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Lower provisions boost UniCredit profit in Hungary

Telco

jessica fejos

UniCredit booked after-tax profit of €125 million at its Hungarian business last year, according to an earnings report released yesterday, Hungarian news agency MTI reported this morning.

(Photo: Jessica Fejos)

Profit was up 139% from 2014 as “other charges and provisions” fell to €37 mln from €140 mln.

Net interest income edged down 3% to €205 mln but net revenue from fees and commissions rose 6% to €127 mln.

Net trading income slipped 38% to €40 mln.

Operating income was down 4% at €386 mln.

The Hungarian businessʼ stock of client loans rose 7% to €3.323 billion and client deposits climbed 24% to €4.774 bln.

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