K&H Bank after-tax profits slip 2.4% in 2005 on one-off items

K&H Bank’s consolidated International Financial Reporting Standards (IFRS) after-tax profit fell 2.4% to Ft 17.7 billion in 2005, because of the extraordinary banking tax and the adoption of a new logo, as well as one-off costs related to its brokerage and changes in the calculation of general risk provisions, the bank announced on Monday. Excluding the effect of these items, after-tax profits rose 25%, the bank noted. Despite the fall in profits, K&H Bank said it outperformed all of its targets for the year. Pre-tax profit rose 7.8% to Ft 23.8 billion in 2005, calculated according to the unaudited consolidated IFRS figures released on Monday. Total assets were Ft 1,935 billion at the end of 2005, 12% more than a year earlier.

Art

Hungary Runner-up to London as European Film Production Base

Telco

4iG Group Reports Record Revenue, EBITDA in H1

World

Foreign Ministry Calling on Hungarian Citizens to Leave Lebanon

EU

Magyar Calls for EU Help to Assuage High Food, Energy Prices

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For over 30 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.