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K&H tapping HUF 130 bln in cheap credit

Telco

K&H Bank signed contracts with clients for HUF 69 bln in cheap credit from the National Bank of Hungary's (MNB) Funding for Growth Scheme by the end of August, CEO Hendrik Scheerlinck announced yesterday.

The bank chain is currently lending another HUF 60 bln to SMEs from the credit, the CEO added.

The share of K&H Bank in the entire lending market of Hungary came to 8.9% in the first half of this year, which is an increase from 8.3% in the same period a year earlier.

At the samne time, the stock of client loans edged down by 0.6% dipping to HUF 1.384 trillion in H1. The stock of client deposits rose by 6.6% reaching HUF 1.290 trillion.

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