Although the maximum interest rate applied to residential mortgage loans has been in effect for more than two years,
Household credit debt due more than 90 days rose to its highest level in three years. According to data from Magyar Nemzeti Bank (MNB), at the end of September customers already owed banks more than 155 billion Hungarian forints for more than three months.
The amount corresponding to loan contracts that were not repaid for more than 90 days and were therefore classified as doubtful loans, increased by more than 2.5 billion Hungarian forints in the third quarter of last year . quarter.
At the same time, there is still no reason for serious panic and I believe that the proportion of non-performing loans is still small, at 1.53 percent, compared to the total household debt, which exceeds HUF 10,146 million . In addition, there was a slight improvement in the ratio compared to the second quarter, thanks to new loan disbursements growing faster than the increase in debts of distressed debtors.
Interest Rate Cap Actually Protects Home Loan Borrowers
Thanks to the interest rate cap, housing loans are achieving excellent results: the market real estate loan debt of HUF 22.6 billion that has not been repaid for more than 90 days amounted to 0.56 percent of the total portfolio of doubtful loans at the end of September. Meanwhile, a persistently high percentage of outstanding loans over the year is a warning sign: in the first quarter, the proportion of those with debts more than 90 days old was just 0.51 percent, at the end of September this anus. The ratio increased to 0.56 percent: the volume of outstanding customer debts of more than 3 months increased by more than 4 percent in one quarter to the already mentioned 22.6 billion Hungarian forints. In addition, the expansion can be attributed to those who have recently decreased, to clients who have debts greater than ninety days but within a year.
However, in the case of subsidized loans, the market recorded its third best quarter since 2009 (on par): only 1.57 percent of total loans of HUF 903 billion and non-performing loans of 14, 2 billion HUF.
Historical success
A more historical finding indicates that in the case of open-use mortgage loans, in the Central Bank’s statistics since 2009, there was no example in which the balance of unpaid loans for more than 90 days had not reached the maximum. 3 percent rate. However, at the end of September last year, only 22.4 billion forints of the 7.51 billion forints owed had not been paid at least during the quarter. Furthermore, the amount owed for total collection has been continuously decreasing for more than a year, compared to the previous year’s HUF 27.6 billion, and is almost a fifth less, i.e. more than HUF 5 billion less, which is the amount the banks can now worry about. About payment.
The volume of outstanding personal loans is at its highest level in a decade
In the case of personal loans the situation is not so rosy. You have to go back a total of 11 years to find in the statistics for September this year an unpaid balance of more than 56.95 billion Hungarian forints. Another question is how
In 2012, borrowers defaulted on more than a fifth (21.45 percent) of loans that remained unpaid for more than a quarter. But in September last year, the equivalent amount of long-term loans accounted for only 4.11 percent of the total $1.385 billion in personal loans.
The third. During the first quarter, the balance of loans unpaid for more than 90 days increased by only HUF 1 billion, while thanks to new contracts, the balance of personal loans with clients increased by almost HUF 34 billion, for which the ratio of unpaid loans rose from 4.13 in June to 4. By the end of September, it had fallen to 11 percent.
Pay off credit card debt, increase account balances
There is one part of the outstanding debtor statistics that suggests, however modestly, that thanks to lower inflation, households may have found themselves in a slightly easier position during the summer months. The amount of credit card debt that can be used to solve temporary payment problems is one-third of the year. It decreased by 1.7 percent, or more than HUF 3.8 billion. It is true that the annual increase in the amount of card debt exceeds 8 percent. The volume of credit card debts that have not been paid for more than 90 days has decreased more than the decrease in inventory compared to June and, thanks to this, has fallen from HUF 10.1 billion at the end of June to HUF 9.76 billion again. – The last question is whether the second. Excluding the quarterly amount, the unpaid credit card inventory amount was higher exactly 5 years ago. 4.4 percent of total credit card debt was considered questionable in the third. At the end of the quarter.
If the outlook is positive for credit cards, in fact there is no clear trend reversal in the case of current account lines of credit. The third. In the first quarter, the volume of customers’ overdraft debts increased by more than HUF 1 billion to HUF 153.1 billion, but the most serious problem is indicated by the fact that the amount of accumulated debt more than 90 days ago it increased 6.5 percent. 321 million Hungarian forints, up to more than 5.2 billion Hungarian forints.
The stock of car loans steadily decreases as older loans mature: 6 years ago, the stock of car loans was double the size of 89.9 billion forints at the end of September. In addition to the contraction of loans, the stock of long-term loans is also being significantly reduced, and now, in the second quarter, the percentage of non-performing auto loans is less than 5 percent; Today it is almost inconceivable that financiers in 2009 waited more than 90 days to return 6 florins out of 10 loans.
Last year saw a renaissance in commodity lending. The amount granted by banks on credit for the purchase of goods increased by almost 20 percent to HUF 2,072 million, and although the amount of loans for goods unpaid for more than 90 days increased by more than 76 percent, the amount was only HUF 11.2 billion. 0, which represents 51%, means that this credit product is currently the safest
2024-01-06 16:21:37
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