In November, 14% more was taken in new housing loans than a year earlier and the growth in car leases continued at the same rate. There was also an increase in corporate borrowing, though mainly because of big individual transactions by energy companies. Bank deposits grew faster than loans and leases.

Demand for loans remained strong in November and 116 million euros of new housing loans were taken in the month. This meant that the yearly growth in the housing loan portfolio accelerated a little to reach 7%. Private individuals signed new car leases at a similarly strong rate to earlier. The stock of car leases has increased over the year by more than one fifth. The yearly growth in other consumption loans to households slowed to 4% in November though.

Non-financial sector companies took more in new bank loans and leases this year than they did a year ago. Loans have been taken partly in order to refinance earlier loans. Loan volumes were also increased in November by some large transactions in the energy sector. The demand for loans from other sectors was as large as in earlier months. The total stock of loans and leases to companies was 5.2% larger in November than a year earlier.

The average interest margin on housing loans has not risen in recent months, having increased in the first half of the year. In November it was 2.5%, which is still higher than the average for last year. The average interest margin on long-term corporate loans was also higher than a year earlier at 2.6% in November.

The bank deposits of Estonian companies and residents continued to grow fast and were up some 10% over the year. This meant they grew faster than loans and leases and so the financial buffers of companies and households have increased. Non-resident deposits were down in November and were 29% smaller than a year before. At the end of the month non-resident deposits were 6.2% of the stock of corporate and household deposits.

Financial sector statistics and the publication calendar