Gránit Bank Grew Above the Sector Average in 2024

Continuing the trend of previous years, Gránit Bank achieved growth above the sector average in 2024. The balance sheet total increased 3.5 times more than the banking sector average, and grew 229 times in 15 years, the Hungarian financial institution told MTI on Wednesday.

Gránit Bank said in a statement that the bank and the banking group's 2024 annual report was approved with overwhelming shareholder support, and that the group's return on equity of 23% is also significantly above the average for domestic banks at the consolidated level.

The banking group ended 2024 with a balance sheet total of nearly HUF 1,700 billion, equity capital of more than HUF 148 billion, profit before tax of HUF 23 billion and profit after tax of more than HUF 21 billion.

The statement quoted Éva Hegedüs, CEO of Gránit Bank, as saying that the general meeting held on Wednesday for the first time as a public limited company decided that - in line with the practice of previous years - the profit after tax for 2024 will also be transferred to the profit and loss reserve, which will amount to HUF 57.9 billion of the bank's equity.

Among the performance indicators, it was highlighted that Gránit Bank's equity has grown nearly 70 times over the past 15 years, and in 2024 it will grow 4.5 times faster than the sector average. Deposits have grown 225 times their starting value, 4.3 times faster than the banking sector average last year, and loans have grown 1,431 times their starting value, 4.6 times faster than the sector average last year.