MKB books Q2 loss of HUF 3.8 bln

Banking

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%.

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