Hungarian brokerages manage HUF 1.95 trillion in assets

Telco

Hungarian brokerages, which operate as independent joint-stock companies, managed a total of HUF 1.95 trillion in assets for clients at the end of 2014, constituting a growth of 17.6% as compared to the previous year, Hungarian economic daily Világgazdaság reported today, citing data from the National Bank of Hungary (MNB).

Excluding Buda-Cash, Hungária Securities and Quaestor, whose licenses have been partly or fully suspended, there are 22 companies incorporated as brokerage companies in Hungary, all independent brokerage firms with the exception of Erste Investment, a subsidiary of Erste Bank, the daily writes. Apart from Erste Investment, only three or four companies have a substantial market share, of which the largest brokerages are Concorde and Equilor, the daily added.

According to the daily, MNB data show the volume of securities managed for clients came to HUF 25.4 trillion in January, which gave independent brokers a market share of 7.47%. The investment companies sector had a combined after-tax profit of HUF 5.658 bln last year, little changed from a year earlier, the paper said.

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