Hungarian MKB Bank To Close 15 Branches

  • 1 Oct 2018 8:12 AM
  • Hungary Around the Clock
Hungarian MKB Bank To Close 15 Branches
MKB bank plans to close 15 branches to cut costs, Index reports. The bank did not disclose which units would be shut down nor how many jobs would be lost. MKB promised to provide more information next week.

MKB reported an 8% drop in after-tax profit to Ft 18 billion for the first half. Net interest revenue climbed 5% to Ft 21 billion but net revenue from commissions was down 4% to Ft 14 billion.

Operating costs jumped by 62% to Ft 33.7 billion, while other operating revenue increased 145% to Ft 15.5 billion.

MKB had total assets of Ft 2 trillion at the end of June, down 1% from the end of 2017. Shareholders equity was 4% higher at Ft 140.7 billion.

The stock of client loans went up 11% to Ft 926 billion, while deposits shrank by 10% to Ft 1.4 trillion in the first six months.

MTI Photo: Illyés Tibor

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