National Bank of Hungary lending survey shows unchanged corporate credit standards and rising retail loan demand in 2025 Q1

The National Bank of Hungary published the results of its 2025 Q1 Lending Survey, showing banks left corporate credit conditions unchanged and do not plan to alter them in 2025 Q2 and Q3. Corporate loan demand softened at some institutions, while retail loan demand rebounded in Q1 and is expected to continue strengthening over the next two quarters. Around a quarter of surveyed banks reported lower corporate loan demand in Q1, with a net 46% indicating a decline in demand for HUF loans and long-term corporate loans, while a net 15% saw higher demand from small and micro enterprises and a net 17% expect long-term loan demand to keep falling. Commercial real estate loan standards were broadly unchanged, although 14% and 12% tightened for logistics centres and office buildings, and 14% plan to tighten credit accessibility for logistics centres in Q2 and Q3; demand rose for housing project loans (64% of banks) while a net 37% expect office-building loan demand to fall. In retail, housing loan standards were unchanged overall but a net 39% reduced spreads in Q1 and a net 45% expect to tighten price terms in the next six months; 85% of banks reported higher housing loan demand and a net 36% expect further increases. Consumer loan conditions were broadly unchanged, with 54% cutting spreads, 13% tightening secured consumer loan standards, and demand rising (net 67%), which respondents linked in part to the interest-free Subsidised Loans for Workers; a net 27% expect consumer loan demand to increase further in Q2 and Q3.