BUDAPEST: Hungarian banks’ combined first-quarter after-tax profit rose by 209 percent year on year to 191.4 billion forints (EUR 610m), data released by the National Bank of Hungary on Wednesday show.
Profits rose on higher revenue from financial and investment services and dividends as well as the lower bank levy.
Lenders’ combined pre-tax profit rose by 168 percent to 198.5 billion forints during the period. Total assets of the sector stood at 33,144.3 billion forints at the end of March, up about 3 percent from twelve months earlier.
