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Corporate lending stock of Hungarian banks up in February

Telco

pixabay

The corporate lending stock of Hungarian banks was up in February from the previous month as companies were net borrowers, while revaluations reduced lending stocks, fresh data from the National Bank of Hungary (MNB) show, as reported by state news wire MTI.

The corporate lending stock of Hungarian banks was up HUF 51.2 billion at HUF 6.0685 trillion according to non-adjusted data. Net borrowing came to HUF 78 bln, while revaluations and other changes lowered the lending stock by HUF 26.7 bln.

The stock of forint loans grew by HUF 50.1 bln and that of foreign currency loans by HUF 24 bln because of transactions. Revaluations decreased the forint loan stock by HUF 1.2 bln and the FX loan stock by HUF 25.3 bln.

Holdings by credit institutions of bonds issued by non-financial corporations increased by HUF 3.9 bln due to transactions, while decreasing by HUF 0.3 bln due to revaluations, bringing the stock of bonds to HUF 91.6 bln.

Corporate deposits meanwhile dropped by HUF 6 bln to HUF 6.3503 tln in February. Deposits were up due to transactions by HUF 12.1 bln, but revaluations decreased the stock by HUF 18.1 bln.

According to the MNB, there were net outflows of HUF 75.7 bln from forint deposits and net inflows of HUF 87.8 bln into foreign currency deposits.

The euro weakened around 1.05% against the forint between the end of January and the end of February, calculating with the central bankʼs daily fixing.

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