MFB lending stock reaches HUF 723 bln

Telco

Lending of stock of state-owned Hungarian Development Bank (MFB) reached HUF 723 billion in 2015, up 16% from the previous year, according to reports.

State secretary Zsuzsa NĂ©meth noted that the bank has played a key role in establishing a national utilities service and would take on further tasks related to lending and ownership based on government decisions in future, Hungarian news agency MTI reported today.

CEO Csaba Nagy said MFBĘĽs stock of problem-free loans had grown to almost 80% and would continue to rise, according to MTI. 

MFB’s after-tax profit nearly tripled to HUF 18.4 bln last year from HUF 6.7 bln in 2014, the news agency added.

Approximately HUF 9.3 bln of last yearĘĽs profit can be attributed to discontinued operations, according to public records. 

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