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FHB shareholders vote to pay no dividend

Analysis

Shareholders of FHB Mortgage Bank decided to pay no dividend at an annual general meeting today. FHB Mortgage Bank had a net loss of HUF 19.2 bln last year, according to Hungarian Accounting Standards.

Chairman Zoltán Spéder said the bank had progressed toward achieving its three main strategic goals: increasing sales, making acquisitions and meeting legal challenges, referring to borrowers relief legislation that required Hungarian banks to give rebates to many of their retail clients.

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