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Forex home loan stock reaches 52% of total

Foreign currency-denominated products accounted for 52% of the Hungarian banking system's stock of home loans at the end of June, up one percentage point from a year earlier, fresh data published by the Central Statistical Office (KSH) reveals.

The banking system's stock of home loans, both forint and foreign currency-denominated reached Ft 3,249 billion - or almost 13% of GDP - at the end of June.

Banks signed more than 71,000 new home loan contracts worth almost Ft 450 billion in H1. Foreign currency-denominated products accounted for 90% of the value of the new contracts.

The proportion of state-subsidized home loans within fresh loans in H1 dropped to 8% from 15pc, as subsidies are not available for foreign currency-denominated loans.

Just 1% of the stock of home loans was non-performing at the end of June. (MTI – Econews)