Sberbank Loan Portfolio Acquisition Lifts Lending Stock in Aug

Banking

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The acquisition of the credit portfolio of failed Sberbank Magyarország "fundamentally influenced" lending transactions in the month of August, the National Bank of Hungary (MNB) said in a monthly report published on Monday, according to a report by state news wire MTI.

MKB Bank said earlier it took over the Sberbank Magyarország credit portfolio, adding HUF 330 billion to its loan book. Sberbank Magyarorszag was wound up in March after its Austria-based parent failed amid international sanctions against Russia.

The fresh MNB data show non-financial companies borrowed net HUF 284 bln in August, lifting the corporate lending stock to HUF 12.806 trillion.

Households borrowed net HUF 174 bln, raising retail lending stock to HUF 9.777 tln.

Companies made net deposits of HUF 413 bln in August. Corporate deposit stock reached HUF 15.459 tln at the end of the month. 

Households made net withdrawals of HUF 42 bln, causing retail deposit stock to fall to HUF 13.425 tln.

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