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Contactless was the most prevalent way of card payment in Q1/2023 In the first quarter of 2023, a total of 513 million card payments were made using Finnish payment cards, which was 7% fewer than in the last quarter of 2022. The aggregate value of card payments also decreased 10% from the last quarter of 2022 to stand at EUR 15.1 billion in the first quarter of 2023.
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Popularity of fixed income investments increased In the wake of rising interest rates, the popularity of deposits with an agreed maturity has grown among Finnish households.
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Corporate loan drawdowns continued as usual in March despite higher interest rates In March 2023, Finnish non-financial corporations[1] drew down a total of EUR 1.8 billion of new loans from credit institutions operating in Finland.
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Volume of crowdfunding and P2P lending decreased significantly from previous year in 2022 In 2022, the volume of funding mediated to consumers and non-financial corporations on peer-to-peer (P2P) and crowdfunding platforms covered by Finnish statistics amounted to EUR 230.4 million. This was the lowest volume in the history of the statistics (2017–2022). The volume of P2P lending and loan-based crowdfunding decreased significantly from 2021.
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Housing loan stock growing at an exceptionally slow rate In February 2023, the year-on-year rate of growth of the stock of households’ housing loans[1] (EUR 107.9 billion) slowed down to 0.6%, having stood at 3.8% just a year earlier.
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Almost a fifth of households’ consumer credit originated by OFIs In the last quarter of 2022, households drew down EUR 80 million of unsecured consumer credit from other financial institutions (OFIs),[1] which was a little more than in the corresponding period a year earlier.
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Drawdowns of student loans brisk despite higher interest rates In January 2023[1], drawdowns of student loans totalled EUR 335 million, a decline of 4% on January last year.
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Investment fund capital decreased materially in 2022 After record growth in 2021, the fund capital of Finnish investment funds[1] decreased materially in 2022.
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Interest rates on corporate loans rose sharply in 2022 Non-financial corporations[1] drew down new loans from banks operating in Finland to a total of EUR 2.8 billion in December 2022, slightly more than in net terms on average in December[2].
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Funds held in transaction accounts decreasing – popularity of deposits with agreed maturity increasing At the end of November 2022, the stock of household deposits totalled EUR 112.0 billion, the lowest level since March 2022.
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October 2022 sees exceptionally low level of housing loan drawdowns -
Market value of listed Finnish equities and debt securities declined in 2022 -
Average interest rate on new household deposits with agreed maturity rose in September -
Exceptionally large volume of corporate loans drawn down -
Average interest rate on new corporate loans granted by other financial institutions in Q2/2022 almost 8% -
Drawdowns of new housing loans decline in July from the same month in previous years -
Growth of household deposit stock decelerated -
June 2022 saw a decrease in holiday cottage loan drawdowns from the year earlier -
Considerably higher new drawdowns of unsecured consumer credit in May than before -
New drawdowns of investment property loans decreased more than those of owner-occupied housing loans
Statistical news
‘Statistical news’ is published regularly for each subject area. The ‘Publication calendar’ provides information on future publications. The most recent statistical news can be found at the top. You can also search old statistical news in news history.
