TakarékBank profit climbs in 2017
After-tax profit of TakarékBank, the "central bank" for Hungaryʼs savings cooperatives, rose to HUF 5.79 billion last year, almost doubling from 2016, the lender revealed last Friday, as reported by state news wire MTI.
Net revenues were up 23.1% at HUF 17.2 bln. Net interest revenue rose 41% to HUF 6.6 bln, while revenue from commissions and fees climbed 15% to HUF 8.9 bln, the bank said.
Operating costs jumped 19.78%, it added.
TakarékBank had total assets of HUF 841 bln at the end of last year, up 31% from twelve months earlier.
Loan outlays reached HUF 410 bln in 2017, up HUF 90 bln from 2016.
ADVERTISEMENT
MNB Monetary Council Leaves Base Rate on Hold
Hungarian Lawmakers Ratify Finland's NATO Accession
Bureau Veritas Hungary Becomes Certifying Partner of Access4...
HIPA Awards 'Investors of the Year'
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.
