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2% of Magyar Bankholding clients remain in repayment moratorium

Banking

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Around 2% of the retail and corporate clients of Magyar Bankholding's members, Budapest Bank, MKB Bank, and Takarékbank, have opted to remain in a repayment moratorium that will become conditional on November 1, the banking group said yesterday, according to penzcentrum.hu.

Hungary's government rolled out a blanket repayment moratorium in the spring of 2020 to ease fallout from the coronavirus crisis.

From November 1, participation in the moratorium will be limited to retail borrowers whose incomes have fallen, the jobless, pensioners, and parents raising children, while corporate borrowers must show a 25% fall in revenue to join.

Magyar Bankholding's members' stock of loans under the moratorium fell by close to HUF 261 billion in the six months to the end of June, the group said.

One-third of retail lending stock was in the moratorium at the end of June, down from just under 42% at the end of 2020.

During the same period, the share of the corporate loan book in the moratorium dropped to 22% from 28%. Magyar Bankholding said its lending stock rose almost 6%, or HUF 298 bln, in the first half.

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