Magyarországi Volksbank total assets rise to HUF 544 bln
Magyarországi Volksbank had total asses of about HUF 544 billion at the end of 2011, up from HUF 504 billion twelve months earlier, chairman-CEO László Balázs said in a statement, citing unaudited data.
The bank's stock of loans rose to HUF 406 billion from HUF 385 billion during the same period.
Balázs said about 30% of the bank's clients availed of a government-initiated scheme allowing early repayment of foreign currency-denominated mortgages at discounted exchange rates. He added that the bank racked up a more than €20 million loss because of the scheme.
The bank, recently acquired by Russia's Sberbank, aims to achieve 5% market share in the foreseeable future, Valentin Mihov, Sberbank's director for strategy and development, said in February.
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.