CIB doubles after-tax profit in 2017
After-tax profit of Italian-owned banking group CIB more than doubled to HUF 24.6 billion last year, from HUF 12 bln in 2016, the lender told state news agency MTI.
Pre-tax profit rose 76% to HUF 27.1 bln. CIB group had total assets of HUF 1.683 trillion at the end of the year, up 3% from the end of 2016.
The net stock of client loans was practically flat at HUF 762.6 bln, but outlays of loans to SMEs rose 11%, while outlays to big companies jumped 147%.
The lenderʼs ratio of non-performing loans (NPLs) dropped to 4.7%.
The stock of client deposits increased 2% to HUF 1.192 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.