MNB: Corporate lending stock of Hungarian banks fall in March

Telco

Corporate lending stock of Hungarian banks fell in March from the previous month as companies made loan repayments and the value of loans diminished, fresh data from the National Bank of Hungary (MNB) shows.

Corporate lending stock of the banks fell almost HUF 298 bln to HUF 6.43 trillion. Revaluations of FX loans reduced the overall stock by HUF 44.9 bln; revaluations of forint loans reduced the stock by HUF 54.7 bln.

The stock of forint loans fell by HUF 78.2 bln and that of foreign currency loans by HUF 108.8 bln, due to transactions. Holdings of bonds issued by non-financial corporations fell by HUF 10.6 bln. 

Corporate deposits also diminished, in total by about HUF 130 bln to HUF 5.07 trillion.
According to seasonally unadjusted data, there were net withdrawals of HUF 97.6 bln from forint deposits and net inflows of HUF 10.7 bln into foreign currency deposits. Revaluations diminished deposits by HUF 43.5 bln. 

The forint firmed about 1.2% to the euro between the end of February and the end of March, calculating with the central bankʼs daily fixing.

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