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CIB Bank refinances HUF 10 bln in mortgage loans

MNB

jessica fejos

CIB Bank refinanced about HUF 10 bln in mortgage loans last year, Hungarian news agency MTI reported today.

(Photo: Jessica Fejos)

The amount accounted for more than one-fifth of the total HUF 45.6 bln in mortgage loans refinanced from March to December of last year, CIB noted, citing data from the National Bank of Hungary.

Many borrowers who earlier took out FX mortgages looked to refinance after the mandatory conversion of their credit into forints.

More than 80% of the loans CIB refinanced were from other banks. The refinanced loans boosted CIBʼs market share of new mortgage loans to over 10% last year, more than double its share in the previous year.

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