The financial position of the Estonian banking sector is good and the risks to it are small. The biggest risks for Estonian banking are related to the money laundering scandals that have hit the Nordic banking groups operating in Estonia. Reputational damage to the banks could worsen the funding... more

Taavi Raudsaar Economist at Eesti Pank

The indebtedness of the companies and households that make up the Estonian private sector, which is shown as the ratio of debt liabilities to GDP, shrank notably in 2018 to 112% at the end of the year as nominal GDP grew quickly. The... more

Jana Kask Economist at Eesti Pank

Growth in housing loans continued at its earlier rate in February, but there was slightly reduced take-up of consumption loans and car leases. Deposits continue to grow fast though. Businesses have borrowed less in recent months than earlier... more

The review of financing and lending in the non-financial sector covers banking and leasing statistics, financial accounts analysis and credit supply and demand. It is published once a year.

Eesti Pank has added LHV Pank to the list of providers of vital services. A service is vital if an interruption to it would cause an immediate threat to life or health, the functioning of society, or the supply of some other essential or generally necessary services. Payment services and cash... more

Timo Kosenko Economist at Eesti Pank

The options for funding for Estonian companies are good. The growth in liquid assets has improved the capacity of companies to fund their activities and make investments using their own funds. Their access to external funding also remains... more

Kirstin Saluveer Economist at Eesti Pank

New loans and leases to private individuals have been added less quickly in the past couple of months than previously. Although the growth in borrowing by companies has accelerated a little at the same time, this is mainly because of... more


The closing of Danske Bank’s branch after it was prohibited on Tuesday from operating in Estonia for violating anti-money laundering rules will not have any substantial impact on the Estonian economy. That is because Danske has already stopped providing services to private individuals and local... more


The Nordic and Baltic financial stability authorities have conducted a joint financial crisis management exercise. The exercise was held from 22 to 23 January 2019 and involved 31 authorities from Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden as well as relevant... more

Mari Tamm Economist at Eesti Pank

The growth in the volume of loans to individuals and companies was strong in December, though new loans were added at a slower rate than before. Bank deposits continued to grow faster than loans. The total profit of the banks operating in... more

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