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Companies net re-payers of HUF, FX loans in August

Non-financial companies were net re-payers of both forint and foreign currency-denominated loans in August, data published by the National Bank of Hungary on Friday show.

Outstanding forint debt of non-financial companies fell by HUF 1.5bn and their foreign currency debt dropped by HUF 9.2bn because of transactions in August. Stock of corporate bonds held by lenders rose by HUF 1.5bn. Overall, corporate lending stock, excluding revaluations and other volume changes, fell by HUF 9.2bn from the previous month.

Corporate deposit stock rose by HUF 50.6bn because of transactions in August. Net inflows into forint deposits came to HUF 89.5bn while withdrawals from foreign currency deposits reached HUF 38.8bn.

Foreign liabilities of credit institutions accounted for 27.4% of the sector's balance sheet total, the MNB said.