Hungary's bank deposit growth strengthens in November

By bne IntelliNews January 4, 2015

Deposits at Hungarian banks increased by 7.3% y/y to total HUF19.66tn (€62bn) in November, registering an annual rise for the 23rd consecutive month, central bank data showed on December 31.

The annual growth rate accelerated from 6.1% in October. That was supported mainly by a 5.9% y/y rise in corporate deposits, pushing the total to HUF5.1tn.

Household deposits, on the other hand, contracted for the 20th month in a row, dropping 2.4% to HUF6.72tn. Government deposits fell to HUF2.1tn as of end-November, from HUF2.2tn a year ago.

On a monthly basis, corporate deposits rose 1.4% and household deposits moved 0.5% higher.

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