Household lending rises 8.7 percent in July

Lending to households grew by 8.7 percent in July compared with the same month last year, KVF reports.

Banks reported increased demand from households for financing in the second quarter and expect demand to rise further in the third quarter. The Risk Council says households borrow mainly to finance housing.

House prices have risen faster than household disposable incomes for many years in a row, the council says.