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Lenders' stock of baby support loans at HUF 1.462 tln

Banking

Hungarian lenders' stock of prenatal baby support loans stood at HUF 1.462 trillion at the end of September, up HUF 43 billion from a month earlier, according to data released by the National Bank of Hungary (MNB) on its website.

The government introduced the unsecured, interest-free, general-purpose prenatal baby support loans of 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.

Households borrowed a net HUF 134 bln in September, lifting retail lending stock to HUF 9.125 tln, according to fresh MNB data.

Home loans accounted for HUF 66 bln of the net increase and stood at HUF 4.458 tln at the end of the month. Households made net withdrawals of HUF 4 bln during the month, but revaluations on FX deposits still lifted retail deposit stock to HUF 12.059 tln.

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