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. The average interest rate on new corporate loans was 5.70%, up 0.18 percentage points on September 2023. 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.

The largest rise in the average interest rates on new corporate loans was seen in the category of large corporate loans, i.e. loans of over EUR 1 million. The average interest on these loans rose by 0.15 percentage points from September, to stand at 5.44% in October 2023. The average interest on small loans of less than EUR 250,000 was 6.32%, and the average interest on medium-sized loans (over EUR 250,000 and up to EUR 1 million) was 6.19%.

Of the new corporate loans drawn down in October, 13.5% were taken out by firms in the manufacturing sector. This was less than usual. Correspondingly, the real estate sector’s share of new drawdowns (21.9%) was higher than usual.

Most (55%) of the corporate loans drawn down in October were with a maturity of over 1 and up to 5 years, and the average interest rate on these loans was 5.68%. The average interest on new corporate loans with up to one year’s maturity was 6.43%. These loans accounted for 19% of total corporate loan drawdowns. The average interest on long-term corporate loans with over 5 years’ maturity was 5.3%.


October 2023 sees low amount of drawdowns of new corporate loans



Finnish households’ drawdowns of new housing loans amounted to EUR 1.1 billion in October 2023, a decline of EUR 140 million from October a year earlier. Of the total, investment property loans accounted for EUR 100 million. The average interest rate on new housing loans rose from September, to 4.73%. At the end of October 2023, the stock of housing loans stood at EUR 106.5 billion, and the annual growth rate of the loan stock was -1.9%. Investment property loans accounted for EUR 8.6 billion of the housing loan stock. Of the total stock Finnish households’ loans at the end of October 2023, consumer credit amounted to EUR 17.1 billion and other loans, EUR 17.7 billion.

Drawdowns of new loans[2] by Finnish housing corporations amounted to EUR 560 million in October 2023. The average interest rate on these rose from September and stood at 5.38%. At the end of October, the stock of loans to Finnish housing corporations totalled EUR 43.8 billion.



At the end of October 2023, the stock of Finnish households’ deposits stood at EUR 108.4 billion, and the average interest rate on the deposits was 1.03%. Overnight deposits accounted for EUR 72.0 billion and deposits with agreed maturity for EUR 9.7 billion of the deposit stock. In October, households concluded EUR 1,110 million of new agreements on deposits with agreed maturity, at an average interest rate of 3.36%.


Loans and deposits to Finland, preliminary data*
  August, EUR million September, EUR million October, EUR million October, 12-month change1, % Average interest rate, %
Loans to households, stock 141,676 141,596 141,257 -1.6 4.51
    - of which housing loans 106,749 106,719 106,535 -1.9 3.97
    - of which buy-to-let mortgages 8,640 8,650 8,641   4.17
Loans to non-financial corporations2, stock  105,407 106,10 105,873 -0.4 4.68
Deposits by households, stock 109,278 110,110 108,351 -3.9 1.03
Households' new drawdowns of housing loans 1,139 1,131 1,128   4.73
    - of which buy-to-let mortgages 112 101 100   4.87

* Includes loans and deposits in all currencies to residents in Finland. The statistical releases of the Bank of Finland up to January 2021, as well as those of the ECB, present loans and deposits in euro to euro area residents and also include non-profit institutions serving households. For these reasons, the figures in this table differ from those in the aforementioned releases.
1 Rate of change has been calculated from monthly differences in levels adjusted for classification and other revaluation changes.  
2 Non-financial corporations also include housing corporations.


For further information, please contact:

Tuomas Nummelin, tel. +358 9 183 2373, email: tuomas.nummelin(at)

Usva Topo, tel. +358 9 183 2056, email: usva.topo(at)


The next news release on money and banking statistics will be published at 10:00 on 4 January 2024.


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



[1] Excl. overdrafts and credit card credit.

[2] Excl. overdrafts and credit card credit.