Banksʼ retail lending up in October, MNB says

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The retail lending stock of Hungarian banks rose in October from the previous month, mainly reflecting loans to sole proprietors, the National Bank of Hungary (MNB) said in its monthly report. Retail deposits also rose last month, Hungarian news agency MTI reported.

The retail lending stock of banks was up HUF 5.9 billion at HUF 5.787 trillion, according to non-adjusted data. Transactions increased the stock of loans by HUF 10.7 bln, while revaluations reduced it by HUF 4.8 bln. 

Transactions and practically all revaluations affected forint loans, which reached HUF 5.74 tln at the end of October. The stock of retail foreign currency loans was just HUF 47 bln.

The stock of retail deposits rose HUF 99.5 bln to HUF 7.0936 tln at the end of October on net inflows of HUF 93.1 bln and net revaluations of HUF 6.4 bln.

Retail forint deposits rose by HUF 82.4 bln, while foreign currency deposits rose by HUF 10.7 bln due to transactions and by HUF 6.4 bln due to revaluations.

The stock of retail forint deposits, at HUF 5.899 tln, was up HUF 89 bln in one year. Retail FX deposits rose HUF 212.9 bln from the end of October 2015.

The MNBʼs transaction-based real growth index shows that retail deposits were up 3.4% year-on-year in October, rising steadily except for one month since December 2014. Forint deposits were up 0.4% in one year in real terms, while FX deposits rose by 20.9%.

The euro firmed a slight 0.02% against the forint in the month to the end of October 2016 and weakened 0.18% in one year, calculating with the central bankʼs daily fixing.

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