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Corporate, retail lending up in March

Telco

Including bonds, the corporate lending stock of Hungarian banks amounted to HUF 6,719.2 billion in March, up HUF 78.2 bln on the previous month, fresh data from the National Bank of Hungary (MNB) show. Retail lending, meanwhile, edged up HUF 15.6 bln to HUF 5,764.7 bln in March.

Transactions increased the corporate lending stock by HUF 96.9 bln, while revaluations and other changes reduced it by HUF 18.7 bln, the MNB data show.

The stock of forint loans was up by HUF 69.8 bln because of transactions, while the stock of foreign currency loans rose HUF 27 bln. Revaluations decreased the forint loan stock by HUF 1 bln and the FX loan stock by HUF 17 bln.

Credit institutionsʼ corporate bond stock inched up HUF 0.1 bln due to net issues, but revaluations decreased the stock. The total stock of corporate bonds decreased to HUF 76.2 bln.  

Corporate deposits rose by HUF 8.2 bln to HUF 7,646.7 bln in March. Deposits rose HUF 7.3 bln due to transactions, and fell by HUF 15.5 bln due to revaluations. 

There were net inflows of HUF 48.3 bln into foreign currency deposits and net outflows of HUF 41 bln from forint deposits. Revaluations decreased FX deposits by HUF 15.5 bln.

The forint strengthened 0.6% against the euro between the end of February and the end of March, calculating with the central bankʼs daily fixing.  

The corporate lending stock has risen overall by 8.2% in the year to March in real terms, the transaction-based indices published by the MNB show. Corporate deposits, meanwhile, have increased at double-digit rates since May 2017, transaction-based real-term indices reveal.

Retail loans, deposits continue rise

The retail lending stock of Hungarian banks edged up HUF 15.6 bln to HUF 5,764.7 bln in March from the previous month, MNB data show.

Transactions increased the stock of loans by HUF 22.6 bln, while revaluations, most of them on the forint loan stock, reduced it by HUF 7 bln. Forint-denominated transactions increased the stock by HUF 23.2 bln, while FX transactions reduced it by HUF 0.6 bln.

The stock of retail deposits rose HUF 97.4 bln to HUF 8,007.0 bln on net inflows of HUF 107.4 bln. Revaluations reduced the stock by HUF 10.0 bln.

Net placements raised forint deposits by HUF 124.7 bln, while net withdrawals cut foreign currency deposits by HUF 17.3 bln.

Revaluations boosted forint deposits by HUF 0.1 bln, but reduced FX deposits by HUF 10.1 bln.

The retail loan stock of Hungarian banks is up 0.5% year-on-year in real terms, transaction-based indices on the MNBʼs website show. After a steady contraction since September 2009, the retail loan stock of Hungarian banks has been rising in real terms since June 2017, the indices reveal.

Retail deposits are up 6.5% in real terms in one year, the transaction-based indices show.  The pace of growth accelerated to around 3% in spring 2017 and has risen further since this January.   

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