Colling
"Payroll, Financial Audit, Internet Accounting"
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Profits swell for banking sector |
"Pre-tax profits of Hungarian banks were up 20% on average, reaching Ft 387.6 billion, according to a report by Pszaf, the financial supervisory.
The bank tax cut slightly into the bottom line of banks, but after-tax profits still rose 16% to Ft 319.8 billion. Total assets were up 18% year-on-year, boosted by a pick-up in lending activity and unabated demand for non-forint loans.Foreign-exchange denominated loans accounted for half of corporate sector loan stock, and one-third of household liabilities, Pszaf reports.
Hungarian business and household debt levels were still considered low, relative to the EU, said the financial watchdog.
The volume of bad loans rose 10% in 2005, and accounted for one-tenth of the banking sector’s balance sheet totals. Leasing firms took back 30,000 cars last year due to payment defaults."
Source: Hungary Around the Clock.
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24.02.2006
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