Companies Borrow Close to HUF 200 bln in September

Banking

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Non-financial companies borrowed a net HUF 197 billion from Hungarian banks in September, state news wire MTI reports, citing monthly data released by the National Bank of Hungary (MNB).

Net corporate borrowing has averaged HUF 145 bln a month so far this year. Net borrowing was over HUF 200 bln during the summer months.

Local banks' corporate lending stock, including subscriptions of corporate bonds, reached HUF 13.195 trillion at the end of the month.

Companies made net deposits of HUF 239 bln on their forint accounts in September, but withdrew net HUF 496 bln from their FX accounts as the forint weakened. That weakening added HUF 237 bln to the balance sheet value of those FX accounts.

Corporate deposit stock reached HUF 15.439 tln at the end of the month.

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