Home loan NPL ratio reaches 3.7% after blanket moratorium ends
Image by Shutterstock.com
Non-performing loans accounted for 3.7% of Hungarian lenders' stock of home loans at the end of December, two months after a blanket repayment moratorium ended, state news wire MTI reports citing data released by the Central Statistical Office (KSH).
The NPL rate rose from 2.4% at the end of 2020.
Hungary's government rolled out a blanket repayment moratorium in the spring of 2020 to ease fallout from the coronavirus crisis. From November 1, 2021, participation in the moratorium was limited to retail borrowers whose incomes have fallen, the jobless, pensioners, and parents raising children. The conditional moratorium will wind up at the end of June 2022.
The KSH data show the number of NPL contracts climbed to 25,000 at the end of December from 16,000 a year earlier.
KSH noted that the ratio of restructured loans among NPLs rose to 48% from 30% during the period.
MET Group Records 2nd Most Profitable Year in 2023
Gov't Considering Fuel Price Intervention
Wienerberger Lays Cornerstone of HUF 12 bln Concrete Tile Pl...
Time Out Market to Open in Budapest Next Year
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.
