FHB said it generated net interest income of HUF 5.52 bln, up 6.3% from HUF 5.19 bln a year ago. Net fees and commissions came in at HUF 1.74 bln, up 35.7% from HUF 1.32 bln. The bank reported operating costs of HUF 4.22 bln, up 9.8% from HUF 3.85 bln.

Cost to income ratio increased to 128.7% from 71.6%, and grew to 105.9% from 61.8% excluding the banking tax and provisions. Ordinary loan-loss provisions reportedly fell to HUF 134 mln from HUF 955 mln, but in the fourth quarter FHB set aside a further HUF 5.7 bln to cover household client restitutions for past practices under new FX legislation last year.

Total provisions on expected losses on client settlements increased to HUF 23.6 bln. FHB said it had an after-tax loss of HUF 16.22 bln for all of 2014, down from a loss of 4.66 bln the previous year. Discounting the special bank tax and other one-offs, after-tax losses came in at HUF 3.8 bln after a loss of HUF 610 mln in 2013.

FHB said it had total assets of HUF 769.4 bln at the end of last year, down 4.3% from a year earlier. FHB is an Equities Prime-category issuer at the Budapest Stock Exchange.