Retail lending up in November; home loans slightly down
The retail lending stock of Hungarian banks stood at HUF 6.144 trillion in November 2018, up HUF 32.5 bln from the previous month, show fresh data from the National Bank of Hungary (MNB). Meanwhile, Hungarian banks signed contracts for HUF 72.26 bln of new home loans in November 2018, 18% more than November 2017.
Transactions increased the stock of retail loans by HUF 41.2 bln, but revaluations reduced it by HUF 8.6 bln, with forint revaluations accounting for the entire decline, state news wire MTI reported.
Forint-denominated transactions increased the stock of retail loans by HUF 40.4 bln, and FX transactions by HUF 0.8 bln.
The stock of retail deposits rose HUF 36.8 bln to HUF 8.662 tln on net inflows of HUF 41.5 bln. Revaluations decreased the stock by HUF 4.7 bln. Net placements raised forint deposits by HUF 34.3 bln, while foreign currency deposits were up HUF 7.2 bln due to transactions. Revaluations lowered FX deposits by HUF 4.7 bln.
The euro weakened by 0.3% against the forint between the end of October and the end of November, calculating with the central bankʼs daily fixing.
Home loan outlays slightly down
Hungarian banks signed contracts for HUF 72.26 bln of new home loans in November 2018, some 18% more than in the same month a year earlier, but 8% less than in October 2018, MTI also reported Monday based on MNB figures.
Monthly home loan outlays have been falling since peaking in June, but were still at high levels in November as similar levels were last seen during the fall of 2003.
The average annual percentage rate of charge on home loans stood at 5.24% in November, up from 5.22% in October, and up from 4.46% in November 2017. The annualized rate on home loans was 4.90% in November 2018.
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