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Published: 30 April 2012

Decline in households’ net financial assets came to an end in the last quarter of 2011

Households’ net financial assets recovered slightly in the last quarter of 2011. The decline that had gathered increasing strength during the first three quarters of 2011 turned into 2.3 per cent growth towards the end of the year. The situation was eased by the recovery of share prices that started in late 2011 at the same time as households’ deposits continued to grow. Households’ debts, in turn, were hiked up by steadily escalating borrowing. Households’ financial assets were 1.7-fold compared to their debts at the end of 2011. Their net financial assets amounted to EUR 89.9 billion. These data derive from Statistics Finland’s financial accounts statistics.

Change from the previous quarter in households' net financial assets

Change from the previous quarter in households' net financial assets

Households’ debts continued to rise steadily, reaching EUR 126.0 billion by the end of 2011. Their growth from the previous quarter amounted to EUR 1.2 billion. The majority of households’ debts were loans, which grew by EUR 1.5 billion. The total sum of loans rose to EUR 117.3 billion, thus continuing the prolonged steadily rising trend in households' indebtedness.

The decline in households’ financial assets in the previous two quarters turned into 1.6 per cent growth in the last quarter of 2011. As the recovery of share prices was only just starting, most of the growth in their financial assets came from deposits. While net investments in mutual fund shares and quoted shares decreased slightly, deposits increased by EUR 1.4 billion to EUR 80.2 billion. Thanks to holding gains, the total amounts for quoted shares and mutual fund shares also grew slightly. At the end of 2011, households’ financial assets stood at EUR 215.9 billion.

Change in the net financial asset situation of non-financial corporations was quite moderate. It weakened by 2.6 per cent as deposits, for instance, decreased by 4.2 per cent to EUR 26.0 billion. At the same time, debt financing raised by non-financial corporations diminished by 0.9 per cent to EUR 192.1 billion. At the end of 2011, non-financial corporations had EUR 175.2 billion more debts than financial assets.

Source: Financial accounts, Statistics Finland

Inquiries: Peter Parkkonen 09 1734 2571,

Director in charge: Ari Tyrkkö

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Updated 30.4.2012

Referencing instructions:

Official Statistics of Finland (OSF): Financial accounts [e-publication].
ISSN=1458-8145. 4th quarter 2011. Helsinki: Statistics Finland [referred: 27.2.2024].
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