Personal Loans up Dramatically in 2023

Banking

Varga Jozsef Zoltan vis Shutterstock.com

The number of Hungarians taking out personal loans rose dramatically last year, according to data from the National Bank of Hungary (MNB), writes leading online business daily Világgazdaság.

Financial service providers signed 245,000 new contracts in 2023, almost 26,000 (11.8%) ​​more than a year earlier.

The value of new contracts reached HUF 522.9 billion, according to the MNB's statistics, 6.3% more than a year earlier.

This in itself is not a very steely performance, but considering that the entire consumer credit market shrank by 11.5% in 2023, it cannot be regarded as a bad result at all, the report notes.

In addition, the new placements of personal loans are already close to the peak of HUF 560 bln in 2019.

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