CIB H1 profit reaches HUF 12.9 bln
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 groupĘĽs 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 GroupĘĽs 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%.
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