MNB: SME lending recovers as total corporate lending decreases
In the fourth quarter of 2015, lending to SMEs by credit institutions grew by 3.6% in annual terms but by contrast, total corporate lending decreased by 6.7%, data from the National Bank of Hungaryʼs (MNB) “Trends in Lending” report released today show, Hungarian news agency MTI reported.
In the fourth quarter, outstanding corporate loans of financial institutions decreased primarily due to one-off factors and seasonal effects. Loans to enterprises decreased by HUF 50 billion as a result of transactions with forint loans increasing by HUF 54 bln and FX loans decreasing by HUF 104 bln.
Other flows, including write-offs and reclassifications reduced the outstanding borrowing of non-financial corporations by an additional HUF 204 bln. Unused credit lines, which had already previously reached a high level in 2015, continued to increase in the last quarter, with the annual amount of growth reaching HUF 717 bln.
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