CIB H1 Profit Reaches HUF 12.9 Bln
- 9 Aug 2016 9:00 AM
The Italian-owned CIB Group had after-tax profit of HUF 12.9 bln in the first half, a huge improvement over a HUF 20.9 bln loss in the corresponding period of 2015, the lender revealed Monday.
The groupʼs total assets stood at HUF 1,592 billion at the end of June, falling 5% from the end of December on a drop in client loans.
Net revenue from interest, commissions and fees rose 46% to HUF 39.8 bln, despite a 9% drop in net interest revenue to HUF 14 bln.
The ratio of non-performing loans in the lending portfolio fell 0.7 percentage points to 14.6% in the first half.
CIB Groupʼs capital adequacy ratio reached 19.5% at the end of June.
The bank had a 5.3% market share in terms of new retail outlays. Its share of the investment fund market reached 7%.
Republished with permission of Hungary Matters, MTI’s daily newsletter.
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