Banking Sector Earnings Rise 4% in 2022
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Combined after-tax profit of Hungarian banks rose 3.6% to HUF 833 billion last year as write-downs and provisions weighed, data released by the National Bank of Hungary (MNB) on Tuesday show.
The sector's net interest revenue climbed 50.4% to HUF 2.493 trillion and net revenue from commissions and fees increased 23.9% to HUF 1.156 tln.
Write-downs and provisions came to HUF 540 bln, a multiple of the HUF 165 bln in the base period. MNB acknowledged the "role played by the consequences of the war" on the line.
Operating costs increased 28.3% to HUF 2.172 tln.
Total assets of the sector stood at HUF 81.048 tln at the end of December, up 15.5% from 12 months earlier. Lending stock rose 6% to HUF 47.292 tln. The stock of deposits increased 12.3% to HUF 64.501 tln.
Lenders' non-performing loan ratio stood at 3.2% at year-end, level with the ratio at end-2021 but down from 3.4% at the end of September.
Banks' loan-to-deposit ratio stood at 82.8%, up from 79.6% a year earlier.
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