Stock of baby support loans at HUF 1.419 tln

Banking

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Hungarian lenders' stock of prenatal baby support loans stood at HUF 1.419 trillion at the end of August, up HUF 40 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 expecting or planning 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 125 bln in August, lifting the retail lending stock to HUF 8.991 tln, according to the latest MNB data.

Families made net deposits of HUF 119 bln during the month, raising retail deposit stock to HUF 11.996 tln.

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