MBH Group H1 Earnings Reach HUF 84.7 bln
The after-tax profit of MBH Group, Hungary's second-biggest commercial lender, reached HUF 84.7 bln in the first half, state news wire MTI writes, citing an earnings report released on Thursday.
Earnings improved from a HUF 9.9 bln loss in the base period.
Net interest income climbed 67% to HUF 288.1 bln. Net revenue from commissions and fees edged up 2% to HUF 43 bln.
MBH booked HUF 60.7 bln on the banking levy and the windfall profit tax during the period. It received a HUF 4.8 bln rebate on an earlier extraordinary contribution to the National Deposit Insurance Fund (OBA) to cover the former clients of failed Russian-owned Sberbank Magyarorszag.
MBH had total assets of HUF 10.467 trillion at the end of June, up 2% from 12 months earlier. Gross stock of client loans rose 7% to HUF 4.95 tln and deposit stock increased 2% to HUF 6.346 tln.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
