K+H Bank booked HUF 58bn for the bank levy and windfall profit tax in Q1.

Stock of client loans rose 13pc to HUF 3,501bn in the twelve months to the end of March. Deposit stock increased 7pc to HUF 4,386bn.

Client numbers rose 6pc to 1.1 million.

CEO Peter Roebben said Home Start subsidised credit for first-time home buyers and personal loans drove retail lending, but corporate lending remained "subdued" on a still weak outlook for the economy.

CFO Attila Gombas said the bank's home lending stock grew 27pc while personal loan outlays surged 50pc. The bank took 15pc share of the market for subsidised credit for blue collar workers, he added.

K+H Insurance also had a loss for the quarter, HUF 1.1bn, after booking the full-year amount of the windfall profit tax, said CEO Evgeni Benbasat.

Revenue from premiums on general insurance policies edged up 2pc to HUF 24.5bn, she added.

MTI Stock Photo

Source: MTI – Hungary’s national news agency since 1881. While MTI articles are usually factual, some may contain political bias, and readers should be aware that such content does not reflect the position of XpatLoop, which is neutral and independent.

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