MKB books Q2 loss of HUF 3.8 bln
MKB Bank had a second-quarter loss of HUF 3.8 billion, state news wire MTI says, citing an earnings report released today.
MKB Bank had booked after-tax profit of HUF 9.6 bln in the base period.
The report shows net interest income declined 23% to HUF 8.4 bln and net revenue from commissions and fees fell 18% to HUF 5.3 bln.
MKB Bank said it booked a HUF 4.5 bln risk cost charge in Q2.
The balance sheet shows the lenderʼs total assets stood at HUF 2.208 trillion at the end of June, up 21% from twelve months earlier. Gross client loans increased 7% to HUF 1.038 tln and client deposits climbed almost 10% to HUF 1.458 tln.
Provisions for client loans reached HUF 47 bln. The rate of loans past due 90 days or more in its portfolio fell one percentage point to 2%.
ADVERTISEMENT
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
