Budapest Bank profit climbs 13% in 2012

Telco

Budapest Bank, the Hungarian unit of GE Money, had after-tax profit of HUF 10.9 billion in 2012, up 13% from the previous year, chairman-CEO György Zolnai said at a press conference on Wednesday. Zolnai attributed the improvement to a significant reduction in risk provisions and stable operating costs. He added that the bank's key business areas grew, noting a 4% increase in corporate lending. The bank finished 2012 with consolidated total assets of HUF 925.6 billion, down 2% from twelve months earlier, according to Hungarian Accounting Standards.

ADVERTISEMENT

Third of Czechs Only Have a Minimum Financial Reserve, Surve... Analysis

Third of Czechs Only Have a Minimum Financial Reserve, Surve...

IMF Urges Hungarian Authorities to Carry out Structural Refo... Government

IMF Urges Hungarian Authorities to Carry out Structural Refo...

New CEO at the Helm of Kifli.hu Appointments

New CEO at the Helm of Kifli.hu

Hungarian Beer Industry Sales up Last Year Drinks

Hungarian Beer Industry Sales up Last Year

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.