Fundamenta-Lakaskassza new home savings contracts climb 23%
Fundamenta-Lakaskassza signed new home savings contracts worth HUF 307bn in January-November, 23% more than in the same period a year earlier, the home savings bank told MTI.
Fundamenta-Lakaskassza took a 60% market share in terms of new contracts during the period.
The bank targeted home loan layouts of HUF 30bn at the beginning of the year, but a rush to take advantage of a government scheme allowing early repayment of foreign currency-denominated mortgages at discounted exchange rates boosted lending by year-end. Excluding layouts to borrowers who used the loans to repay forex mortgages from other lenders, layouts came to HUF 36.4bn, 24% more than in the previous year. Including these loans, layouts rose 46% to HUF 43.7bn.
The deadline for declaring participation in the early repayment scheme was the end of December.
Fundamenta-Lakaskassza’s layouts to cover the forex mortgage repayments accounted for 12% of the total granted by Hungarian lenders to borrowers participating in the scheme. In value terms, its share came to 7.5%.
The layouts boosted the bank’s share of Hungary’s home loan market to 18% at the end of November, up from 4.9% a year earlier.
The ratio of Fundamenta-Lakaskassza’s stock of loans on which payments are past 60 days due is 3.43%, well under the market average, the bank said.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.