Eximbank after-tax profit over HUF 4.6 bln in 2017
State-owned Hungarian Eximbank had HUF 4.62 billion after-tax profit in 2017, up from HUF 747 million in 2016, the financial institution said in an annual report on the Budapest Stock Exchange on Friday, cited by national news agency MTI.
Pre-tax profit rose to HUF 5.76 bln, up from HUF 1.06 bln. Interest income was down 4.2% at HUF 42.87 bln, while interest expenditure dropped 2.8% to HUF 24.00 bln.
Income from fees and commissions dropped steeply, falling to HUF 603 mln, down from HUF 7.21 bln, but at the same time commissions expenditure also fell to HUF 573 mln, down from HUF 6.93 bln.
Operational costs rose to HUF 7.03 bln, up from HUF 5.87 bln. Impairment on receivables fell to HUF 2.62 bln, from HUF 6.94 bln, while reversal of impairment was up at HUF 3.06 bln, from HUF 814 mln previously.
Total assets of Eximbank edged down slightly, to HUF 939.7 bln, down from HUF 940.9 bln.
Receivables from clients rose to HUF 246.4 bln, from HUF 242.0 bln, while receivables from credit institutions rose to HUF 589.5 bln, up from HUF 568.9 bln.
Czech Economic Sentiment Hits 1-year High
Chinese President to Visit Budapest in May
Hungarian Gen Z Auto-buyers Prioritize Affordability
Liz & Chain Rooftop Bar Debuts Sustainable Cocktails
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.
