TakarékBank profit slips to HUF 3 bln in 2016

Telco

After-tax profit of TakarékBank, the "central bank" for Hungaryʼs savings cooperatives, fell 7% to HUF 3 billion last year, the lender said yesterday.

Net interest revenue rose and revenue from commissions and fees climbed 33%, TakarékBank said. Operating costs rose moderately in spite of a 23% rise in headcount, it added.

TakarékBank had total assets of HUF 640 bln at the end of last year, down 18% from 12 months earlier. Net assets rose 16% to HUF 21.5 bln.

TakarékBank paid a HUF 2.2 bln dividend on last yearʼs earnings, roughly level with the dividend paid a year earlier.

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