ADVERTISEMENT

CIB H1 profit reaches HUF 12.9 bln

Telco

jessica fejos

The Italian-owned CIB Group had after-tax profit of HUF 12.9 bln in the first half, a huge improvement over a HUF 20.9 bln loss in the corresponding period of 2015, the lender revealed Monday, according to Hungarian news agency MTI.

The groupʼs total assets stood at HUF 1,592 billion at the end of June, falling 5% from the end of December on a drop in client loans.

Net revenue from interest, commissions and fees rose 46% to HUF 39.8 bln, despite a 9% drop in net interest revenue to HUF 14 bln.

The ratio of non-performing loans in the lending portfolio fell 0.7 percentage points to 14.6% in the first half.

CIB Groupʼs capital adequacy ratio reached 19.5% at the end of June.

The bank had a 5.3% market share in terms of new retail outlays. Its share of the investment fund market reached 7%.

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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.