The general public’s domestic loan debt in Norway rose 4.1% year-on-year to NOK 7.71 billion at the end of July 2025, maintaining the same pace as in the previous three months. The latest reading remained at its highest increase in domestic loans since September 2023, reflecting continued borrowing across key sectors. Loan growth remained largely stable for households (4.3%), non-financial corporations (2.4%), and municipal governments (8.6% vs 8.7% in June). The steady expansion in loan growth coincides with an acceleration in economic activity. In Q2, Norway’s GDP grew by 0.8% quarter-on-quarter, following a 0.1% rise in Q1, indicating a positive shift after a period of subdued growth. This economic momentum, coupled with moderate interest rates, continues to support credit demand.
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