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Value of new corporate lending contracts slightly up in October

The value of new lending contracts Hungarian banks signed with non-financial companies grew slightly in October after falling for four consecutive months, the National Bank of Hungary's rates report showed on Tuesday.

The value of new forint corporate loan contracts signed in October grew to HUF 150.1 billion from HUF 148.7 billion in September, but still down on the HUF 158.3 billion in August and this year's peak of HUF 227.2 billion in March.

The value of new euro-based corporate lending contracts was HUF 82.9 billion in October, down from 84.3 billion in September and 87.2 billion in August, HUF 196.4 billion in July and HUF 251.2 billion in June which was the peak so far this year.

Companies put HUF 1,719.0 billion into fixed forint deposits in October, down from HUF 2,062.4 billion in September which was up from HUF 1,916.6 billion in August and the most since December 2008. It was HUF 1,610.2 billion in October last year.

Cpmpanies put the equivalent of HUF 811.7 billion into euro fixed deposits in October, up from HUF 593.9 billion in September and HUF 467.6 billion in August, and also up from HUF 577.1 billion in October 2009. (MTI-ECONEWS)