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New corporate lending contracts reach lowest monthly level in years in Jan - MNB

New corporate lending contracts signed by Hungarian banks fell to the lowest monthly level in years in January, fresh monthly data published by the National Bank of Hungary (MNB) on Monday show.

New forint lending contracts signed by non-financial companies came to just HUF 93.2 billion in January, the lowest level in ten years. New corporate lending contracts came to HUF 192.4 billion in December and HUF 127.7 billion in January 2010.

New euro-based corporate lending contracts came to the equivalent of HUF 43.5 billion in January, also the lowest level since the start of the statistical series in January 2005. New EUR-based corporate loans were worth HUF 123.3 billion in December and EUR 61.7 billion in January 2010.

Forint overdrafts were HUF 754.8 billion in January, up from HUF 703.4 billion in December but over the HUF 724.2 billion monthly average in the twelve months to January.

Euro overdrafts came to HUF 205.4 billion in January, up from 194.7 billion in December and over the HUF 184.0 billion monthly average in the twelve months to January.

Companies put HUF 1,694.5 billion into forint fixed deposits in January, down from HUF 2,085.8 billion in December and under the HUF 1,780.9 billion monthly average in the twelve months to January.

Companies put HUF 764.4 billion into euro fixed deposits in January down from HUF 787.4 billion in December but over the HUF 682.1 billion monthly average in the twelve months to January.