Companies Borrow Net HUF 411 bln in January
Non-financial companies borrowed net HUF 411 billion from local lenders in January, a new record, news agency MTI reports, citing monthly data released by the National Bank of Hungary (MNB) on Friday.
The borrowing was well over the HUF 173 bln monthly net loans companies signed for on average in the second half of 2022.
Listed IT company 4iG announced in January that its unit Antenna Hungaria entered into a loan agreement with the Hungarian Development Bank (MFB) and other lenders on credit to finance the acquisition of a 51% stake in Vodafone Hungary. The acquisition of Vodafone Hungary was closed, for a consideration of HUF 660 bln, at the end of January.
Corporate lending stock, including subscriptions of corporate bonds, stood at HUF 13.54 trillion at the end of the month, MNB data show.
Companies made net withdrawals of HUF 102 bln in January, putting HUF 434 bln into their FX accounts but taking out HUF 536 bln from forint accounts. Corporate deposit stock came to HUF 14.958 tln at the end of the month.
ADVERTISEMENT
IWG Opens New Regus Center in Biatorbágy
Parliament Negates Mandatory Membership in MOK
MNB Grants License to Local iBanFirst Fintech Branch
Meet the Expat CEO of the Year Nominees
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.
