CIB Group posts Ft 19.6 bln after-tax profit in Q1-Q3
The CIB Group recorded after-tax profit of Ft 19.6 billion (€75.83 million) during the first three quarters of 2006, an increase of 26% compared to the same period a year earlier, according to the bank's consolidated IFRS financial report, CEO László Török announced on Tuesday.
CIB Group had total assets of Ft 1,806 billion at the end of September, 26% more than a year earlier. Total assets increased partly due to a 27% increase in the bank's stock of loans. Project loans increased 55%, while retail loans increased 65% compared to a year earlier.
CIB is the fourth biggest universal bank in Hungary and the third biggest in corporate services, with a market share of 13.2% in Q3 2006, to Török said.
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.