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MKB Q3 earnings fall 29%

Banking

Third-quarter after-tax profit of MKB Bank fell 29% year-on-year to HUF 15.5 billion, an earnings report released Thursday shows, state news wire MTI reports.

Net interest income declined 11% to HUF 9.3 bln and net revenue from commissions and fees dropped 24% to HUF 5.9 bln.

MKB made HUF 1.9 bln of provisions in Q3, down from HUF 3.8 bln in the base period.

The bankʼs total assets stood at approximately HUF 2.399 trillion at the end of Q3, up 24% from twelve months earlier. The NPL rate was 3.28%.

The gross stock of client loans rose 9% to HUF 1.076 tln and stock of client deposits increased 16% to HUF 1.583 tln.

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