Corporate lending by Hungarian banks up in November
The corporate lending stock of Hungarian banks rose in November from the previous month mainly due to transactions, show fresh data from the National Bank of Hungary (MNB), according to a report by state news agency MTI.
The corporate lending stock of banks was up HUF 79.8 billion at over HUF 7.605 trillion, according to non-adjusted data. Transactions increased the lending stock by HUF 100 bln, while revaluations and other changes decreased it by HUF 20.2 bln.
The stock of forint loans was up by HUF 59.1 bln because of transactions, while that of foreign currency loans was up by HUF 40.5 bln. Revaluations decreased the forint loan stock by HUF 6.1 bln, and the FX loan stock by HUF 12.9 bln.
Holdings by credit institutions of bonds issued by non-financial corporations decreased by HUF 1.2 bln due to revaluations, but were up HUF 0.4 bln because of transactions, bringing the stock of bonds to HUF 83 bln.
Corporate deposits meanwhile rose by HUF 382.2 bln to over HUF 8.767 tln in November. Deposits were up due to transactions by HUF 392.0 bln, while revaluations lowered the stock by HUF 9.7 bln.
According to the MNB, there were net inflows of HUF 217.2 bln into foreign currency deposits and HUF 174.7 bln into forint deposits. Revaluations decreased FX deposits by HUF 9.7 bln, while forint deposits were unchanged.
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.
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