Central Bank: The stock of deposits from credit institutions up 22% over one year | Economy


Outstanding deposits with credit institutions increased by 0.7% or 183.9 million euros compared to October, the central bank announced in a statistical statement.

Deposits from other non-resident financial institutions contributed the most to growth during the year. Deposits from non-residents increased by €2 billion over the year and represented 15.3% of outstanding deposits from credit institutions

Assets of credit institutions totaled 38 billion euros, 1% or 378 million euros more than the previous month, and 13.5% or 4.5 billion euros more than a year earlier early. The assets of the leasing companies totaled 3 billion euros and their annual growth was 2.4% or 70.2 million euros.

Deposits from non-financial corporations increased by 21.7% over the year to reach 10 billion euros, and their annual growth comes mainly from deposits from residents.

The value of long-term loans and leases granted during the month to non-financial corporations amounted to 258.5 million euros, which is 51 million euros less than the previous month and 8 million euros less than a year ago.

The stock of loans and leases granted to non-financial companies amounted to 9.9 billion euros, after having increased by 5.5% over the year, or 0.6 percentage point less than previous month’s growth.

General indicators of deposits of credit institutions and leasing companies in November 2021. Source: Bank of Estonia

€200 million in real estate loans granted to households

There was growth of 5.5% over the year in outstanding loans and leases to households, which amounted to 11.2 billion euros. The largest share of loans to households are housing loans, and 9.3 billion euros were drawn on these loans. The stock was 8.7% or 750.5 million euros higher than a year earlier.

The volume of mortgage loans granted to households amounted to 200.7 million euros, ie 15.9 million euros more than the previous month. The last time more than 200 million euros were issued in household mortgages in a month was in May 2007.

The average interest rate on housing loans to households with mortgages was 1.95%, the lowest level on record. It was 0.05 percentage point lower than the previous month and 0.28 percentage point lower than the previous year.

Households took car rentals for 27.6 million euros, the lowest amount in the last nine months. Credit card loans of 46.6 million euros were granted, 6.8 million euros more than a year earlier.

Household deposits increased by 18.7% over the year to reach 12.2 billion euros. Non-residents accounted for 11.6% of the stock of household deposits, 0.6 percentage point less than a year earlier.

Estonian credit institutions are Swedbank, SEB Pank, LHV, Bigbank, Coop Pank, Luminor Pank, Holm Bank, Inbank and TBB bank.

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