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Households Withdrawals Match Deposits in April

Banking

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Households withdrew as much as they deposited in their accounts at Hungarian banks in April, according to data released by the National Bank of Hungary (MNB) this week.

Local lenders' retail deposit stock stood at HUF 12.515 trillion at the end of the month. Households took out a net HUF 94 billion in loans in April.

New lending contracts included HUF 22 bln of prenatal "baby support" loans.

The government introduced the unsecured, interest-free, general-purpose prenatal baby support loans of up to HUF 10 million for families having children in the summer of 2019, along with several measures designed to address depopulation.

The credit is available until the end of 2024, albeit with tighter conditions and an HUF 11 mln threshold.

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