Fundamenta projects 35-40% increase in new home loans this year

Sustainability

Home savings bank Fundamenta expects the volume of its new home loans to rise 35-40% this year to HUF 330 billion, as it was in 2009, Fundamenta said today, according to Hungarian news agency MTI.

Fundamenta said it increased its loan placements by 30% in 2015 adding that it now provides 25% of all new home loans in Hungary.

For a healthy and sustainable increase in retail housing loans, the volume of disbursements would have to be at least HUF 500 bln a year, they said in the statement. Fundamenta forecasts that it could take at least 2-3 years to reach that level.

Fundamenta noted that the ratio of non-performing loans in its portfolio is below 1.4% compared to 13% on the market as a whole.

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