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CIB Group Earnings Double in 2022

Banking

CIB group's after-tax profit rose 128% to HUF 36.1 billion last year, the lender said on Thursday, according to a report by state news wire MTI.

Revenue climbed 71% to HUF 135.6 bln, lifted by higher interest rates and increased business activity.

The group noted that it paid HUF 14.1 bln on the bank levy and windfall profit tax, while the impact of rate freezes came close to HUF 10 bln.

CIB group's stock of client loans stood at HUF 1.466 trillion at the end of December, up 16% from 12 months earlier. The stock of client deposits rose 6% to nearly HUF 2.134 tln.

CIB group, a member of the Intesa Sanpaolo group, has close to 415,000 clients.

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