25% of Banks Sense Pick-up in Credit Demand

Banking

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A quarter of the banks sensed a pick-up in demand for consumer credit in the past six months, and looking ahead, more than half of the respondents expect an increase, according to a survey conducted by the National Bank of Hungary (MNB) in April.

According to the majority of institutions, demand for corporate loans did not change in 2023 Q4 and 2024 Q1, and 30% of banks expect a pick-up in demand in the corporate sector in the next six months, the MNB said this week.

According to the banks, competition intensified in the retail and corporate credit markets, as well as in the field of payment services and against non-bank market participants, and it may increase further in the future.

Voluntary ceilings on lending rates may also have played a role in the intensification of competition.

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