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Banksʼ corporate, retail lending stocks rise in May

The corporate lending stock of Hungarian banks was up in May from the previous month as a combined result of significant transactions and gains from revaluations, show fresh data from the National Bank of Hungary (MNB). Meanwhile, transactions also increased the stock of banksʼ retail loans in May.

The corporate lending stock of Hungarian banks was up HUF 184.3 bln at HUF 6,967.3 bln, according to non-adjusted data. Transactions increased the lending stock by HUF 120.2 bln, while revaluations and other changes increased it by HUF 64.1 bln.

The stock of forint loans was up by HUF 29.9 bln because of transactions, while foreign currency loans were up by HUF 72.3 bln. Revaluations decreased the forint loan stock by HUF 0.7 bln, but increased the FX loan stock by HUF 64.1 bln.

Holdings by credit institutions of bonds issued by non-financial corporations increased by HUF 0.6 bln due to revaluations and by HUF 18 bln because of transactions, bringing the stock of bonds to HUF 93.6 bln.

The stock of corporate deposits meanwhile rose by HUF 168.4 bln to HUF 7,949.5 bln in May. Deposits were up due to transactions by HUF 111.4 bln, and to revaluations by a further HUF 57 bln.  

The MNB said there were net outflows of HUF 97 bln from foreign currency deposits, but net inflows of HUF 208.4 bln into forint deposits. Revaluations only increased FX deposits, by HUF 57 bln. 

Forint transactions drive up retail lending stock

The retail lending stock of Hungarian banks was up HUF 56.2 bln to HUF 5,874.7 bln in May from the previous month, fresh data from the MNB also showed Tuesday.

Transactions increased the stock of loans by HUF 58.3 bln, but revaluations, most of them on the forint loan stock, reduced it by HUF 2.1 bln. Forint-denominated transactions increased the stock by HUF 58.1 bln, and FX transactions by HUF 0.2 bln.

The stock of retail deposits rose HUF 16.5 bln to HUF 8,133.3 bln on net outflows of HUF 17.7 bln. Revaluations, on the other hand, increased the stock by HUF 34.2 bln. 

Net placements raised forint deposits by HUF 45.9 bln, but net withdrawals cut foreign currency deposits by HUF 63.7 bln. Revaluations boosted forint deposits by HUF 34.2 bln, accounting for all the gains from revaluations.

The euro strengthened 1.7% against the forint between the end of April and the end of May, calculating with the central bankʼs daily fixing.