Net interest revenue increased 14% to HUF 1.198 trillion. Net revenue from commissions and fees climbed 12% to HUF 680 bln.
Impairment and provisions came to HUF 95 bln, well under the HUF 296 bln in the base period.
The sector's total assets stood at HUF 66.815 tln at the end of September, up 16% from 12 months earlier. Lending stock rose 15% to HUF 41.877 tln and stock of deposits increased 16% to HUF 54.209 tln.
The rate of NPLs over 90 days past due in the lending portfolio reached 1.6% at the end of September, down from 2.5% a year earlier. The rate reached 3.7% for the retail portfolio and 1.4% for the corporate portfolio.
Hungary's government rolled out a blanket repayment moratorium in the spring of 2020 to ease fallout from the coronavirus crisis. From November 1, participation in the moratorium was limited to retail borrowers whose incomes have fallen, the jobless, pensioners, and parents raising children, while corporate borrowers must show a 25% fall in revenue to join.
A report released by the central bank a week earlier shows around 5% of lenders' retail portfolio is in the conditional repayment moratorium, although 23% was eligible to participate. Just 2% of banks' corporate loan book is in the conditional moratorium, while 5% of the lending stock was eligible for participation.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
