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Fundamenta Lakáskassza sees record year in 2015

Sustainability

Fundamenta Lakáskassza, a Hungarian home savings bank, saw a record year in 2015 with 30% more contracts signed than in the previous year, reaching a value of HUF 538 billion, Chairman-CEO Károly Gergely said yesterday, according to a press statement.

Fundamenta Lakáskassza Zrt. Chairman-CEO Károly Gergely announces last year’s results yesterday, accompanied by Operations Director András Kiss and Sales and Marketing Director László Morafcsik.

Outlays by Fundamenta reached HUF 175 bln, including HUF 89 bln in home loans, granting the bank a 25% market share in Hungary, the press statement noted. 

Approximately 73% of the loans provided by Fundamenta were used to purchase homes, 15% was spent on renovations, 7% on refinancing loans and 5% on the construction of homes in 2015, according to the press release.

By the end of 2015, lending stock reached HUF 228 bln, raising Fundamenta’s loan-to-deposit ratio from 2014’s 49% to 60% last year, the press statement added. Gergely said he foresees the bank’s loan-to-deposit ratio stabilizing around 70% in the long-run, according to reports.

The bank’s NPL ratio was at 1.3% at the end of the year. Fundamenta’s net profit fell to HUF 6.5 bln in 2015 from HUF 6.8 bln a year earlier.

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