CIB Group loss books HUF 151.9 bln loss for 2012

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CIB Group, the Hungarian unit of Intesa Sanpaolo, quadrupled its after-tax loss last year to HUF 151.9 billion from HUF 37.3 billion a year earlier, the group announced Friday, attributing the slope to the difficult economic environment, the deteriorating loan portfolio, the growing financing costs and the extremely high extraordinary bank levy. CIB Group had total assets of HUF 2,119.3 billion at the end of last year, falling from HUF 2,524 billion a year earlier. CIB Group had a 14.0% share of Hungary's corporate lending market at the end of the period, in line with 14.2% a year earlier. It was market leader on the leasing market and accounted for 10.7 % of all new outlays in the segment, up from 8.7% a year earlier. It raised its market share in retail deposits, to 10.1% from 9.8%. However, CIB Group's stock of client deposits sank to HUF 1,363 billion from HUF 1,473 billion, and its gross client loans fell further, to HUF 1,832.4 from HUF 2,178 billion at the end of 2011, when it dropped HUF 160 billion. CIB booked HUF 155.6 billion in lending losses and risk provisions, sharply up from HUF 105 billion in 2011 and HUF 83 billion in 2010.

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