ADVERTISEMENT

Households make net withdrawals from bank deposits in Jan

Banking

Shutterstock.com

Households made net withdrawals of HUF 166 billion from bank deposits in January, state news wire MTI reports citing data released by the National Bank of Hungary (MNB).

The data show HUF 289 bln of net withdrawals from forint accounts but net deposits equivalent to HUF 123 bln in FX accounts.

Banks' retail deposit stock fell to HUF 12.683 trillion as a result.

Households' net borrowing came to HUF 33 bln in January, lifting lenders' stock of retail loans to HUF 9.353 tln at the end of the month.

Some HUF 23 bln in outlays of prenatal baby support loans accounted for over two-thirds of households' net borrowing.

The government introduced the unsecured, interest-free, general-purpose prenatal baby support loans up to HUF 10 million 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.

Hungarian lenders' stock of prenatal baby support loans stood at HUF 1.593 tln at the end of January.

ADVERTISEMENT

Business, consumer confidence slip in May Analysis

Business, consumer confidence slip in May

Parl't elects Orbán prime minister Parliament

Parl't elects Orbán prime minister

New managing director at LG Electronics Hungary Appointments

New managing director at LG Electronics Hungary

Airport bus fare could rise to HUF 1,500 City

Airport bus fare could rise to HUF 1,500

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.