MKB released HUF 0.8 bln of provisions last year, and its ratio of non-performing loans (NPLs) declined to 5.8%, Balog was cited as saying by state news agency MTI.
The lender closed the year with total assets of HUF 1.857 trillion, down 9.2% from 12 months earlier. Its stock of client deposits fell 11% to HUF 1.372 tln, while the stock of securities declined 19% to HUF 773 bln. MKBʼs net lending stock rose 4.3% to HUF 895.2 bln.
Operating costs at MKB rose 8.4% to HUF 50.6 bln, as the bank made the move to digitalization, closing 18 branches.
This year, MKB targets profit somewhere between last yearʼs HUF 25.1 bln and 2017ʼs HUF 19.2 bln, Balog said. He added that shareholders decided to float the bankʼs shares on the Budapest Stock Exchange (BÉT) and will soon announce details of the move. He added that, in his opinion, the lender should first float 20-30% of its shares on the bourse.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
