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Budapest Bank reports 30% y.o.y. rise in profit for 2013

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Budapest Bank, a unit of US-based GE Capital, had after-tax profit of HUF 14 billion in 2013, up 30% from a year earlier, chairman/CEO György Zolnai reported on Wednesday. 

Total assets fell 2% to HUF 905.3 billion in the twelve months to the end of December. Stock of loans edged down 1% to HUF 625.4 billion.

Zolnai said the bank had signed contracts for some HUF 17 billion of 0% financing available under phase II of the National Bank of Hungary’s Funding for Growth scheme and had already lent HUF 9 billion of the amount.

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