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bankingsector

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OTP Bank: Considerable Profit in 2023

D&T
Mar 8, 2024

OTP Bank's consolidated adjusted profit after tax for the last quarter of last year was HUF 229.987 billion, exceeding the average expectations, closing the year at HUF 1,008.583 billion, according to a release published on the website of the Budapest Stock Exchange (BSE) on Friday morning. Based on a summary of unaudited individual and consolidated […]

Erste Group's Operating Profit Increased Last Year

D&T
Feb 29, 2024

Erste Group achieved an operating profit of EUR 5.5 billion in 2023, up 38% year-on-year, according to a preliminary profit outlook, the company said on its website on Thursday. The cost/income ratio improved to 47.6% from 53.4% as operating income growth outpaced operating expenses. Loans rose 2.8% year-on-year from EUR 202.1 billion to EUR 207.8 […]

UniCredit Plans Acquisitions in the Region

D&T
Dec 18, 2023

UniCredit CEO Andrea Orcel has confirmed that the Italian banking group is interested in acquisition opportunities, especially in Central and Eastern Europe, but will continue to take a disciplined approach, the financial portal portfolio.hu quotes Reuters news agency as saying. In an interview with the Frankfurter Allgemeine Zeitung (FAZ), Orcel said that “we are likely […]

Hungarian Banking Sector Assets Value Up on Q2

D&T
Dec 5, 2023

At the end of 2023 Q3, the credit institution sector consisted of ten banking groups, eight solo credit institutions, two financial enterprises subject to prudential regulation affecting credit institutions, as well as nine branches. The decrease in the number of institutions included in the publication was caused by the consolidation of a single domestic credit […]

Hungarian Banking System Stable, Well Capitalized

D&T
Nov 28, 2023

The Hungarian banking system remains stable and its resilience to shocks is strong. Profitability is remarkably high, with interest income on central bank deposits as a significant contributing factor, the National Bank of Hungary (MNB) says in a statement on its website. Deposits by households and non-bank financial institutions in the banking system declined, although […]

Erste Bank Hungary Increased Profit in Q1-3

D&T
Nov 15, 2023

Erste Bank Hungary Plc.'s operating profit increased from HUF 67.4 billion to HUF 150.4 billion in the first nine months of this year compared to the same period last year, the company told MTI on Wednesday. Profit after tax was HUF 89.9 billion, while the bank closed the first nine months of 2022 with a […]

Polish Financial Institution to Appear in Hungary

D&T
Oct 17, 2023

Poland's PKO Bank plans to open a representative office in Hungary and next year will start operations as a branch in Romania, the announcement of the CEO of the financial institution, Dariusz Szwed, has been quoted by the financial website portfolio.hu He stressed that the bank currently provides cross-border services on the Romanian market. He […]

K&H Bank's H1 2023 Results Up Significantly

D&T
Sep 11, 2023

K&H Bank's profit in the first half of this year was HUF 35.8 billion, up from HUF 9.7 billion a year earlier, driven by lending and an expanding customer base, the bank said at a press conference in Budapest on Monday.  Guy Libot, CEO of K&H Group, said that despite the negative impact of the […]

Unprecedented Profits at Hungarian Banks

D&T
Sep 4, 2023

Despite the extra profit tax, interest rate freeze and credit market slowdown, the Hungarian banking sector made unprecedented profits in the first half of this year. The domestic profit of HUF 676 billion means that for the first time in a long time, the sector's profit on equity rose above 20%. On a non-consolidated basis, […]

Erste's Profit Up by HUF 15 Bn in Two Years

D&T
Aug 9, 2023

Erste Bank Hungary's profit after tax, including one-off effects, amounted to HUF 46.7 billion in the first half of the year, compared to HUF 4.4 billion in the same period last year and HUF 31.7 billion in the first half of 2021, the CEO of Erste Bank Hungary, Jelasity Radovan said at a press conference […]

OTP Bank Awards Companies in Three Categories

D&T
Apr 26, 2023

Hungary’s largest commercial financial institution, OTP Bank has awarded its corporate clients in three categories – innovation, social responsibility and international expansion – for their outstanding performance, the bank said in a statement sent to MTI on Wednesday. The Chairman and CEO of OTP Bank, Sándor Csányi said that the OTP Business Excellence Award aims […]

China Construction Bank Opens a Branch in Hungary

D&T
Apr 21, 2023

China Construction Bank (CCB), the world's second largest credit institution by assets, has opened a branch in Hungary, it was announced at the opening ceremony in Budapest. Minister of Economic Development Márton Nagy said he hoped CCB's presence would open up space for further development. He believes that China will be a major player in […]

CIB Group: Outstanding Result in 2022 Financial Year

D&T
Mar 23, 2023

CIB Group closed the 2022 financial year with an outstanding result: its profit increased by 128% to HUF 36.1 billion, the financial institution told MTI on Thursday. CIB Group's revenues amounted to HUF 135.6 billion, up 71.0% year-on-year. This was mainly due to the rising interest rate environment and increasing business activity, especially the expansion […]

OTP Bank: U.S. Firm Acquires over 5% Ownership

D&T
Mar 22, 2023

OTP Bank Plc. has announced on the website of the Budapest Stock Exchange that as of March 21, 2023, T. Rowe Price International Ltd. has increased its voting right in OTP Bank Plc. to 5.02% via owning 14,037,515 ordinary shares. According to a report by the business news site vg.hu quoting Morningstar data, T. Rowe […]

OTP's Results Boosted by Foreign Banks

D&T
Mar 10, 2023

Foreign subsidiaries largely compensated for the losses caused to the group by the war and Hungarian government measures, with after-tax profit falling by only 24% to HUF 347 billion last year compared to a year earlier, Deputy CEO László Bencsik said at a press conference presenting OTP Group's last year's report on Friday. He pointed […]

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