MNB net loss on interest revenue narrows

Telco

The National Bank of Hungary booked a net loss of HUF 42.7 billion on interest revenue last year, an annual report published Friday shows, according to Hungarian news agency MTI.

The loss narrowed from HUF 86.3 bln in the base period. 

The central bank booked a HUF 177.7 bln gain on exchange rate changes, down from a HUF 511 bln gain in the base period. 

The forint firmed 0.6% to the euro between the end of 2014 and the end of 2015 after weakening 6.1% in the previous year. 

Profit came to HUF 94.5 bln of which HUF 50 bln was paid as dividends. 

Total assets came to HUF 11.496 trillion at the end of December, down 9% from the end of 2014. Net assets fell 29% to HUF 459 bln.

Profit reserves were up HUF 27.4 bln at HUF 63.4 bln, reflecting the placement of 2014 profits into the reserves.

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