Raiffeisen Bank Earnings Nearly Double in 2022

Banking

After-tax profit of Austrian-owned Raiffeisen Bank Zrt rose 96% to HUF 72.1 billion last year, an earnings report released on Friday shows, state news wire MTI.

The lender's net interest revenue jumped 100% to HUF 139.4 bln and net revenue from commissions and fees increased 27% to HUF 73.3 bln.

Raiffeisen Bank booked a HUF 59.8 bln loss on the "other results" line, more than double the HUF 25 bln loss in the base period, as a windfall profit tax and rate freezes weighed.

Raiffeisen Bank had total assets of HUF 4.321 tln at the end of December, up 13% from 12 months earlier. The stock of loans increased 20% to HUF 1.835 tln and stock of deposits edged up 1% to HUF 2.909 tln.

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