Businesses made net deposit withdrawals for the second month in a row although the size dropped from January.
They repaid net HUF 34.2 billion on an unadjusted basis and repaid HUF 20.5 bln according to seasonally adjusted calculations, transaction-based figures indicate.
Revaluations and other changes decreased the lending stock by HUF 12.9 bln to HUF 5.861 trillion and cut the forint value of deposits by HUF 8.4 bln to HUF 5.683 tln.
Companies borrowed net HUF 30.7 bln in forint loans and repaid HUF 64.9 bln in foreign currency loans in February, the unadjusted figures show. Adjusted for seasonal effects, forint borrowing was HUF 16.6 bln and FX repayments reached HUF 83.9 bln.
The stock of corporate forint loans rose to HUF 3.28 tln and that of foreign currency loans fell to HUF 2.582 tln by the end of February.
Corporate holdings of bonds issued by financial institutions increased by HUF 100 mln due to the effect of revaluations to HUF 32.2 bln at the end of February.
Excluding seasonal effects, companies withdrew net HUF 128.2 bln from forint deposits, and including the effects of revaluations, stock fell to HUF 3.933 tln. Businesses placed net HUF 96.8 bln in foreign currency deposits which, due to the forintʼs strengthening, rose to HUF 1.751 tln.
The forint strengthened about 0.5% to the euro and 0.6% to the U.S. dollar between the end of January and the end of February, calculating with the MNBʼs official fixing.
