KELER pre-tax profit adds up to HUF 1.9 bln in 2016
Pre-tax profits of the central depository business of Hungaryʼs clearing house group KELER came to HUF 1.71 billion, and the central counterparty business KELER KSZF brought in pre-tax profit of HUF 154 million, the annual general meeting of KELER heard yesterday, according to Hungarian news agency MTI.
The AGM decided to place all of the 2016 profits into profit reserves, as in previous years.
Pre-tax profits of the central depository business exceeded the plan by a third, while it dropped from HUF 2.01 bln in 2015. Pre-tax profit of the central counterparty business was also down from HUF 288 mln in 2015.
Revenue of the central depository rose 4.5% to HUF 4.57 bln in 2016 and exceeded the plan by 1.5%, CEO Gyorgy Dudas said.
Revenue of KELER KSZF rose 11% to HUF 1.28 bln, in line with plans, CEO Károly Mátrai said. He noted that energy market activity is the biggest revenue source of the central counterparty. The number of clients in the segment rose rapidly last year and more than two-thirds are foreign.
KELER is owned by the National Bank of Hungary (MNB) and the Budapest Stock Exchange (BÉT).
ADVERTISEMENT
Áder Flags Delay in Full-scale Rollout of Bottle Return Syst...
India's G20 Presidency, Dawn of New Multilateralism - Narend...
AutoWallis Exceeds Entire 2022 Revenue, Profit in 9 Months
TikTok Commits to Improved Consumer Communication in Hungary
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.
