2% of Magyar Bankholding clients remain in repayment moratorium
Photo by Shutterstock.com
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.
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.