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 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 […]
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 (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 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 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 […]
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 […]
Erste Bank had a successful year in 2022, with lending growth and operating income up, but profits lower than in the previous year due to one-off tax and regulatory charges, Erste CEO Jelasity Radovan has told a press conference in Budapest. He added that two acquisitions were successfully completed last year, the takeovers of Commerzbank […]
K&H Bank's profit after tax decreased by 10% to HUF 67.6 billion in 2022, Attila Gombás, head of K&H Bank's financial division, said at an online press conference on Monday. He pointed out the decline was mainly due to the fact that their operating costs increased more than revenues, and the impact of special taxes […]
Hungary's OTP Bank has announced that the Slovenian competition authority has approved its acquisition of Slovenia's Nova KBM d.d. According to the announcement by the Hungarian financial institution published on the website of the Budapest Stock Exchange this Thursday, the Slovenian Competition Protection Agency approved, at its meeting on January 31, 2023, the acquisition of […]
