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 bank’s daily fixing, the MNB reported.
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