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Gránit Bank Earnings Nearly Triple in 2022

Banking

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.

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