MKB Reaches HUF 61 bln After-tax Profit in Q2

Banking

Wikimedia Commons/Globetrotter19

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.

ADVERTISEMENT

Czech Republic Manufacturing PMI Lowest Since May 2020 Analysis

Czech Republic Manufacturing PMI Lowest Since May 2020

Gov't Mulls Bailout for Dunaferr Government

Gov't Mulls Bailout for Dunaferr

Blue Chip Art and Passion Assets - Claudia Worthington Hess ... Podcasts

Blue Chip Art and Passion Assets - Claudia Worthington Hess ...

Magyar Posta to Close 35 Post Offices in Capital City

Magyar Posta to Close 35 Post Offices in Capital

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.