Analytics, Estonia, Financial Services

This is a solid result in the context of deceleration in the growth pace of loans and leasing portfolio. “It reflects the preparedness of the banking sector to continue financing of productive business projects, which is one of the important premises for the smooth adjustment of the economy,” commented specialist of the Bank of Estonia Mari Tamm when commenting the recently published banking statistics, writes Postimees Online/LETA.

The volume of loans and leases taken by Estonian enterprises and individuals grew by 2.9 billion kroons in April 2008 – i.e. by 1.1%. The deceleration of the year-on-year growth in the loan and leasing portfolio continued. In comparison to April 2007, the loans volume grew by 23%.

The volume of loans that are late in payment for more than 60 days increased to 1.3% of the banks’ loans portfolio in April. In the context of the continued difficulties on the real estate market, the volume of loans that are late in payment of real estate enterprises grew the most.

The savings of enterprises and of individuals grew by 2.1 billion kroons, the year-on-year growth remained at the level of nearly 10%, similarly to the month of March.