Hungarian Banks’ Ten - Month Pre -Tax Profit Up At HUF 86bn
- 10 Jan 2014 8:00 AM
Banks in Hungary had combined pretax profit of 86 billion forints by the end of October, the National Bank of Hungary (NBH) said. Pre-tax profit rose significantly from 21 billion forints in the first ten month a year earlier, but was still historically low. A large part of the ten-month profit was generated by one single bank.
Four of the big banks recorded losses in the period. The business loan stock of Hungary’s seven big banks fell 19.5 billion forints in November, but the fall was smaller than in the previous two years before the NBH launched its Funding for Growth scheme.
The retail loan stock of the seven big banks fell by a further 27 billion forints in November.
Source www.hungarymatters.hu
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