MKB Bank books HUF 76.4 bln loss in 2015

Telco

The renationalized MKB Bank, the sale of which is underway, posted after-tax losses of HUF 76.402 billion last year, Chairman and CEO Ádám Balog told the press today, according to Hungarian news agency MTI.

The losses halved from HUF 148.11 bln in 2014 and the loss was just HUF 1.243 bln last year if one-off items related to the reorganization of the bank were excluded. 

Last year the bank got rid of nearly HUF 213 bln in non-performing loans, which significantly reduced the loan-to-deposit ratio, Balog said.

The chairman-CEO was confident that the bankʼs sale will be successfully completed and said that the HUF 37 bln selling price is over the state support the bank received.

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