Households net HUF borrowers, net FX re-payers in August

Telco

Households were net borrowers in terms of forint loans but net re-payers of foreign currency-denominated loans in August, data published by the National Bank of Hungary on Friday show.

Overall retail lending stock, excluding revaluations and other volume changes, fell in August. Stock of deposits rose as forint deposits climbed because of transactions, but foreign currency deposits fell.

Stock of outstanding retail debt fell by HUF 31.9bn in August from the previous month due to transactions. Within this, forint borrowing exceeded repayments by HUF 10.5bn and foreign currency borrowing, excluding revaluations and other volume changes, fell by HUF 42.4bn. Retail deposits rose HUF 59.0bn on transactions, namely net inflows into foreign deposits of HUF 86.4bn and net withdrawals from foreign currency deposits of HUF 27.3bn.

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