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  • Number of card payments increased in the first quarter of 2024

    In the first quarter of 2024, a total of 547 million card payments were made using Finnish payment cards, which was 31 million (6%) more than in the same period a year earlier. The aggregate value of card payments declined 7% from the last quarter of 2023 to stand at EUR 16.5 billion.

    Statistics
  • Demand for investment property loans has picked up slightly

    Drawdowns of new investment property loans in March–April 2024 totalled EUR 210 million, an increase of 14% year on year. The year-on-year contraction of the household loan stock as a whole (EUR 106.0 billion) continued (‑1.2%) as the owner-occupied housing loan stock (EUR 97.3 billion) contracted by ‑1.3%. Overall, drawdowns of housing loans remained exceptionally low in April 2024.

    Statistics
  • Foreign equities have outperformed Finnish equities in the past year

    At the end of March 2024, Finnish households owned listed equities worth EUR 46.3 billion, as opposed to EUR 47.3 billion a year earlier. Most (86%) of Finns’ listed shareholdings consist of Finnish companies’ equities.  The return on domestic equities held by households amounted to -4.6% in the past 12 months, i.e. from April 2023 to the end of March 2023. In the same period, the return on foreign equities was 17.1%.

    Statistics
  • March 2024 sees modest level of corporate loan drawdowns
    Statistics

    In March 2024, non-financial corporations (excl. housing corporations) drew down new loans[1] from banks operating in Finland to a total of EUR 1.1 billion – the smallest amount in March since 2011. The average interest rate on new corporate loans fell slightly from February 20204, to 5.55% in March. Nearly half of the new corporate loans were taken out by companies in the sectors with the largest amounts of outstanding loans, namely real estate and manufacturing companies. The majority (67%) of the new corporate loans drawn down in March were loans of over EUR 1 million. Of the new corporate loans taken out in March, 40% were with a maturity of over 5 years, and the average interest rate on these loans was 5.22

  • Volume of crowdfunding decreased significantly in 2023 from the previous year
    Statistics

    In 2023, the volume of funding mediated to domestic seekers of finance on crowdfunding platforms covered by Finnish statistics amounted to EUR 70.7 million. P2P loans were no longer mediated to private individuals at all in 2023. In 2023, loan-based crowdfunding mediated to Finnish non-financial corporations amounted to EUR 61.3 million, 53% less than in 2022. Investment-based crowdfunding mediated to domestic seekers of finance amounted to EUR 9.0 million.

  • Growth of housing corporations’ loan stock has slowed down
    Statistics

    At the end of February 2024, the loan stock of housing corporations stood at EUR 43.9 billion. At the end of 2023, EUR 22.8 billion of these loans were payable by households, accounting for 52% of all housing corporation loans. Due to the rise in interest rates and slowdown in construction, the rate of growth of the housing corporation loan stock has slowed down abruptly.

  • Stock of consumer credit granted by OFIs contracted in 2023
    Statistics

    At the end of 2023, the stock of consumer credit granted by other financial institutions (OFIs) to Finnish households stood at EUR 4.7 billion, 3% less than a year earlier. Almost 90% of consumer credit consists of vehicle loans.

  • In the last quarter of 2023, more card payments were made than in the year before
    Statistics

    The aggregate value of card payments amounted to EUR 17.7 billion in the last quarter, which was 6% more than a year earlier. A total of 98 million card payments were initiated on a computer or mobile device in the last quarter of 2023, which was 21% more than in the last quarter of the previous year. The aggregate value of remote card payments (EUR 3.8 billion) was 24% more than in the corresponding period a year earlier. The aggregate value of payments made in other euro area countries using Finnish payment cards totalled EUR 1.4 billion in the last quarter of 2023, which was 14% more than in the last quarter a year earlier.

  • Drawdowns of student loans decreased in January year on year
    Statistics

    In January 2024,  drawdowns of student loans totalled EUR 279 million, representing a decline of 17% on the corresponding period last year. The average interest rate on student loans drawn down in January 2024 was 4.46%. This is the highest average interest rate on new student loan drawdowns since November 2008.

