Financial Companies’ Profits Fall 33% in Q1

After-tax profit of financial companies under the supervision of the National Bank of Hungary (MNB) fell 33% to HUF 13.2 billion in the first quarter from the same period a year earlier, data published by the central bank on Wednesday show.

Net interest revenue of the companies rose 9% to HUF 42.3 bln.

Income from "other business activities" fell 22% to HUF 11.4 bln.

Operating costs rose 11% to HUF 42 bln.

The data are from 236 companies.

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