Finland: Bank credit to the private sector

* indicates monthly or quarterly data series
 Finland

Bank credit to the private sector as percent of GDP

 Latest value 90.32
 Year 2023
 Measure percent
 Data availability 2001 - 2023
 Average 83.66
 Min - Max 52.58 - 99.87
 Source The World Bank
The latest value from 2023 is 90.32 percent, a decline from 94.15 percent in 2022. In comparison, the world average is 51.31 percent, based on data from 140 countries. Historically, the average for Finland from 2001 to 2023 is 83.66 percent. The minimum value, 52.58 percent, was reached in 2001 while the maximum of 99.87 percent was recorded in 2020. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
Finland - Bank credit to the private sector - Recent values chart

Historical series
Finland - Bank credit to the private sector - historical chart - 2001-2023




Bank credit in Finland and other countries is defined as the credit extended by the banking institutions to the private sector only: both firms and households. It does not include lending to the government.

Credit is essential for the economy to function well. It funds new investments and allows people to purchase houses, cars, and other items. Of course, excessive lending and borrowing usually end up in financial crises but, in principle, credit availability is good for economic development.

If the banking credit to the private sector is about 70 percent of GDP and more, then the country has a relatively well developed financial system. The amount of credit can even exceed 200 percent of GDP in some very advanced economies. In some poor countries, the credit could be less than 15 percent of GDP. In these countries, firms and households essentially do not have access to credit for investment and various purchases.
Definition: Domestic credit to private sector by banks refers to financial resources provided to the private sector by other depository corporations (deposit taking corporations except central banks), such as through loans, purchases of nonequity securities, and trade credits and other accounts receivable, that establish a claim for repayment. For some countries these claims include credit to public enterprises.

Selected articles from our guide:

What factors determine the exchange rates

International lending and sovereign debt

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 Related indicators Latest Reference Measure
 ATMs per 100,000 adults 36.75 2021 ATMs per 100,000 adults
 Bank branches per 100,000 people 6.16 2021 bank branches
 Firms using credit to finance investment 25.00 2020 percent
 Small firms with bank credit 61.00 2020 percent
 Percent people with credit cards 65.29 2021 percent
 Percent people with debit cards 97.42 2021 percent
 Domestic credit to the private sector 100.20 2020 percent
 Bank credit to the private sector 90.32 2023 percent
 Liquid liabilities, percent of GDP 89.11 2021 percent
 Bank assets to GDP 105.14 2021 percent
 Financial system deposits, percent of GDP 77.28 2021 percent
 Bank credit to government 8.83 2020 percent
 Banking system concentration 92.57 2021 percent
 Foreign bank assets 84.00 2013 percent of total bank assets
 Percent people with bank accounts 99.53 2021 percent
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