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Value of new retail loans edges up in March

The value of new retail loans signed by Hungarian banks edged up in March from the previous month, fresh data published by the National Bank of Hungary (MNB) on Friday show.

The value of new forint home loans came to HUF 15.9 billion in March, up from HUF 12.3 billion in February and HUF 8.5 billion in the same month a year earlier. The value of new contracts was just under the HUF 16.2 billion monthly average value for the twelve month period to the end of March.

The value of new consumer loans in March reached HUF 20.1 billion up from HUF 18.1 billion in February but under the HUF 20.8 billion in the same month a year earlier. New contracts were under the HUF 22.6 billion monthly average value for the twelve month period to March.

The value of new euro- and Swiss franc-based lending was negligible in March because of a ban on foreign currency-denominated mortgage loans introduced by the government last summer. Swiss franc-based loans were once the most popular retail lending product in Hungary.

Households put HUF 980.0 billion into fixed deposits in March, up from HUF 862.4 billion in the previous month and HUF 960.7 billion in the same month a year earlier.