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Value of new retail loan contracts grows in June

The value of new loan contracts banks signed with retail clients grew in June, fresh data published by the National Bank of Hungary (MNB) on Friday show.

Banks signed contracts for forint consumer loans worth HUF 28.1 billion in June, up from HUF 23.5 billion in May and HUF 15.9 billion twelve months earlier. The value of new home loan contracts came to HUF 19.9 billion, up from HUF 14.1 billion in May and HUF 17.8 billion in June 2009.

Retail borrowers paid an average rate of 16.75% on the consumer loans, down from 17.24% in May and 17.86% in June 2009. They paid an average 10.92% on the home loans, down from 11.01% in the previous month and 11.68% twelve months earlier.

The value of new euro-based retail loans inched up too in June from the previous month. The value of EUR-based consumer loans rose to the equivalent of HUF 3.7 billion in June from HUF 2.5 billion in May, but was well under the HUF 12.6 billion amount in June 2009.

The value of EUR-based home loans came to HUF 4.2 billion in June, up from HUF 3.7 billion in May, but down from HUF 15.0 billion twelve months earlier. Households paid an average rate of 8.20% on the consumer loans in June, up from 7.81% twelve months earlier. The average rate for EUR-based home loans was 7.25%, down from 6.99% a year earlier.

Households put HUF 974.7 billion into fixed deposits in June, down from HUF 1,040.3 billion in May and HUF 1,169.7 billion twelve months earlier. Banks paid an average 4.53% on these deposits, down from 4.97% in May and 9.05% twelve months earlier. (MTI-ECONEWS)