The Hungarian banking sector, including all credit institutions in the country - domestic banks, foreign branches, saving cooperatives and specialised banks, reported a pre-tax profit of HUF 155.2bn (
The profit was supported by a 54.2% y/y increase in the income from fees and commissions to HUF 414.9bn that more than offset a 1.3% y/y decline in the banks' interest income. Net income from financial operations grew by 42.2% y/y to HUF 118.1bn in 2013. At the same time, the banking sector's operating costs dropped by 2.9% y/y to HUF 630.1bn.
Regarding NPLs, the share of bad and restructured loans continued to increase in the period. The value of all bad and doubtful loans reached HUF 2.7tn as of end-2013, rising by 6.9% on the year.
The sector's capital adequacy ratio stood at 17.86% at end-2013, up from 16.18% a year earlier and up from 16.99% at
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