In January-July 2015, new drawdowns of euro-dominated corporate loans by domestic non-financial corporations (excl. housing corporations) were modest, totalling EUR 11.5 bn. This was slightly less than in the corresponding period in 2014. A comparison of industries reveals that the demand for corporate loans was highest in manufacturing, particularly in the metal industry and the manufacture of machinery and equipment1. However, the loan amounts declined notably from the previous year. Loan drawdowns by manufacturing companies in January-July totalled EUR 2.1 bn, which was more than 40% less than in the year-earlier period.

In real estate activities, which include e.g. companies engaged in the selling, buying as well as renting of real estates, drawdowns of euro-dominated corporate loans, in turn, increased in January-July by over 40% on the year-earlier period. Consequently, corporate loan drawdowns by real estate companies were almost equal to those in manufacturing. Loans to real estate companies account for the largest share (28%) of the stock of loans to non-financial corporations. 

Even though drawdowns of corporate loans have declined, the growth rate of the stock of domestic euro-denominated corporate loans (excl. loans to housing corporations) increased slightly in the early part of the year, from 3.9% at end-2014 to 4.8% in July 2015. With loans to housing corporations included, the corporate loan stock grew at a steady rate of around 7% in the early part of the year.   


In July, households’ new drawdowns of housing loans amounted to EUR 1.3 bn, which was slightly more than a year earlier in July. The average interest rate on new housing-loan drawdowns was 1.5% in July 2015. The stock of euro-denominated housing loans totalled EUR 90.9 bn at the end of July, and the annual growth rate of the housing loan stock was 2.1%. At end-July, household credit comprised EUR 14.0 bn in consumer credit and EUR 15.8 bn in other loans. 

New drawdowns of loans to non-financial corporations (excl. overdrafts and credit card credit) amounted in July to EUR 2.4 bn. The average interest rate on new corporate-loan drawdowns rose slightly from June, to 1.77%. The stock of euro-denominated loans to non-financial corporations at the end of July was EUR 71.1 bn, of which loans to housing corporations accounted for EUR 22.4 bn. 


At the end of July, the stock of household deposits totalled EUR 81.8 bn, and the average interest rate on deposits was 0.32%. Overnight deposits accounted for EUR 57.1 bn of the total deposit stock and deposits with agreed maturity for EUR 11.4 bn. In July, households concluded EUR 0.7 bn of new agreements on deposits with agreed maturity. The average interest rate on these decreased from June, to 0.94% in July.

1 Manufacture of machinery and equipment comprises the manufacture of computer, electronic and optical products, electrical equipment and machinery and equipment not elsewhere classified.


MFIs comprise all monetary financial institutions operating in Finland. 
Loans and deposits comprise all euro-denominated loans and deposits vis-à-vis the euro area as a whole, with countries other than Finland accounting for a very small share of total volumes.

Key figures of Finnish MFIs' loans and deposits, preliminary data

  May, EUR million June, EUR million July, EUR million July, 12-month change1, % Average interest rate, %
Loans to households2, stock 119,800 120,349 120,684 2,3 1,79
    - of which housing loans 90,456 90,717 90,934 2,1 1,30
Loans to non-financial corporations2, stock  70,572 71,020 71,116 7,5 1,69
Deposits by households2, stock 82,154 81,911 81,771 0,3 0,32
Households' new drawdowns of housing loans 1,469 1,597 1,333 1,50

1 Rate of change has been calculated from monthly differences in levels adjusted for classification and other revaluation changes. 
2 Households also include non-profit institutions serving households; non-financial corporations also include housing corporations.

For further information, please contact
Johanna Honkanen, tel. +358 10 831 2992, email: johanna.honkanen(at)

The next news release will be published at 1 pm on 30 September 2015.

Related statistical data and graphs are also available on the Bank of Finland website:

You can also subscribe to the monthly Loans, deposits and interest rates –newsletter to your email from the Bank of Finland website.