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Private debtors reach record high in Hungary

MNB

The number of private debtors registered in the retail subsystem of the Central Credit Information System (KHR) in Hungary has never been so high. This is mainly due to the increase in home loans.

According to data updated at the end of June, a total of 5.03 million private Hungarians were registered in the KHR, a 30,000 increase year-on-year, business daily Világgazdaság reported.

A positive development is that the rate of bad debts has decreased: at the end of June, the number of delayed payments was 1.8 million, some 75,000 fewer than a year before.

The volume of new retail loan contracts is dynamically growing, shows data provided by the National Bank of Hungary (MNB). In the first five months of 2018, the value of new contracts was HUF 564 billion, a 43.6% growth year-on-year. The rise was greatest for consumer loans, by 53.9%, and housing loans, by 36.4%, the MNB said.

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