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.

ADVERTISEMENT

17% of homeowners plan renovations this year Analysis

17% of homeowners plan renovations this year

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.