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MKB profit grows 13.6% in 2004

The Hungarian Foreign Trade Bank Rt (MKB), Hungary's third largest commercial bank, saw operating profit and net income rise 12% to Ft 17.3 billion and 13,6% to 14.8 billion, respectively, while interest revenue jumped 54.2% to Ft 115.6 billion. The bank's net assets rose from Ft 1,121 billion to Ft 1,458 billion between the last day of 2003 and 2004. Having acquired a controlling stake in Konzumbank Rt in late 2003, MKB merged its subsidiary on July 1. As a result, the number of its branches increased from 33 to 50, while its employee base grew from 1,281 to 1,602.