MNB: Retail lending stock falls on firmer forint
Hungarian banks retail lending stock fell in September as the stronger forint reduced the value of foreign currency-denominated loans, a monthly report published by the National Bank of Hungary Friday shows.
Retail lending stock was down by HUF 65.8 bln to HUF 6.786 trillion between the end of August and the end of September. Revaluations and other changes subtracted HUF 63.0 bln from the total while households repaid net HUF 2.8 bln of their loans. The forint firmed at about 1.3% against the euro between the end of August and the end of September, which caused the value of FX loans to drop. Retail deposits stood at HUF 6.622 trillion at the end of September. Households made net withdrawals of HUF 44.4 bln during the month.
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