Corporate lending stock of Hungarian banks up in October
The corporate lending stock of Hungarian banks rose in October from the previous month mainly due to transactions, fresh data from the National Bank of Hungary (MNB) shows, as reported by state news agency MTI.
The corporate lending stock was up HUF 124.7 billion to HUF 7.52 trillion, according to non-adjusted data. Transactions increased the lending stock by HUF 118 bln, while revaluations and other changes increased it by HUF 6.8 bln.
The stock of forint loans was up by HUF 67.3 bln because of transactions, while that of foreign currency loans was up by HUF 50.5 bln. Revaluations increased the forint loan stock by HUF 1.9 bln, and the FX loan stock by HUF 5.3 bln.
Holdings by credit institutions of bonds issued by non-financial corporations decreased by HUF 0.4 bln due to revaluations, but were up HUF 0.2 bln because of transactions, bringing the stock of bonds to HUF 83.8 bln.
Corporate deposits meanwhile rose by HUF 237.7 bln to HUF 8.38 tln in October. Deposits were up due to transactions by HUF 217.8 bln, while revaluations raised the stock by HUF 19.8 bln.
According to the MNB, there were net inflows of HUF 98.4 bln into foreign currency deposits and HUF 119.5 bln into forint deposits. Revaluations increased FX deposits by HUF 19.1 bln and forint deposits by HUF 0.7 bln.
The euro strengthened by 0.3% to the forint between the end of September and the end of October, calculating with the central bankâs daily fixing, the MNB reported.
ADVERTISEMENT
POPIHN Raises Forecast for Fuel Consumption
Hungarian Lawmakers Ratify Finland's NATO Accession
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
