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Household deposits up to HUF 807 bln in February

Banking

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Net deposits of households at Hungarian banks came to an extraordinary HUF 807 billion in February, boosted by a tax refund for families raising children and an annual pensioners' bonus, according to data released by the National Bank of Hungary (MNB) on its website Friday.

The retail deposit stock of local banks rose to HUF 13.551 trillion as a result.

The government decided on the one-off tax refund of more than HUF 600 bln to compensate families with children for their burden during the coronavirus crisis.

Households signed for a net HUF 14 bln of credit in February, raising lenders' retail lending stock to HUF 9.366 tln.

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