Banking Sector Profit Falls 35% in Q2

Banking

Photo by Andocs / Shutterstock.com

After-tax profit of Hungary's banking sector fell 35% year-on-year to HUF 147 bln in the second quarter, state news wire MTI reports, citing data released by the National Bank of Hungary (MNB) on Friday.

Net interest revenue of the sector climbed 39% to HUF 543 bln and net revenue from commissions and fees rose 13% to HUF 256 bln.

Write-downs and risk provisions came to HUF 65 bln, more than double the HUF 29 bln in the base period.

The data show lenders' total assets stood at HUF 76.132 trillion at the end of June, up 19% from 12 months earlier. The lending stock rose 24% to HUF 49.295 tln. The stock of deposits increased 18% to HUF 61.468 tln.

The NPL ratio for the sector climbed to 3.5% from 3.4% during the period.

Farmgate Prices Fall 25.4% in February Crops

Farmgate Prices Fall 25.4% in February

Hungary in Talks on Attracting More Chinese Investments - Sz... Int’l Relations

Hungary in Talks on Attracting More Chinese Investments - Sz...

Close to 2,500 Companies Apply for EV Subsidies Automotive

Close to 2,500 Companies Apply for EV Subsidies

Chresten Bruun Wins Expat CEO of the Year Award Awards

Chresten Bruun Wins Expat CEO of the Year Award

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.