Finnish Banking 2024 (Finanssiala Finance Finland)

Summary

• The volume of Finland's GDP fell by 0.1% in 2024.p.5
• The ECB lowered its key interest rates a total of four times in 2024.p.4
• The unemployment rate of people aged 15 to 74 stood at 8.4%, 1.2 percentage points higher than in 2023.p.6
• Households' indebtedness ratio was expected to stand at 123% at the end of 2024.p.6
• The stock of Finnish households' deposits totalled €110.2 billion at the end of 2024.p.6
• In June 2024, 59% of all household and corporate loans granted by Finnish banks were housing loans and other mortgage-backed loans.p.7
• The stock of housing loans stood at €105.8 billion (€107.5 billion in 2023).p.8

Key insights

1. Finland's wind power capacity increased by 20% in 2024, with investments of about €1.8 billion.p.5
2. More than 390,000 people had opened an equity savings account by the end of 2024.p.6
3. The combined assets of Finnish investment funds totalled about €184 billion at the end of 2024.p.6
4. Fewer than 20,000 building starts were recorded in 2024, with state-subsidised housing making up almost 50% of all housing construction.p.7
5. Investment property loans accounted for €8.8 billion of the housing loan stock.p.8
6. Finland's total industrial solar power capacity was just over 120 megawatts at the end of 2024.p.5