Total assets of Takarékbank, the bank of Hungary’s savings cooperatives, rose 5.4% to HUF 390 billion in the twelve months to the end of 2012, Takarékbank told MTI on Thursday. Takarékbank closed the year with deposits of HUF 341 billion and loans of HUF 132 billion on its books, excluding its units. The bank had after-tax profit of HUF 195 million, less than half that in the previous year because of a HUF 290 million entry fee to join the National Savings Cooperative Protection Fund (OTIVA). Takarékbank’s capital adequacy ratio reached 11.74%, well over the mandatory 8% threshold. The proportion of classified loans in the bank’s loan portfolio came to 7.4%, well under the banking sector average. The bank’s report for the period, published on is website, shows net interest revenue fell to HUF 4.2 billion on a shrinking loan portfolio and the higher cost of financing or credit. Net revenue from commissions and fees rose 30% to HUF 3.3 billion. Provisioning for losses reduced profits by HUF 340 million. Takarékbank paid HUF 1.7 billion in tax, including the bank levy, last year. The state-owned Hungarian development bank MFB recently acquired more than 39% of Takarékbank from DZ Bank of Germany.