Households Deposit HUF 106 bln in February

Banking

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Households made net deposits of HUF 106 billion in their accounts at Hungarian banks in February, after half a year of taking out net withdrawals, according to monthly data released by the National Bank of Hungary (MNB) on its website this week.

Households had made net withdrawals of HUF 42 bln in August, HUF 124 bln in September, HUF 179 bln in October, HUF 184 bln in November, HUF 17 bln in December and HUF 334 bln in January. Hungarian banks' retail deposit stock stood at HUF 12.498 trillion at the end of February.

The MNB data shows households repaid a net HUF 22 bln of credit in February.

In January, households made net repayments on their loans for the first time in nearly five years, repaying HUF 28 bln of credit. The retail lending stock stood at HUF 9.856 tln at the end of February

Households borrowed HUF 12 bln of prenatal baby support loans in February, lifting the total contract value of the credit line to HUF 2.117 tln.

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