MNB: Corporate lending stock of Hungarian banks increases in March

Telco

Image by Jessica Fejos

The corporate lending stock of Hungarian banks increased in March from the previous month as companies were net borrowers and revaluations also increased lending stocks, fresh data from the National Bank of Hungary (MNB) show, Hungarian news agency MTI reported today.

The corporate lending stock of the banks was up HUF 138.4 billion at HUF 6.032 trillion according to non-adjusted data. Net borrowing came to HUF 123.2 bln, while revaluations and other changes increased lending stock by HUF 15.3 bln, according to MTI. 

The stock of forint loans grew by HUF 29.5 bln and that of foreign currency loans by HUF 107.5 bln. Transactions contributed a HUF 32.8 bln rise in forint loans and a HUF 89 bln increase to FX loans. 

Holdings by credit institutions of bonds issued by non-financial corporations increased by HUF 1.4 bln due to transactions, bringing the stock of bonds to HUF 33.6 bln. 

Corporate deposits meanwhile fell HUF 13.1 bln to HUF 5.670 tln in March. Deposits shrank due to transactions by HUF 22 bln and revaluations only increased the stock by HUF 8.9 bln. 

According to MNB, there were net inflows of HUF 7.8 bln into forint deposits and net withdrawals of HUF 29.8 bln from foreign currency deposits. 

The euro strengthened around 1.1% against the forint between the end of February 2016 and the end of March 2016, calculating with the central bankʼs daily fixing, the news agency reported.

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