Volume of Consumer Credit Contracts Falls 8%

Banking

The volume of consumer credit contracts concluded in the first eight months of the year fell by nearly 8% compared to the same period in 2021, according to data from the National Bank of Hungary (MNB).

Although the decline is not dramatic, it is certainly noteworthy that this has broken a growth trend of many years.

On the other hand, the movements of individual credit products are different as far as the volume of newly concluded contracts is concerned.

In the case of personal loans, for example, the MNB measured a very significant increase of 16.6% for the first eight months, reaching more than HUF 360 billion. 

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