Banks, Estonia, Financial Services, Loan

The year-on-year increase in the loans portfolio accelerated from 2.8% to 3.3% in July, growing by 80 million euros in a month to approximately 15.2 milliard euros, reported the Bank of Estonia.

The year-on-year growth in the loans and leasing contracts issued to enterprises in July accelerated to 4.9%, most particularly in the industrial sector (by 16%) and in the primary sector (including agriculture, hunting, forestry and fisheries, by 13.4%).

The portfolio of loans and leasing contracts issued to households grew by 1.5% in a year. Although the number of new housing loans taken in July grew by approximately 20% in comparison with the previous three months and in comparison with the same month a year ago, the year-on-year growth in the housing loans portfolio continues to be modest (2%), because earlier loans are paid back.

The year-on-year growth in deposits in banks accelerated to 9%. Corporate deposits grew by 125 million euros in a month and deposits of households increased by 30 million euros.