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Corporate lending stock increased 11.5% year-over-year, well above the European Union average of 4.1%.
Among regional peers, corporate loan books grew 10% in Czechia, 9.6% in Poland and 2.2% in Slovakia.
The average interest rate on forint-denominated corporate loans equivalent to less than EUR 1 million stood at 8.5% in the second quarter.
A survey of loan officers showed that a net 17% of lenders experienced stronger corporate borrowing demand in the second quarter, driven mainly by financing needs for inventories and receivables.
Banks reported stronger demand for short-term loans, while a net 16% saw weaker demand for long-term borrowing.
Looking ahead to the second half of the year, a net 19% of banks expect demand for long-term loans to increase, supported by rising investment needs and lower interest rates.
Retail lending expanded 19.6% year-over-year, several times the EU average of 3.2%.
Home loans were the main driver, including lending under the Home Start subsidized credit scheme for first-time homebuyers.
By mid-August, 56,000 Home Start loan contracts worth a combined HUF 2 trillion had been signed, a few weeks short of one year since the program was launched.
The MNB also noted an increase in personal loan disbursements since March 2026, although it described the risk profile of personal loan borrowers as “moderate.”
The average interest rate paid on new housing loans fell to 3.6% following the launch of Home Start and has since stabilized at around that level.
The average rate on market-based housing loans stood at 6.4% at the end of the quarter, while the average rate on personal loans was 14.1%.
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