Hungary's lending activity down in March 2012.

By bne IntelliNews May 2, 2012
The total stock of loans, extended by Hungarian banks, dropped on annual base in March 2012 mainly due to fewer credits to households, Hungary's financial statistics showed. Lending to households dropped by 4.1% y/y to HUF 7.69tn (EUR 26.7bn) as of end-March 2012 on the back of a 9.8% y/y decline in lending for house purchases. By contrast, consumer credits increased by 2.3% y/y to HUF 3.7tn. Lending to companies, on the other hand, increased by 1.9% y/y to HUF 7.36tn. The value of new forint-denominated household loans in March decreased both on a monthly and annual basis. New housing loans in domestic currency amounted to HUF 11.6bn, down from the HUF 37.1bn reported in February 2012 and down from HUF 15.9bn in March 2011. New consumer loans fell to HUF 16.2bn in March 2012 from HUF 36.9bn in the previous month and HUF 20.2bn in the same month of 2011.
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