MNB: Corporate lending stock rises
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The corporate lending stock of Hungarian banks rose to HUF 6.75 trillion at the end of August month-on-month, as a result of businesses acting as net borrowers and of the weaker forint increasing the value of FX loans, a monthly report by the National Bank of Hungary (MNB) revealed today.
During the month, companies borrowed net HUF 34.9 bln credit both in forints and foreign currencies, the bank said. Revaluations and other changes added HUF 40.5 bln to the overall stock price.
From the end of July to the end of August, the forint weakened approximately 1% against the euro.
Corporate deposits stood at HUF 5.07 trillion at the end of August. Businesses deposited net HUF 176.6 bln to their accounts during the month, MNB said.
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