Raiffeisen Bank profit doubles on lower risk, operating costs

Telco

Raiffeisen Bankʼs after-tax profit doubled to HUF 15.7 billion last year on lower risk and operating costs, CEO Heinz Wiedner said at a press conference on Wednesday, Hungarian news agency MTI reported.

Wiedner noted that the stock of non-performing loans had dropped more than 40% to HUF 133 bln.

The bottom line was also lifted by HUF 1.9 bln from the bankʼs stake in Visa Europe, he added.

Net interest revenue declined 10% to HUF 34.4 bln.

Corporate division head Ferenc Kementzey said the corporate lending stock, excluding NPLs, was up 20% and the lenderʼs new SME outlays increased by 13%.

Retail division chief Ralf Cymanek said the bank is still among Hungaryʼs top three with more than 32,000 clients. Mortgage outlays jumped 68% last year and outlays of personal loans were up 19%, he added.

Raiffeisen Bank manages some HUF 435 bln of assets for private banking clients, he said.

Total assets edged up 1% to HUF 1.987 trillion in the twelve months to the end of December. Net client loans increased 11% to HUF 813 bln. 

ADVERTISEMENT

Varga puts 2021 GDP growth at 7-7.5% Analysis

Varga puts 2021 GDP growth at 7-7.5%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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.