Garantiqa surety stock reaches HUF 433.5 bln in Q1-Q3

Telco

Surety stock of Garantiqa Hitelgarancia rose to HUF 433.5 billion in the first three quarters of the year, higher than the planned HUF 416 bln, Hungaryʼs biggest credit guarantor said today, according to Hungarian news agency MTI.

The surety stock saw quicker than expected growth as Garantiqa performed better in all its major business segments even as it managed to keep its costs below the previously forecast level. 

At the start of the year Garantiqa expected its surety stock to reach HUF 420-421 bln at the end of the year, but it now predicts it will surpass HUF 450 bln. 

The guarantor said growth of its surety stock could continue in 2017.

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