Outlays, impact of weak forint lift corporate lending stock in January

Telco

Photo by Shutterstock.com

Corporate lending stock of Hungarian banks rose in January from the previous month, lifted by net outlays and the impact of the weaker forint on FX loans, Hungarian news agency MTI reports, citing fresh data from the National Bank of Hungary (MNB).

Image: Shutterstock.com

Corporate lending stock rose HUF 151.6 billion to nearly HUF 8.605 trillion in January, supported by HUF 80.4 bln of outlays and HUF 71.2 bln in revaluations, nearly all related to the expansive effect the weaker forint had on FX loans on banksŹ¼ balance sheets.

Companies borrowed net HUF 55.8 bln in forints and the equivalent of HUF 17.5 bln in FX loans in January.

BanksŹ¼ stock of corporate bonds stood at HUF 164.8 bln at the end of January, up HUF 11.4 bln in a month.

Corporate deposits fell HUF 69.5 bln to more than HUF 9.327 tln in January. Companies withdrew net HUF 116.9 bln, but revaluations, mostly on FX deposits, raised the stock by HUF 47.4 bln.

The forint weakened 1.85% to the euro between the end of December and the end of January, calculating with the central bankŹ¼s daily fixing.

ADVERTISEMENT

Voluntary Pension Fund Contributions up 8%Ā in 2023 Figures

Voluntary Pension Fund Contributions up 8%Ā in 2023

Hungarian Lawmakers Ratify Sweden's NATO Accession Intā€™l Relations

Hungarian Lawmakers Ratify Sweden's NATO Accession

Hungary to Take Delivery of Additional Gripen Fighters in 20... Deals

Hungary to Take Delivery of Additional Gripen Fighters in 20...

Diversity in Focus at AmCham Hungary's HR Dream Day Conferences

Diversity in Focus at AmCham Hungary's HR Dream Day

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.