Granit Bank’s assets climb to HUF 142 bln
Gránit Bank, established nearly five years ago by construction industry magnate Sándor Demján to help troubled Hungarian SMEs, ended 2014 with total assets of HUF 142 bln, the bankʼs management announced yesterday, Hungarian news agency MTI reported.
Gránit booked after-tax profit of HUF 156 mln in 2014. Stock of client loans amounted to HUF 46.5 bln by year-end. Corporate loans approached HUF 43 bln and included HUF 20 bln in cheap financing from the National Bank of Hungaryʼs Funding for Growth Scheme.
Demján said that financing for the bankʼs expansion will be derived from a planned listing of its shares. The state currently has 49% stake in Gránit Bank, which it acquired in 2013.
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.