Six of Hungaryʼs ten biggest banks profitable in 2015

Telco

Hungaryʼs ten biggest banks, based on total assets, racked up a combined HUF 10.7 billion loss last year as six were profitable but four finished in the red, an annual release of data by the National Bank of Hungary (MNB) shows, as reported today by MTI-Econews.

The six banks in the black had combined profit of HUF 196.3 bln, while the four banks in the red had a combined loss of HUF 206.9 bln.

Market leader OTP Bank had an unconsolidated loss of HUF 98.1 bln on one-offs. Still, the lender paid a HUF 46.2 bln dividend, the only loss-making bank among the biggest banks in the red to do so.

MKB Bank, which was undergoing a restructuring, had a HUF 64.6 bln loss, the second biggest of the top ten.  CIB Bankʼs loss came to HUF 23.7 bln and Erste Bank Hungaryʼs reached HUF 20.5 bln, both on one-offs.

OTP Group member OTP Mortgage Bank had after-tax profit of HUF 81.3 bln, more than any other bank. It paid its parent a HUF 31 bln dividend.

UniCredit had after-tax profit of HUF 53.4 bln, a five-fold increase over the previous year. It paid out a little more than one-quarter of its earnings as dividends.

K&H Bankʼs profit came to HUF 32.1 bln, improving over an almost HUF 15 bln loss in the previous year.

Raiffeisen Bank, Budapest Bank and Takarékbank were also profitable, though only the latter two paid a dividend.

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