ADVERTISEMENT

MNB: Repayments, stronger forint cut retail lending stock

Telco

Hungarian households repaid net HUF 29.7 bln of their outstanding loans in October, and the weaker forint reduced retail lending stock by a further HUF 43.6 bln from the end of the previous month, a monthly report published by the National Bank of Hungary on Tuesday shows.

Retail lending stock dropped to HUF 6,712.5 bln as a result.

The forint strengthened about 0.9% to the Swiss franc and 1% against the euro between the end of September and the end of October.

Households repaid net HUF 31.3 bln of their FX loans and the exchange rate changes cut their FX loan stock by a further HUF 39.7 bln in the month to HUF 3,523.4 bln at the end of October.

Parliament has recently passed legislation under which the bulk of the retail FX loan stock will be converted into forints early next year.

Households borrowed net HUF 1.6 bln in forints last month.

Prospects of Hungarian Feed Industry Favorable This Year Crops

Prospects of Hungarian Feed Industry Favorable This Year

Hungary Opposes Freeing up Further EUR 6.5 bln From EPF Int’l Relations

Hungary Opposes Freeing up Further EUR 6.5 bln From EPF

1st Primark Store in Hungary Opens Retail

1st Primark Store in Hungary Opens

New Textile Collection Celebrates Hungary's Furmint Grape Wi... Art

New Textile Collection Celebrates Hungary's Furmint Grape Wi...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.