Windfall Profit Tax Accounting Weighs Heavy on Erste Bank Hungary, Says Expat CEO
- 7 May 2026 6:00 AM
Austrian-owned Erste Bank Hungary booked a first-quarter loss of HUF 5bn as new rules required the lender to book the full-year windfall profit tax in Q1, chairman-CEO Radovan Jelasity said on Wednesday.
Erste Bank had after-tax profit of HUF 20bn in the base period, Jelasity noted.
Retail lending stock rose 17pc to HUF 2,892bn in the twelve months to the end of March as outlays surged 74pc to HUF 153bn. Outlays included HUF 91bn of mortgage loans and HUF 44bn of personal loans.
Subsidised Home Start loans for first-time buyers remained the main driving force for retail lending growth, said Laszlo Harmati, the deputy-CEO for the retail business said.
Stock of corporate loans and bonds increased 7pc to HUF 1,128bn as outlays climbed 70pc to HUF 41bn.
The NPL ratio edged down 0.4pp to 1.5pc.
Photo: Erste Bank
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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