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Companies Withdraw Net HUF 208 bln From Bank Accounts in May

Banking

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Non-financial companies made HUF 208 bln of net withdrawals from the accounts at local banks in May, monthly data released by the National Bank of Hungary (MNB) on Wednesday show.

Banks' corporate deposit stock fell to HUF 15.929 tln at the end of the month.

Companies borrowed net HUF 72 bln during the month, lifting lending stock, including subscriptions of corporate bonds, to HUF 13.824 tln.

The average interest rate on forint business loans, up to the equivalent of EUR 1 mln, stood at 9.62% in May, down from 10.04% in April and 15.21% in May 2023.

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