MFB total assets edge down, lending stock rises

Telco

The state-owned Hungarian Development Bank (MFB) had total assets of HUF 1.294 trillion at the end of last year, edging down 2% from 12 months earlier, an earnings report posted on the website of the Budapest Stock Exchange yesterday shows, Hungarian news agency MTI reported.

The lending stock rose 6% to HUF 711 billion. The stock included HUF 185 bln disbursed in the framework of lending programs and HUF 526 bln disbursed on a case-by-case basis. New outlays came to HUF 145 bln last year.

The MFB said it approved HUF 148 bln of loan applications in 2016. Applications for HUF 45 bln of credit were for big, one-off transactions and HUF 103 bln of the applications were approved in the framework of lending programs. The latter amount included HUF 98 bln lent to farmers who bought state-owned land.

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