Strong growth in Hungary SME lending continued in 2017 Q2
In 2017 Q2, developments in corporate and household lending showed a further improvement. The annual growth rate of total corporate loans accelerated to 7 per cent. Lending to SMEs, including the self-employed sector, expanded by 13 per cent. As a result, SME lending was able to grow on market basis following the termination of the Funding for Growth Scheme.Market-based lending is still supported by the MNB’s Market-based Lending Scheme. Under the scheme, banks raised their lending commitments relating to this year to almost HUF 230 billion. The expansion in household lending continued: outstanding credit to the sector increased by 2.8 per cent year-on-year, which is unprecedented since the beginning of the global financial crisis.
Source: Press release – National Bank of Hungary