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Budapest Bank after-tax profit climbs 12% in 2017

State-owned Budapest Bankʼs after-tax profit rose 12% to HUF 14.6 billion last year, Chairman-CEO Koppány Lelfai said on Friday. Profits were lifted by outlays, particularly of mortgages, personal loans and corporate leases, Lelfai said.

Total assets of the bank stood at HUF 1.034 trillion at the end of last year, up 3.5% from the end of 2016, said national news agency MTI.

The net stock of client loans rose 13.5% to HUF 671 bln. The stock of client deposits edged up 2.2% to HUF 699 bln. The retail lending stock increased 4.6% to HUF 335 bln.

This year, Budapest Bank expects outlays to climb at a pace similar to 2017, Lelfai said. Mortgage outlays are targeted at HUF 40 bln, up from HUF 28.5 bln in 2017, he added.