Investment company earnings rise 86% in Q1
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First-quarter after-tax profit of investment companies overseen by the National Bank of Hungary (MNB) rose 86% year-on-year to HUF 8.7 billion, state news wire MTI reports, citing data released by the central bank.
Profit from investment services climbed 56% to HUF 13.1 bln.
Revenue from investment services increased 33% to HUF 119.1 bln during the period, while investment service costs rose 30% to HUF 106.1 bln.
Payroll costs fell 13% to HUF 1.7 bln.
Total assets of investment companies stood at HUF 1.021 trillion at the end of March, up 126% from 12 months earlier.
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