MNB: Banking sector turns first profit since 2010
Hungary’s banking sector had combined pre-tax profit of HUF 155.2 billion in 2013, helped by higher revenue from commissions and fees as well as one-off items, according to preliminary data published by the National Bank of Hungary (MNB) today.
The profit was a sharp improvement over a HUF 91.0 billion pre-tax losses registered in 2012. The sector last turned a profit in 2010. For 2013, the sector made HUF 67.6 billion in after-tax profit last year against an after-tax loss of HUF 173.5 billion in 2012.
Total assets of the banking sector came to HUF 31.1561 trillion on December 31, 2013, down 0.9% from the end of 2012. The contraction slowed from a 9.9% decline in 2012.
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.