MFB lending stock reaches HUF 723 bln
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 Németh 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 MFBʼs 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 yearʼs profit can be attributed to discontinued operations, according to public records.
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.