Hungarys household, business lending drops in August 2012.

By bne IntelliNews October 1, 2012
The combined value of loans extended by Hungarian commercial banks dropped on an annual basis in August 2012 mainly due to lower household lending, the central bank's financial statistics showed. Lending to households declined for a ninth month in a row in August, falling 13.2% y/y to HUF 7.36tn (EUR 25.97bn), slower than July's contraction of 15% y/y. The deterioration was mostly due to lower lending in the house purchases segment, which witnessed an 18.4% annual fall. In addition, consumer credits declined 7.6% y/y to HUF 3.5tn. Business lending shrank 4.1% y/y, slower than the 4.7% y/y drop in the previous month. The stock of credits to non-financial corporations reached HUF 7tn at end-August 2012. The value of new forint-denominated household loans in August decreased on an annual basis. New housing loans in domestic currency fell to HUF 10.9bn, down from the HUF 19.4bn reported in the same month a year earlier and down from HUF 11.8bn in July 2012. New consumer loans amounted to HUF 15.3bn in August 2012, down from HUF 18.4bn a year earlier.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Assets of Hungarys investment funds up 3.2% m/m in Feb 2013.

Hungary's investment funds had aggregate assets of HUF 3.657tn (EUR 11.98bn) as of end-February 2013, up by 3.2% m/m, MTI news agency reported citing data from the association of investment funds ... more

Hungary's number of employees down 0.6% y/y in Jan 2013.

The number of employees in Hungary's public and private sectors fell for the tenth straight month in January 2013 declining by 0.6% y/y to 2.574mn, the statistics office informed. The decline ... more

Hungarys MVM clears deal for purchasing E.ONs local units.

The assembly of state-owned Hungarian Electricity Works (MVM) has approved the purchase of the local gas business of German power utility E.ON, Hungary AM reported, citing local daily Magyar ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    6 days ago
  2. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    7 days ago
  3. Russia’s war economy boosted by rising oil prices
    8 days ago
  4. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  5. Russia’s $13.4bn current account surplus in March second highest since 2007
    7 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    24 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    29 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    27 days ago
  5. UBN: Russia could take the Baltic states in 48 hours
    1 month ago

Reports

Dismiss