FHB Q2 loss narrows

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FHB Mortgage Bank booked a consolidated second-quarter loss of HUF 121 million, improving over a HUF 268 mln loss in the base period, an earnings report released late yesterday shows.

Net interest income dropped 1% to HUF 3.46 billion. Net revenue from commissions and fees fell 10% to HUF 1.72 bln. The lenderʼs net financial result jumped to HUF 1.2 bln from just HUF 136 mln, national news agency MTI reports. FHB freed up provisions of HUF 592 mln in Q2, after making provisions of HUF 413 mln in the base period. It had total assets of HUF 574.6 bln at the end of June, down 7% from 12 months earlier. Net assets were down 19% at HUF 57.5 bln. Gross stock of loans edged up 2% to HUF 318.6 bln. The NPL ratio of the portfolio dropped 3.6 percentage points to 9%. Stock of client deposits fell 2% to HUF 284.5 bln. Earnings per share was a negative HUF 7.4 for the period.

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