  • Popularity of higher-interest deposits increased
    Statistics

    In the wake of rising interest rates, Finnish households have moved their funds to higher-interest deposit accounts. In the course of 2023, households moved EUR 7.3 of their funds to deposit accounts with an agreed maturity and a little over EUR 2 billion to investment deposit accounts .

  • Amount of non-performing loans in the construction sector has grown further
    Statistics

    At the end of December 2023, a total of 5.6% (EUR 160 million) of the stock of loans granted by banks to Finnish companies in the construction sector were non-performing loans (NPLs). NPL ratios for loans to the entire non-financial corporations sector have remained low. At the end of December 2023, NPLs accounted for EUR 1.2 billion, or 1.9%, of the stock of bank loans to non-financial corporations (EUR 62.0 billion).

  • Housing loan drawdowns increased from a year earlier in November
    Statistics

    Drawdowns of new housing loans totalled EUR 1.2 billion in November 2023, up 5% on the same month a year earlier. The average interest rate on new housing loans declined from October 2023 and stood at 4.63% in November 2023.

  • Value and number of remote card payments increased in the third quarter of 2023
    Statistics

    All in all, Finnish payment cards were used to make 0.6 billion card payments in the third quarter of 2023, which was 10% more than in the same period last year. The aggregate value of remote card payments (EUR 3.9 billion) grew 35% year-on-year.

  • October 2023 sees low amount of corporate loan drawdowns
    Statistics

    In October 2023, non-financial corporations (excl. housing corporations) drew down new loans[1] from banks operating in Finland to a total of EUR 1.3 billion – the smallest amount in October since 2010. Most (55%) of the corporate loans drawn down were with a maturity of over 1 and up to 5 years, and the average interest rate on these loans was 5.68%. Due to the low level of drawdowns, the stock of corporate loans (EUR 58.5 billion) contracted in October by 3.0% from a year earlier.

  • Bond funds have become increasingly popular
    Statistics

    In January–September 2023, the fund capital has grown again. At the end of September 2023, it stood at EUR 146.3 billion. In January–September 2023, the largest subscriptions were made from bond funds.

  • Growth of e-commerce showed in card payments
    Statistics

    In 2022, the number of card payments initiated on a computer or mobile device increased by a third, and their total volume grew 41% year on year. Of these payment transactions, 90% were made on e-commerce platforms. The most common type of payment card used by Finns in e-commerce purchases is a debit card.

  • Households have moved assets to deposit accounts with higher interest rates
    Statistics

    With the rise in interest rates, the popularity of deposits with agreed maturity and of investment deposits has increased among Finnish households, while the popularity of overnight deposits has decreased. At the end of September 2023, the average interest rate on the household deposit stock was 0.91%, compared with 0.05% in September a year earlier.

  • Amount of non-performing loans in the construction sector grew in August
    Statistics

    At the end of August 2023, a total of 4.1% of the stock of loans granted to Finnish companies in the construction sector was classified as non-performing. The share of non-performing loans rose by 0.9 percentage points from July. In August 2023, non-performing loans accounted for 1.9% of the entire corporate loan stock (EUR 62.0 billion). Impairments and credit losses recognised on loans granted to companies in the construction sector have also increased this year.

  • Number of card payments grew in the second quarter of 2023
    Statistics

    In the second quarter of 2023, a total of 595 million card payments were made using Finnish payment cards. The aggregate value of remote card payments (EUR 3.5 billion) was 21% higher than in the corresponding period a year earlier. The aggregate value of payments made in other euro area countries using Finnish payment cards totalled EUR 1.4 billion in the second quarter of 2023, which was 20% more than in the first quarter.

  • Average interest rate on corporate loans granted by other financial institutions over 9%
    Statistics

    In the second quarter of 2023, Finnish non-financial corporations drew down new corporate loans from other financial institutions (OFIs) to a total of EUR 990 million. In the second quarter of 2023, among the non-financial corporations that drew down loans from OFIs, micro and small enterprises were the largest borrower group. At the end of June 2023, the stock of corporate loans granted by OFIs grew at an annual rate of 2.8%, compared with 12.4% in the corresponding period a year earlier.