In the first half of 2013, investments by municipalities and municipal federations and the resulting financing requirements of the municipal sector remained at the previous year’s level. The rate of increase in lending for housing construction, on the other hand, was higher than anticipated at the end of last year. This increase in the demand for housing financing is largely due to customers looking to refinance their old state-subsidised housing loans with new market-based loans. As interest rates remained low, customers continued to actively use short-term financing.

Total lending volume at the end of the period stood at EUR 16.8 billion, which is 7.0 per cent higher than at the end of 2012. The amount of new loans withdrawn during the period increased by 17 per cent to EUR 1.9 billion.

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