Value of new corporate forint loans reaches year-high

The value of new forint-based corporate loans signed in August was well over the HUF 155.1bn amount in July and slightly more than the HUF 219.3bn in the same month a year earlier. The August figure was the highest since banks signed for corporate forint loans of HUF 239.4bn in July 2008. he average rate for forint-based corporate loans, weighted by end-of-month stock, was 11.19pc in August, down from 11.63pc in July, but up from 10.22pc twelve months earlier. (The NBH lowered the base rate by 50bp to 8.00pc at the end of July.)

Forint overdrafts came

Forint overdrafts came to HUF 725.4bn in August, down from HUF 741.5bn in July and HUF 869.9bn twelve months earlier. The average weighted rate for overdrafts was 11.19pc in August, down from 11.88pc in July, but up from 10.20pc in August 2008. Companies put HUF 1,751.2bn into forint fixed deposits in August, down from HUF 1,853.7bn in July, but up from HUF 1,520.8bn twelve months earlier. The average weighted rate for these deposits was 8.19pc in August, down from 8.95pc in July, but up from 7.58pc twelve months earlier. Companies put HUF 1,213.6bn into forint sight deposits in August, up from HUF 1,173.6bn in July, but down from HUF 1,287.0bn twelve months earlier. The average weighted rate paid on the deposits was 2.74pc in August, down from 2.82pc in July, but up from 2.49pc in August 2008. he value of new euro-based corporate loans also rose sharply to HUF 121.1bn in August from HUF 73.1bn in July and HUF 83.3bn twelve months earlier.

The deposits

The average weighted rate for the loans was 3.28pc in August, practically level with the rate in July, but down from 6.15pc twelve months earlier. Euro-based overdrafts reached HUF 167.1bn in August, down from HUF 171.4bn in July, but up from HUF 149.4bn twelve months earlier. The average weighted rate for overdrafts was 3.75pc in August, down from 4.13pc in July and 5.53pc twelve months earlier. Companies put into HUF 817,1bn into euro fixed deposits in August, down from HUF 934.5bn in July and HUF 1,310.0bn twelve months earlier. The average weighted rate for the deposits was 2.11pc in August, up slightly from 1.97pc in July, but down from 4.30pc twelve months earlier. uro sight deposits reached HUF 564.5bn in August, up from HUF 525.2bn in July and HUF 503.0bn twelve months earlier. The average weighted rate for the deposits was 0.31pc in August, little changed from July, but well under the 1.20pc rate in August 2008.