Are you sure?

MNB: Retail lending stock lower in November

Hungarian banksʼ retail lending stock dropped HUF 27 billion to HUF 5,826 bln in November from the previous month, falling on a portfolio cleanup, data from the National Bank of Hungary (MNB) show, as reported by state news wire MTI.

Revaluations, which include sales of non-performing loans, reduced the retail lending stock by almost HUF 28 bln during the month. Households were net borrowers of a little more than HUF 1 bln in forint loans and repaid almost HUF 1 bln of their FX loans. FX loans make up less than 1% of the total retail lending stock, MTI noted.

Households were net depositors of HUF 98 bln during the month, raising the retail deposit stock to HUF 7,708 bln.

Hungarian banks signed contracts for HUF 60.5 bln of new home loans with retail clients in November, 56% more than in the same month a year earlier, and 1% more than in October, separate MNB data show.

The average annual percentage rate on home loans stood at 4.46% in November, down from 4.53% in October and 5.45% in the same month a year earlier.