Corporate lending stock of Hungarian banks up in March
The corporate lending stock of Hungarian banks rose in March from the previous month mainly due to transactions, show fresh data from the National Bank of Hungary (MNB), state news wire MTI reported Monday.
The combined corporate lending stock of banks was up HUF 87.4 billion at HUF 7,708 bln, according to non-adjusted data. Transactions increased the lending stock by HUF 65 bln, while revaluations and other changes upped it a further HUF 22.4 bln.
The stock of forint loans was up by HUF 33.3 bln because of transactions, while that of foreign currency loans was up by HUF 31 bln. Revaluations decreased the forint loan stock by HUF 24.2 bln, but boosted the FX loan stock by HUF 45.4 bln.
Holdings by credit institutions of bonds issued by non-financial corporations increased by HUF 1.2 bln due to revaluations, and were up HUF 0.7 bln because of transactions, bringing the stock of bonds to HUF 83.3 bln.
Corporate deposits, meanwhile, fell by HUF 71.6 bln to HUF 8,304.7 bln in March. Deposits were down due to transactions by HUF 105.3 bln, while revaluations raised the stock by HUF 33.8 bln.
According to the MNB, there were net outflows of HUF 94.1 bln from foreign currency deposits and HUF 11.2 bln from forint deposits. Revaluations increased FX deposits by HUF 40.2 bln, but lowered forint deposits by HUF 6.4 bln.
The euro strengthened by 1.4% against the Hungarian forint between the end of February and the end of March, calculating with the central bankʼs daily fixing.
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