Prenatal baby support loans at HUF 1.502 tln

Banking

Hungarian lenders' stock of prenatal baby support loans stood at HUF 1.502 trillion at the end of October, up HUF 40 bln from a month earlier, according to data released by the National Bank of Hungary (MNB).

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

The prenatal baby support loans accounted for around half of households' net borrowing of HUF 81 bln in October.

Banks' retail loan books reached HUF 9.205 tln at the end of the month as a result. Households made net deposits of HUF 251 bln during the month, lifting the retail deposit stock to HUF 12.33 tln.

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