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MKB Bank H1 operating profit climbs 20%

Telco

First-half operating profit of Hungary's MKB Bank rose 20% to Ft 56.3 billion from the same period a year earlier, the bank said, citing consolidated IFRS figures.

Pre-tax profit was less than expected, mainly because of the effect of the Hungarian economy on the bank's clients, especially its SME clients. Even so, the improved operating profit shows MKB Bank is following its strategy to find new areas of growth, the bank said.

MKB Bank had total assets of Ft 2,500 billion on June 30, 2008, 19% more than twelve months earlier.

While the corporate segment slowed, lending and investment fund activity in the retail segment picked up.

MKB Bank has completed changes at its recently acquired units in Romania and Bulgaria and is now focusing on growth in the countries. (MTI – Econews)

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