Household lending stock stops growing in October

MNB

Hungarian banks' retail lending stock stopped growing in October, the National Bank of Hungary (MNB) said on Wednesday.

Retail lending stock fell Ft 3.4 billion to Ft 4,616.6 billion during the month. Part of the fall can be attributed to the strengthening forint, as 41.1% of the stock is denominated in foreign currency. The forint firmed about 4.2% in October alone. The level of forex lending stock has risen fourfold in just two years.
Home loans accounted for 57% of retail lending stock. Stock of home loans rose Ft 5.8 billion in October. Forex home loans made up 32.2% of the total stock.
Consumer loans made up 36% of retail loans. Stock of consumer loans fell Ft 13.9 billion from September. Forex consumer loans accounted for 57.2% of the total stock.
Lending stock in the "other loans" category declined Ft 13.9 billion in October. Forex loans made up 31% of these loans.
Retail sight and current account deposits fell Ft 16.4 billion in October, stock of deposits fixed for up to a year decreased Ft 16.5 billion and stock of deposits fixed for more than one year fell Ft 4.9 billion.

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