Banking Sector Profit Falls 35% in Q2

Banking

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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.

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