CIB Group closed business year 2023 with outstanding results

Budapest, 26 March 2024. - CIB Group closed the second year of the 2022-2025 strategic cycle with outstanding results, and with a loan and deposit growth several times above the market average. 2023 was one of the most successful years in the history of CIB Group. Its balance sheet total, loan portfolio and revenues grew significantly, while its costs remained below the annual average inflation rate, at a sustainable level, so its cost efficiency continued to improve, with several rounds of salary increase for its employees. Backed by the full support of Intesa Sanpaolo’s International Subsidiary Banks Division, CIB Group continued to increase its market share in strategically important segments, expanding the range of its digital services and the proportion of customers using them. As a result, cost efficiency continued to be excellent in 2023, and the Group closed the 2023 business year with profits of HUF 63.929 billion, 77.1% above the 2022 figure. Its balance sheet total was HUF 3,315.812 billion at the end of December 2023, 7.2% higher than in December 2022.