MNB: Net borrowing raises corporate lending stock in June

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Corporate lending stock of Hungarian banks rose by HUF 14.9 billion to HUF 5.9628 trillion in June from the previous month, according to data released today by the Hungarian National Bank (MNB).

Businesses were net borrowers of HUF 56.5 bln during the month, according to the data, which was not adjusted for seasonal effects. They borrowed net HUF 47.0 bln of FX loans and issued net HUF 13.3 bln in corporate bonds, but repaid net HUF 3.9 bln in forint loans, MNB reports. 

The data show “revaluations and other changes” reduced forint corporate lending stock by HUF 24.6 bln in June.

Stock of corporate deposits rose by HUF 14.8 bln to HUF 5.7693 trillion in June, on net forint deposits and a rise in the value of FX deposits because of a weaker forint.

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