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Corporate, retail lending stock drops on revaluations in June, MNB

Outstanding stock of loans to non-financial companies and households by Hungarian lenders fell in June from the previous month mainly because of revaluations, fresh data published by the National Bank of Hungary (MNB) show.

Corporate lending stock fell by HUF 289.3 billion to HUF 7,246.3 billion in June. Revaluations and other changes, mainly on foreign currency-denominated loans, cut the stock by HUF 203.9 billion, while transactions reduced the amount by HUF 85.4 billion.

Retail lending stock dropped by a little more than HUF 223 billion to HUF 7,503.1 billion. Revaluations and other changes reduced the stock by HUF 198.5 billion and transactions cut another HUF 24.7 billion from the amount. Corporate deposits fell by HUF 95.4 billion to HUF 4,050.2 billion on revaluations as well as net withdrawals of HUF 33.1 billion.

Retail deposit stock edged down HUF 17 billion to HUF 7,538.7 billion. Households were net depositors of HUF 60.6 billion, but the amount did not offset revaluations.