Granit Bank’s assets climb to HUF 142 bln

Telco

Gránit Bank, established nearly five years ago by construction industry magnate Sándor Demján to help troubled Hungarian SMEs, ended 2014 with total assets of HUF 142 bln, the bankʼs management announced yesterday, Hungarian news agency MTI reported. 

Gránit booked after-tax profit of HUF 156 mln in 2014. Stock of client loans amounted to HUF 46.5 bln by year-end. Corporate loans approached HUF 43 bln and included HUF 20 bln in cheap financing from the National Bank of Hungaryʼs Funding for Growth Scheme.

Demján said that financing for the bankʼs expansion will be derived from a planned listing of its shares. The state currently has 49% stake in Gránit Bank, which it acquired in 2013.

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