Banking Sector Profit More Than Doubles in 2023

Banking

Photo by Patrick Daxenbichler / Shutterstock.com

After-tax profit of Hungarian banks rose 130% to HUF 1.929 trillion in 2023, state news wire MTI reports, citing data released by the National Bank of Hungary (MNB) on Tuesday.

Lenders' net interest revenue increased 32% to HUF 3.304 tln. Net revenue from commissions and fees rose 17% to HUF 1.356 tln.

Writedowns and provisions came to HUF 235 bln, well under the HUF 548 bln in 2022.

Banks' return on equity reached 19.7%, up 9.1 percentage points from the base period.

Lenders' total assets stood at HUF 90.493 tln at the end of December, up 12% from 12 months earlier. Lending stock rose 6% to HUF 49.977 tln. The stock of deposits increased 7% to HUF 69.169 tln.

The NPL ratio fell to 2.6% from 3.2%.

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.