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Garantiqa lowers 2009 guarantee target

State-owned guarantor Garantiqa Hitelgarancia has lowered its guarantee target for 2009 to HUF 400 billion from HUF 700 billion because of a fall in SME lending in January-April, Garantiqa told MTI on Wednesday.

Garantiqa signed 9,595 contracts for guarantees worth a combined HUF 113 billion in January-April. Its total stock of guarantees rose HUF 23 billion to HUF 433 billion during the period. (MTI-ECONEWS)