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Retail lending of Hungarian banks rises in October

The retail lending stock of Hungarian banks was up HUF 51.3 billion to nearly HUF 6.112 trillion in October from the previous month, fresh data from the National Bank of Hungary (MNB) show, state news wire MTI reported Monday. 

Transactions increased the stock of loans by HUF 61.7 bln, but revaluations reduced it by HUF 10.4 bln, with forint revaluations accounting for HUF 9.9 bln of the decline.

Forint-denominated transactions increased the stock by HUF 62.3 bln, but FX transactions lowered it by HUF 0.6 bln.

The stock of retail deposits rose HUF 167.2 bln to HUF 8.625 tln on net inflows of HUF 158.2 bln. Revaluations increased the stock by HUF 9.0 bln.

Net placements raised forint deposits by HUF 153.9 bln, while foreign currency deposits were up HUF 4.2 bln due to transactions. Revaluations raised FX deposits by HUF 8.9 bln, and forint deposits by a marginal HUF 0.1 bln.

The euro strengthened by 0.3% to the forint between the end of September and the end of October, calculating with the central bankʼs daily fixing, the MNB reported.