The value of euro-based loans Hungarian banks signed with corporate clients in July exceeded the value of forint loans for the second month in a row, fresh data published by the National Bank of Hungary (NBH) on Tuesday show.
The value of new euro-based loans came to the equivalent of HUF 196.4bn in July and the value of forint loans reached HUF 170.8bn.
The value of euro-based loans Hungarian banks signed with corporate clients in June exceeded the value of forint loans for the first time since March 2009.
The value of new euro-based loans signed in July was down from 251.2bn in June, but up sharply from HUF 73.1bn in the same month a year earlier. The monthly average for new loans in the twelve months to July was HUF 129.2bn.
The average rate for the loans was 3.30pc, little changed on the month or the year.
The value of new forint loans slipped slightly from HUF 174.7bn in June and was down from HUF 155.1bn in the same month a year earlier. The amount was roughly in line with the HUF 178.8bn monthly average for the twelve months to July.
The average corporate lending rate was 7.99pc in July, down from 11.67pc a year earlier.
Companies put EUR 456.7bn into fixed euro deposits in July, down from HUF 593.2bn in June and HUF 934.5bn in the same month a year earlier. They put in an average monthly HUF 707.7bn into the deposits in the twelve months to July.
Banks paid an average 1.66pc rate on the deposits, down from 1.97pc a year earlier.
Companies put HUF 1,804.6bn into fixed forint deposits, down from HUF 1,925.6bn in June and 1,853.7bn twelve months earlier, but over the HUF 1,671.3bn twelve-month monthly average.
Banks paid an average 7.99pc on the deposits, down from 11.67pc a year earlier.