Magyarországi Volksbank had total asses of about HUF 544 billion at the end of 2011, up from HUF 504 billion twelve months earlier, chairman-CEO László Balázs said in a statement, citing unaudited data.
The bank’s stock of loans rose to HUF 406 billion from HUF 385 billion during the same period.
Balázs said about 30% of the bank’s clients availed of a government-initiated scheme allowing early repayment of foreign currency-denominated mortgages at discounted exchange rates. He added that the bank racked up a more than €20 million loss because of the scheme.
The bank, recently acquired by Russia’s Sberbank, aims to achieve 5% market share in the foreseeable future, Valentin Mihov, Sberbank’s director for strategy and development, said in February.
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