Hungarian non-financial corporations were net repayers in forints but net borrowers in foreign currency in September, the National Bank of Hungary’s aggregated balance sheet of credit institutions published Friday shows.

Banks’ stock of forint corporate loans, excluding revaluations and other changes, fell by HUF 39.2bn, while their foreign currency loans rose by HUF 25.8bn in September from the previous month. Including the effect of HUF 291.9bn in revaluations and other changes, forex loan stock reached HUF 4,381.2bn at the end of September.

Stock of bonds issued by the sector and held by credit institutions increased by HUF 34.3bn due to transactions. In aggregate, outstanding borrowing rose by HUF 20.9bn due to transactions.

Corporate deposits increased by HUF 35.9bn to HUF 4,134.3bn due mainly to transactions. Net inflows into forint deposits came to HUF 148.9bn and net withdrawals from foreign currency deposits amounted to HUF 113.0bn. Including the effect of HUF 110.9bn in revaluations and other changes, forex deposit stock reached HUF 1,329.8bn at the end of September.

The weakening of the forint’s exchange rate to the euro from 271.28 in August to 292.12 in September strongly contributed to the increase in deposits of companies, the MNB noted. Stock of corporate loans was lifted by the weakening of the forint against the Swiss franc from 231.08 in August to 239.40 in September.

Foreign liabilities of Hungarian credit institutions accounted for 27.9% of the sector’s balance sheet total in September.