Erste Bank Hungary Q1 Earnings Close to HUF 29 bln
After-tax profit of Austrian-owned Erste Bank Hungary was close to HUF 29 billion in the first quarter, climbing from HUF 6.3 bln in the base period, chairman-CEO Radovan Jelasity said at a press conference on Wednesday, according to a report by state news wire MTI.
Operating revenue rose 32% to HUF 92.6 bln, boosted by a 22% increase in revenue from commissions and fees, Jelasity said.
Retail lending stock increased 8% in the 12 months to the end of March, while new outlays climbed 59pc to HUF 63 bln in Q1, said deputy-CEO László Harmati. Outlays of state-subsidized prenatal baby credit reached HUF 10 bln, while outlays of personal loans jumped 63% to HUF 22 bln, he added.
The stock of corporate loans and bonds fell 5% to HUF 1.117 tln, said deputy-CEO Róbert Cselovszki.
The stock of retail deposits and investments rose 23% to HUF 5.847 tln.
In an earnings report released a week earlier, parent company Erste Group booked net interest income of EUR 121 mln at the Hungarian unit, down 18%. Net revenue from commissions and fees climbed 22% to EUR 69 mln.
Total assets at the Hungarian business stood at EUR 13.579 at the end of March, down 4% from 12 months earlier.
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