Equity
Hungary IEB ups Q1-Q3 profit 29% yr/yr
IEB had consolidated net profit of HUF 1.872 billion in the first nine months of the year, according to Hungarian Accounting Standards. The bank's unconsolidated profit came to HUF 1.526 billion, up 26.6% from the same period a year before.
The bank's unconsolidated pre-tax profit rose 25% year on year to HUF 1.8 billion.
Consolidated total assets were HUF 212 billion on September 30, nearly the same as unconsolidated assets. Consolidated assets were 15.7% up from a year earlier, as the result of more clients, IEB said.
IEB's unconsolidated gross profit rose 16% year on year in Q1-Q3, and was boosted by a 21% rise in net interest income, which was in turn boosted by a widening margin, a growing stock of retail loans and high interest rates.
Revenue from commissions and fees went up by less than 1% year on year in January-September.
IEB's operating costs amounted to HUF 6.326 billion in the first nine months, up 14.1% year on year. Payroll costs rose more than 17%, because of pay rises in the middle of the year and staffing in new branches. Net risk provisions and write-offs increased by 12%.
IEB's total loan pool was up by less than one percent at HUF 138.6 billion. The bank's stock of corporate loans remained unchanged from the same period of 2003, but its stock of retail loans rose 70%, but you should note that the basis period was rather weak.
Deposits increased 13% year on year to HUF 135.5 billion.
IEB's net assets totalled HUF 13.314 billion at the end of September, up nearly 9% from a year before.
The bank's unconsolidated pre-tax profit rose 25% year on year to HUF 1.8 billion.
Consolidated total assets were HUF 212 billion on September 30, nearly the same as unconsolidated assets. Consolidated assets were 15.7% up from a year earlier, as the result of more clients, IEB said.
IEB's unconsolidated gross profit rose 16% year on year in Q1-Q3, and was boosted by a 21% rise in net interest income, which was in turn boosted by a widening margin, a growing stock of retail loans and high interest rates.
Revenue from commissions and fees went up by less than 1% year on year in January-September.
IEB's operating costs amounted to HUF 6.326 billion in the first nine months, up 14.1% year on year. Payroll costs rose more than 17%, because of pay rises in the middle of the year and staffing in new branches. Net risk provisions and write-offs increased by 12%.
IEB's total loan pool was up by less than one percent at HUF 138.6 billion. The bank's stock of corporate loans remained unchanged from the same period of 2003, but its stock of retail loans rose 70%, but you should note that the basis period was rather weak.
Deposits increased 13% year on year to HUF 135.5 billion.
IEB's net assets totalled HUF 13.314 billion at the end of September, up nearly 9% from a year before.
