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K&H Bank Q1 profit climbs to HUF 12.6 bln

Banking

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K&H Bank had consolidated first-quarter after-tax profit of HUF 12.6 billion, up 19% year-on-year after adjustments for extraordinary items, the lender said on Wednesday, according to a report by state news wire MTI.

Outlays reached HUF 134 bln in Q1, lifting client loans to HUF 1.936 trillion at end-March, up 11% from 12 months earlier.

Loan contracts signed within the framework of the National Bank of Hungary's Funding for Growth Scheme Go! amounted to HUF 177 bln at the end of March.

K&H had total assets of HUF 4.324 tln at the end of March. 

The bank's insurance unit had Q1 after-tax profit of HUF 2.6 bln. Revenue from premiums on general insurance policies came to HUF 16.9 bln, boosted by revenue from comprehensive vehicle policies, home policies, and SME policies.

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