Home savings banks’ share of home loans edges up to 8%

Sustainability

Home savings banksʼ share of overall home loans edged up 1% to a little more than 8% in the first half of the year, but commercial banks and mortgage banks still accounted for most of the stock, a summary of data compiled by the Central Statistical Office (KSH) shows, Hungarian news agency MTI reported Saturday.

Home savings banks’ market share was dwarfed by that of commercial and mortgage banks, despite the state support their clients enjoy. Hungarians who put money into home savings banks get a 30% state subsidy. 

Commercial banksʼ stock of home loans came to HUF 1.818 trillion at the end of June, or 62% of the total, down one percentage point from the end of 2015. Mortgage banksʼ stock reached HUF 795 bln, or 27% of the total.

Home loans at home savings banks came to HUF 254 bln at the end of the first half of 2016. Savings cooperatives accounted for HUF 86 bln of the total stock of HUF 2.953 tln.

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