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Erste Bank Hungary earnings up 26% in 2017

Telco

Consolidated net income of Erste Bank Hungary rose 26% to HUF 54.8 billion last year, an earnings report posted on the website of the Budapest Stock Exchange shows, cited by national news agency MTI. 

Net interest revenue climbed 15% to HUF 65.5 bln, while net revenue from commissions and fees increased 10% to HUF 48.7 bln. 

Total assets stood at HUF 2,219 bln at the end of December, up 8% from twelve months earlier.

The stock of client loans was up 10% at HUF 1,124 bln, while the stock of client deposits increased 9% to HUF 1,541 bln.

Zsuzsa Erdei, who is in charge of Erste Bank Hungaryʼs small business lending, told journalists on Wednesday that the lender aims to raise its micro and small business lending stock by more than 50% this year. It targets a 65% increase in client numbers in the segment, from around 50,000 at present, she added. 

Erste Bank Hungary has 6,000 SME clients with annual revenues of between HUF 300 million and HUF 15 bln, said division head Róbert Szerdahelyi. The SME lending stock rose 31% to HUF 170 bln last year, he added.  

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