MKB Bank Earnings Climb 27% in 2022

Banking

Wikimedia Commons/Globetrotter19

Consolidated after-tax profit of MKB Bank rose 27% to HUF 91.2 billion last year, an earnings report published on Thursday shows, according to a report by state news wire MTI.

Adjusted net interest revenue rose 109% to HUF 419.1 bln and net revenue from commissions and fees edged up 4% to HUF 74.3 bln.

MKB had total assets of HUF 10.455 trillion at the end of December, up 15% from 12 months earlier. Net stock of client loans rose 15% to HUF 4.589 tln. Client deposits increased 15% to HUF 6.307 tln.

At a press conference after the release of the report, CFO Peter Krizsanovich said MKB Bank's acquisition of the portfolio of the failed local unit of Russian-owned Sberbank added 5% to lending stock. MKB Bank took over 35,000 retail clients and 3,000 corporate clients in the transaction, he added.

MKB Bank will complete its merger with Takarekbank on April 30 to create Hungary's second-biggest commercial lender.

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