Are you sure?

Value of new forint corporate lending contracts grows in March

The value of new forint corporate lending contracts signed by Hungarian banks rose in March after falling to lows not seen in more than ten years in January and February, fresh data published by the National Bank of Hungary (MNB) on Friday show.

Banks signed new forint lending contracts for HUF 127.1 billion with companies in March, up from HUF 91.2 billion in February and HUF 93.2 billion in January, the lowest levels since the start of the statistical series in January 2000. The value of new contracts signed in March was still well under the HUF 227.2 billion signed in the same month a year earlier and the HUF 149.4 billion monthly average for the twelve-month period to the end of March.

New euro-based corporate lending contracts came to the equivalent of HUF 74.0 billion in March, up from HUF 62.4 billion in February but down from HUF 112.5 billion in the same month a year earlier and under the HUF 110.9 billion monthly average for the twelve-month period to the end of March. The value of new euro-based lending contracts rose from HUF 43.5 billion in January, the lowest level since the start of the statistical series in January 2005.

Companies placed HUF 1,559.9 billion in forint fixed deposits in March, up from HUF 1,475.0 billion in the previous month and HUF 1,505.5 billion twelve months earlier.

New euro corporate fixed deposits came to the equivalent of HUF 988.7 billion in March, up from HUF 840.6 billion in February and HUF 822.3 billion in the same month a year earlier.