Government measures, such as the windfall profit tax, the bank levy and an interest rate cap, shaved HUF 42 bln off earnings, Roebben said.
Net interest revenue increased 12% to HUF 221 bln and net revenue from commissions and fees rose 18% to HUF 105 bln. K&H Bank had over 1 million clients at the end of the year, up 5%.
Lending stock reached HUF 3.089 trillion at year-end, up 9% from 12 months earlier. New outlays came to HUF 560 bln. Stock of client deposits rose 7% close to HUF 4 trillion. Assets managed in investment funds climbed 31% to HUF 1.773 tln, while stock of government securities rose 42% to HUF 1.427 tln.
Total assets stood at HUF 6.054 tln at year-end, making K&H Bank Hungary’s third-biggest lender.
Nik Vincke, who heads K&H group’s insurance arm, said revenue from premiums rose 10% to HUF 74.9 bln for general insurance policies and climbed 14% to HUF 18.9 bln for life policies.
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