Hungary's household loan portfolio tops 13 trillion forints, outpacing corporate debt

Household loan debt in Hungary surged 17.4% year‑on‑year, reaching 13.278 trillion forints by the end of March, according to the National Bank. This marks the first time that household debt has exceeded the loan book of non‑financial companies, whose debt grew only about 7.7% (roughly 1 trillion forints) in the same period.

The rapid expansion is linked to the Otthon Start supported mortgage programme launched in September, which offers low‑interest rates (up to 3% annually) and sizable one‑off cash rebates from banks. The new‑issue mortgage pool more than doubled, breaking the 1 trillion‑forint threshold and surpassing 780 billion forints previously recorded. Banks such as Gránit, Erste, CIB and MBH are offering rebates ranging from 200,000 to 500,000 forints alongside the low‑rate loans.

Overall, the data show a strong consumer‑driven credit demand fueled by rising real wages, increased consumption and falling loan rates, while corporate borrowing remains modest due to limited EU funds and low investment activity.