According to a report by state news wire MTI, K&H highlighted that government-imposed windfall profit taxes, the bank levy, and an interest rate cap on certain loans had reduced group-level pre-tax profit by HUF 40 bln.
The bank’s client base expanded by 5% to 990,000 during the period, with the number of clients receiving monthly salary transfers rising 6% to 613,000.
K&H’s lending stock increased by 10% to HUF 2.972 tln, with total outlays reaching HUF 275 bln. Corporate lending stock grew 9%, with outlays at HUF 120 bln, while retail lending stock climbed 11%, fueled by new mortgage contracts surpassing HUF 100 bln.
Client deposits also saw a 10% rise, reaching HUF 3.781 tln.
However, the insurance division reported a HUF 0.7 bln loss in the first half, due to the windfall profit tax. Despite this, revenue from premiums on general insurance policies grew 10% to HUF 39.8 bln.
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