Banking Sector Profit More Than Doubles in 2023
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After-tax profit of Hungarian banks rose 130% to HUF 1.929 trillion in 2023, state news wire MTI reports, citing data released by the National Bank of Hungary (MNB) on Tuesday.
Lenders' net interest revenue increased 32% to HUF 3.304 tln. Net revenue from commissions and fees rose 17% to HUF 1.356 tln.
Writedowns and provisions came to HUF 235 bln, well under the HUF 548 bln in 2022.
Banks' return on equity reached 19.7%, up 9.1 percentage points from the base period.
Lenders' total assets stood at HUF 90.493 tln at the end of December, up 12% from 12 months earlier. Lending stock rose 6% to HUF 49.977 tln. The stock of deposits increased 7% to HUF 69.169 tln.
The NPL ratio fell to 2.6% from 3.2%.
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