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Value of new forint retail loans steady in November

The value of new forint loans Hungarian households signed in November was steady compared to the previous month, but foreign currency-based lending tapered off to practically nil as the result of a government ban on forex mortgage loans introduced in the summer, fresh data published by the National Bank of Hungary show.

The value of new forint consumer loans reached HUF 24.8 billion in November, up from HUF 22.3 billion in October and HUF 16.4 billion in November 2009. The monthly average in the twelve months to November was HUF 21.6 billion.

The value of new forint home loans rose to HUF 17.6 billion in November from HUF 16.7 billion in October and HUF 4.4 billion twelve months earlier. The figure for November was also well over the HUF 13.4 billion monthly average for the twelve-month period.

The value of new euro-based home loans and consumer loans each came to about HUF 200 million in November.

The value of new Swiss franc-based mortgage loans was HUF 200 million and the value of Swiss franc-based car loans was just HUF 100 million in November.

Households put HUF 1,043.9 billion into forint fixed deposits in November, well over the HUF 897.6 billion in the previous month and the HUF 869.6 billion in November 2009. (MTI – Econews)