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MBH Group H1 Earnings Reach HUF 84.7 bln

Banking

The after-tax profit of MBH Group, Hungary's second-biggest commercial lender, reached HUF 84.7 bln in the first half, state news wire MTI writes, citing an earnings report released on Thursday.

Earnings improved from a HUF 9.9 bln loss in the base period.

Net interest income climbed 67% to HUF 288.1 bln. Net revenue from commissions and fees edged up 2% to HUF 43 bln.

MBH booked HUF 60.7 bln on the banking levy and the windfall profit tax during the period. It received a HUF 4.8 bln rebate on an earlier extraordinary contribution to the National Deposit Insurance Fund (OBA) to cover the former clients of failed Russian-owned Sberbank Magyarorszag.

MBH had total assets of HUF 10.467 trillion at the end of June, up 2% from 12 months earlier. Gross stock of client loans rose 7% to HUF 4.95 tln and deposit stock increased 2% to HUF 6.346 tln.

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