MKB Q3 earnings fall 29%
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.
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.