BUDAPEST: 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 fall almost HUF 298 billion to HUF 6.43 trillion. Revaluations of FX loans reduced the overall stock by HUF 44.9 billion revaluations of forint loans reduced the stock by HUF 54.7 billion.
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The stock of forint loans fell by HUF 78.2 billion and that of foreign currency loans by HUF 108.8 billion, due to transactions. Holdings of bonds issued by non-financial corporation’s fell by HUF 10.6 billion. Corporate deposits also diminished, in total by about HUF 130 billion to HUF 5.07 trillion.
According to seasonally unadjusted data, there were net withdrawals of HUF 97.6 billion from forint deposits and net inflows of HUF 10.7 billion into foreign currency deposits. Revaluations diminished deposits by HUF 43.5 billion. 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.
