Eximbank after-tax profit over HUF 4.6 bln in 2017

Telco

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. 

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