Hungarian banksʼ corporate lending stock up in September
The corporate lending stock of Hungarian banks rose in September from the previous month as companies were net borrowers while revaluations decreased lending stocks, fresh data from the National Bank of Hungary (MNB) show today.
The corporate lending stock of banks was up HUF 14.4 bln at HUF 5,965.6 bln in September, according to non-adjusted data. Net borrowing came to HUF 31.6 bln, while revaluations and other changes lowered the lending stock by HUF 17.2 bln.
The stock of forint loans grew by HUF 64.5 bln and that of foreign currency loans fell by HUF 32.6 bln because of transactions. Revaluations decreased the forint loan stock by HUF 7.2 bln and the FX loan stock by HUF 10 bln.
Holdings by credit institutions of bonds issued by non-financial corporations decreased by HUF 0.3 bln due to transactions, bringing the stock of bonds to HUF 80.8 bln.
Corporate deposits meanwhile dropped by HUF 111.3 bln to HUF 5,854.1 bln in September. Deposits were down due to transactions by HUF 105.3 bln, while revaluations decreased the stock by a further HUF 6 bln.
According to the MNB, there were net outflows of HUF 116.5 bln from forint deposits and net inflows of HUF 11.2 bln into foreign currency deposits.
The euro weakened around 0.25% against the forint between the end of August 2016 and the end of September 2016, calculating with the central bankʼs daily fixing.
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