First-half net profit of Erste Bank Hungary fell 69.4% to €12.6m from the same period a year earlier as risk provisions jumped, the bank's Austrian parent said in a report published on the website of the Budapest Stock Exchange.
Risk provisions climbed 75.9% to €114.5 million during the period.
Erste Bank Hungary's cost-to-income ratio improved to 40.5% in H1 2010 from 48.7% in H1 2009. Operating costs were down 6.1% at €98.8 million.
Net interest revenue in the retail and SME segment increased 12.8% to €185.9 million. Net revenue from commissions and fees climbed 25.2% to €48.6 million.
ROE was 6.5% during the period. (MTI – Econews)