Households Make Net Deposits of HUF 97 bln at Banks in March
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Households made net deposits of HUF 97 billion on their accounts at Hungarian banks in March, well under the HUF 388 bln in February, monthly data released by the National Bank of Hungary (MNB) on Friday show.
Hungarian banks' retail deposit stock stood at HUF 12.543 trillion at the end of March.
MNB data show households took out net HUF 63 bln of loans from lenders in March. New lending contracts included HUF 20 bln of prenatal baby support loans.
The government introduced the unsecured, interest-free, general-purpose prenatal baby support loans up to HUF 10 million for families having children in the summer of 2019 along with a number of measures designed to address depopulation. The credit is available until the end of 2024, albeit with tighter conditions and a HUF 11 mln threshold.
Retail lending stock stood at HUF 10.254 trillion at the end of March. The stock included HUF 2.097 tln of prenatal baby support loans.
MNB data show the average annual percentage rate for home loans from Hungarian banks was 7.35% in March, falling from 7.85% in February. The home loan APR was down from 10.52% in March 2023.
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