The State Financial Supervisory Authority (PSzÁF) granted permission for the program on September 8. The bond program, OJB’s fifth, will include the issue of forint, Swiss franc and euro-denominated bonds carrying fixed or floating rates for terms up to 30 years.
OJB’s stock of loans to clients was a little more than Ft 900 billion on June 30, 2006, 13.8% more than twelve months earlier. The bank’s outstanding stock of mortgage bonds was Ft 805.9 billion. About 94% of the bonds had terms longer than a year.
OJB had unaudited IFRS after-tax profit of Ft 2.4 billion in the first half of 2006, and total assets of Ft 1,073 billion at the end of June. Profit dropped 68% from a year earlier while total assets rose 21%.
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