831 2343, email: elina.salminen(at)bof.fi
Olli Alanko, tel. +358 10 831 2456, email: olli.alanko(at)bof.fi
The next bulletin will be published at 4 pm on Monday 31 May 2010.
The related statistical data and and charts and tables are available on the Bank of Finland website at http://www.bof.fi/en/tilastot/tase_ja_korko/index.htm