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CIB foresees competitive forint-denominated loans

The proportion of euro-denominated loans will rise compared to Swiss franc-denominated loans, and the relative competitiveness of forint-denominated loans will improve as the gap between forint and foreign currency interest rates will narrow, Hungarian Banking Association Vice Chairman and CIB Bank CEO László Török told MTI.

Török added that 63% of the loans in Hungary and 66% of CIB Bank's loans are foreign currency-denominated. Török said the proportion of euro-denominated loans will increase as Swiss franc-denominated loans become more expensive.

An independent jury awarded CIB Bank the title of “Bank of The Year” on Thursday. Török said CIB Bank considers the title to be an honor, though it also places more responsibility upon the bank. (MTI – Econews)