K&H Bank books HUF 7.9 bln profit in Q3

Telco

K&H Bank, the Hungarian unit of Belgium's KBC, had after-tax profit of HUF 7.9 bln in the third quarter, CEO Hendrik Scheerlinck said today.

K&H Bank booked a HUF 32.5 bln loss for Q1-Q3 because of a HUF 70.9 bln provision for compensation the lender must pay clients under borrowers' relief legislation approved in the summer, Scheerlinck said.

K&H Bank has been allocated €950 mln from the National Bank of Hungary for the planned conversion of FX retail mortgages into forints, said financial division head Attila Gombás.

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 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.