Households Continue to Make Net Withdrawals in October

Banking

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Households made net withdrawals of HUF 179 billion from their accounts at Hungarian banks in October, monthly data released by the National Bank of Hungary (MNB) on Friday show, according to a report by state news wire MTI.

Households withdrew net HUF 124 bln in September and HUF 42 bln in August.

MNB data show households borrowed a net HUF 13bn in September. The stock of prenatal baby support loans rose HUF 19 bln during the month.

The government introduced unsecured, interest-free, general-purpose prenatal baby support loans up to HUF 10 mln for families having children in July 2019. The loans are part of a package of family support measures designed to address the problem of depopulation and are available only until the end of 2022.

 Retail lending stock stood at HUF 9.834 trillionn at the end of October. The stock of prenatal baby support loans was close to HUF 1.849 tln.

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