TakarékBank profit climbs in 2017

Telco

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.

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