Are you sure?

Corporate, retail lending stock rises on revaluations in August

Outstanding stock of loans to non-financial companies and households by Hungarian lenders rose in August from the previous month as revaluations outweighed net repayments, fresh data published by the National Bank of Hungary show.

Corporate lending stock fell by HUF 26.1 billion to HUF 7,104.0 billion in July. Revaluations and other changes, mainly on foreign currency-denominated loans, raised the stock by HUF 51.2 billion. Transactions – mainly net repayments of FX loans – reduced the amount by HUF 25.2 billion.

Retail lending stock dropped by HUF 26.6 billion to HUF 7,366.6 billion. Revaluations and other changes raised the stock by HUF 57.8 billion, while transactions cut HUF 31.2 billion from the amount. Households repaid net HUF 54.8 billion of FX loans but borrowed net HUF 23.6 billion of forint loans.

Both non-financial companies and households were net depositors in August. Corporate deposit stock rose HUF 126.8 billion to HUF 4,243.7 billion and retail deposit stock edged up HUF 32.6 billion to HUF 7,535.1 billion. Revaluations accounted for about 40% of the increase in household deposits.