Bank Loan Portfolio Reverses Years of Decline ({{commentsTotal}})


After five years of declining bank loan portfolios, Estonians have began to take out more mortgages and business loans.

The loan portfolio of local banks grew by 2.2 percent in 2013 to 14.4 billion euros, with business loans making up 44 percent and private loans 48 percent of the total. The rest were loans to financial institutions and to governments, the Financial Supervisory Authority reported.

All segments of the financial market in Estonia grew in 2013, especially life insurance payments (growth of 11 percent), deposits (8 percent to 13.6 billion euros) and pension funds (19 percent).

Ulla Ilisson of Swedbank said people have grown more confident and are no longer postponing purchases as they did during the economic downturn.

The full report can be read here in English.

CORRECTION: A previous version of the story incorrectly stated that the economy was in recession for five years. Only banks' loan portfolios declined for such a long period. 

+{{cc.replyToName}} {{cc.body}}
No comments yet.
Logged in as {{user.alias}}. Log out
Login failed

Register user/reset password

Name needs to be fewer than 32 characters long
Comment needs to be fewer than 600 characters long

Estonia’s way into the future isn’t a race

There is a lack of connection between the Estonian state, and the people who live here. While it expects a lot of the state, Estonian society doesn’t seem ready to contribute, writes Viktor Trasberg.

Lotman: Security academy would be crucial Estonian identity point in Narva

In an opinion piece published by Eesti Päevaleht, Tallinn University professor Mihhail Lotman found it important to overcome the mental barrier separating Ida-Viru County from the rest of Estonia.