Hungary

Hungarian lenders outstanding stock of forint (Hungarian currency) loans to non-financial companies fell further in June, indicating that the effect of an ongoing National Bank of Hungary scheme to boost lending to small and medium-sized firms (SME) is not yet visible.

Funding for Growth Scheme has enjoyed SME attention.

Hungary's SME sector has been stagnant since at least 2005 in terms of the number of enterprises and employment, the European Commission has said in an annual assessment of progress in the implementation of the Small Business Act (SBA).

The European Investment Bank (EIB) has provided a EUR100 million loan to the Hungarian Development Bank (MFB) to finance small and medium-sized investments and infrastructure projects promoted by SMEs, midcap companies and public sector promoters in Hungary.

Hungarian factor plans to achieve over EUR175 million in volume by 2017.

The Hungarian Factoring Association has released half a year market results: the first six months of 2012 international factoring turnover was up by 36pc.

CO-OP Hungary entered a strategic partnership with Granite Bank.

The Hungarian factoring market continued to slow down in the Q1 2012.

The government of Hungary has agreed to establish a Trading House to support SME exports, citing a draft of a foreign trade and investment strategy it obtained.

Ferenc Csaki, the president of the Hungarian Factoring Association (HFA) opposes to the draft of Civil Code on factoring.