Hungarian Banks Disburse Huf 330bn In Loans
- 9 Oct 2014 9:00 AM
Banks disbursed 330.1 billion forints (EUR 1.06bn) of loans by Oct. 3 to small and medium-size enterprises (SMEs) in the second phase of the central bank’s scheme to boost lending for for growth. Contracts signed under phase II totalled 402.7 billion forints.
The credit went to 9,827 businesses. The central bank launched phase II of the scheme in October of last year for an initial sum of 500 billion forints. It raised the credit to 1 trillion forints a year later, in September.
Under the scheme launched in June 2013 the NBH provides zero-interest refinancing to banks which they can lend to SMEs at an APR not exceeding 2.5%.
Source www.hungarymatters.hu
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