Hungary Banking Sector Becomes Profitable In 2013
- 25 Feb 2014 8:00 AM
Hungary’s banking sector had combined pre-tax profit of 155.2 billion forints in 2013, helped by higher revenue from commissions and fees as well as one-off items, preliminary data published by the National Bank of Hungary (NBH) on Monday show.
The profit was a sharp improvement over a 91 billion forint pre-tax losses registered in 2012. The sector last turned a profit in 2010. The sector had 67.6 billion forints of after-tax profit last year against an after-tax loss of 173.5 billion in 2012.
Total assets of the banking sector came to 31,156 billion on December 31, 2013, down 0.9% from the end of 2012. The contraction slowed from a 9.9% decline in 2012.
Source www.hungarymatters.hu
Follow that link to sign-up for MTI’s twice-daily newsletter.
LATEST NEWS IN business