Erste Bank Hungary Profit Climbs to HUF 115 bln in 2023

Banking

After-tax profit of Austrian-owned Erste Bank Hungary reached HUF 115 billion in 2023, more than double the HUF 53 bln in the base period, the lender said on Tuesday, according to a report by state news wire MTI.

Erste's cost-to-revenue ratio fell to 33% from 43% during the period.

The stock of client loans, including subscriptions of corporate bonds, fell during the year as outlays dropped 41%. The NPL ratio declined to 2.6% from 2.8%. 

The retail lending stock rose 7%, even as outlays declined 26%. Disbursals of home loans fell 46%, but personal loan outlays edged up 4%.

The stock of retail deposits and invested savings rose 17% to HUF 5.516 trillion.

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