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CIB doubles after-tax profit in 2017

After-tax profit of Italian-owned banking group CIB more than doubled to HUF 24.6 billion last year, from HUF 12 bln in 2016, the lender told state news agency MTI.   

Pre-tax profit rose 76% to HUF 27.1 bln. CIB group had total assets of HUF 1.683 trillion at the end of the year, up 3% from the end of 2016.   

The net stock of client loans was practically flat at HUF 762.6 bln, but outlays of loans to SMEs rose 11%, while outlays to big companies jumped 147%.

The lenderʼs ratio of non-performing loans (NPLs) dropped to 4.7%.

The stock of client deposits increased 2% to HUF 1.192 tln.