Retail lending stock of banks up in January, says MNB

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The retail lending stock of Hungarian banks rose in January from the previous month, fresh data from the National Bank of Hungary (MNB) show, Hungarian news agency MTI reported. 

Banksʼ retail lending stock was up HUF 80.6 billion to HUF 6.0715 trillion, according to non-adjusted data. Transactions increased the stock of loans by HUF 52.7 bln, and revaluations by a further HUF 27.9 bln, MTI reported.

Seasonally unadjusted data show an increase of HUF 1.4 bln in forint loans and a HUF 4.8 bln decrease in foreign currency loans because of transactions.

The retail lending stock of banks was up mostly because holdings by credit institutions of bonds issued by non-financial corporations rose by HUF 56.1 bln due to transactions.

The stock of retail deposits fell HUF 254.5 bln to HUF 6,352.4 bln in January on net outflows of HUF 246.6 bln, while revaluations decreased the deposit stock by an additional HUF 7.9 bln.

Forint deposits decreased by HUF 237.7 bln and foreign currency deposits by HUF 8.9 bln because of transactions, while revaluations decreased forint deposits by HUF 4.8 bln and FX deposits by HUF 3.1 bln.

The euro strengthened by around 0.37% against the forint between the end of December 2016 and the end of January 2017, calculating with the central bankʼs daily fixing.

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