Gránit Bank Earnings Nearly Triple in 2022
After-tax profit of Gránit Bank rose 195% to HUF 11.3 billion last year, chairman-CEO Éva Hegedüs said after the lender's general meeting on Tuesday, according to a report by state news wire MTI.
Gránit Bank's owners decided to place all of the earnings into profit reserves, in line with the practice since the bank started operating, Hegedüs said.
The bank had total assets of HUF 1.019 trillion at the end of December, up 49% from 12 months earlier. The stock of deposits rose 67% to HUF 674 bln and lending stock climbed 40% to HUF 436 bln. The lender's NPL ratio was just 0.02%.
Gránit Bank's cost-to-revenue ratio was 43.9% and its return on equity was over 25%.
The bank had 104,000 client accounts at the end of last year.
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.