MKB Reaches HUF 61 bln After-tax Profit in Q2
Second-quarter adjusted consolidated after-tax profit of MKB Bank came to HUF 61 billion compared to HUF 30.4 bln in the base period, state news wire MTI writes, citing an earnings report released on Thursday.
Net interest income, adjusted for one-offs, climbed 88% to HUF 96.9 bln. Adjusted net revenue from commissions and fees rose 17% to HUF 20.4 bln.
MKB had total assets of nearly HUF 10.19 tln at the end of June, up 12.3% from twelve months earlier. The stock of client loans increased 12.5% to approximately HUF 4.641 tln. Client deposits rose 16.6% to HUF 6.268 tln.
MKB Bank booked a net revaluation gain of HUF 40.6 bln in Q2.
MKB's NPL ratio edged up to 3.8% at the end of Q2 from 3.7% a year before.
The bank's capital adequacy ratio was up at 17% at the end of June from 16.8% in the base period.
MKB is part of an ongoing tie-up with Budapest Bank and MTB Magyar Takarékszövetkezeti Bank that will create Hungary's second-biggest commercial lender: Magyar Bankholding.
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