Hungarian Bankholding Achieved a Profit of More than EUR 174 Million Last Year

MTI-Hungary Today 2022.06.28.

Hungarian Bankholding achieved a profit before tax of HUF 69.5 billion (EUR 174 million) last year, while its total comprehensive income amounted to HUF 65.5 billion (EUR 164 million), the banking group informed MTI on Monday.

According to the statement, among the member banks, MKB Bank’s profit after tax amounted to HUF 60 billion (EUR 150 million), Budapest Bank’s profit after tax was HUF 10.8 billion (EUR 27 million), and MTB Magyar Takarékszövetkezeti Bank’s profit after tax was HUF 2 billion (EUR 5 million).

Following a 15 percent increase, the consolidated balance sheet total of the banking group reached HUF 9,630 billion (more than EUR 24 billion) by the end of the year.

The holding’s net interest income increased to HUF 203 billion (EUR 507 million), it was reported.

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The holding company’s total customer deposits exceeded HUF 6,170 billion (EUR 1,540 million), of which HUF 4,125 billion (EUR 10,230 million) were corporate deposits and HUF 1,884 billion (EUR 4,700 million) were retail deposits.

The Group’s gross loan portfolio exceeded HUF 4,400 billion (EUR 1,100 billion) in the first quarter, of which corporate loans amounted to HUF 2,486 billion (EUR 6 billion), and retail loans to HUF 1,377 billion (EUR 3 billion).

According to the statement, Antal Martzy, Deputy CEO of the holding company, said that the holding company is financially sound and its member banks have performed excellently despite the volatile external environment, while successfully completing the tasks associated with the merger and transformation.

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Their aim is to “build a unified, stable, capital-strong bank that will provide a customer experience unrivaled in the banking sector and will be competitive internationally,” he said.

The merger of Budapest Bank and MKB Bank was completed at the end of March this year, with the credit institution temporarily operating under the name MKB Bank Nyrt. Takarékbank will legally join the group until May 2023, when the new brand of the unified big bank will be introduced. The member banks currently serve a total of almost 2.5 million customers, the company said.

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