Rise of Swiss franc affects 250,000 car leasing contracts

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The extraordinary strengthening of the Swiss franc has affected about 250,000 FX-denominated vehicle leasing contracts, the Hungarian Leasing Association told MTI yesterday. The total stock of such contracts is worth about HUF 300 bln according to the association's figures.

The monthly installments could rise in line with the change in the exchange rate, general secretary Gábor Lévai said, noting that it was difficult to tell at this point how much this will affect the non-performing ratio. Lévai noted that the strong CHF could adversely affect some 1,000-1,200 SME clients with leasing outlays of a combined HUF 15 bln.

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