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Corporate lending climbs, retail lending falls in December

Telco

Hungarian lendersʼ stock of corporate loans rose a little more than HUF 27 billion in December from the previous month, to HUF 6.569 trillion, lifted by net borrowing mostly in foreign currency. Banksʼ stock of retail loans fell about HUF 19 bln to nearly HUF 5.807 tln in December, dropping on net repayments and write-downs.

Non-financial companies borrowed a net HUF 55 bln during the month, including almost HUF 39 bln in foreign currency, but revaluations resulting from exchange rates changes halved the increase in the overall corporate lending stock, show data released by the National Bank of Hungary (MNB) on Thursday.

Companies made net deposits of HUF 173 bln during the month, lifting the total corporate deposit stock to HUF 7.556 tln, including the effect of revaluations on FX deposits.

In retail lending, households repaid a little more than net HUF 8 bln in credit, while lenders wrote down some HUF 10 bln in bad loans.   

Households were net depositors of almost HUF 88 bln, lifting the total retail deposit stock to HUF 7.783 tln, including the impact of exchange rate changes on FX deposits.

Lendersʼ outlays of home loans reached almost HUF 56 bln in December, a little over the HUF 54 bln average monthly outlay for the full calendar year. About HUF 39 bln of the outlays were used to purchase resale homes and almost HUF 6 bln went toward new home purchases, the data show.

The annual percentage rate on home loans with fixed rates for a period of over one year averaged 5.14% in December, down from 6.01% at the beginning of the year.

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