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K&H Equities beats Erste to Hungary's top brokerage

The times ahead, however, are to be marked by the implementation of tax on exchange rate gains. In the last summer month Erste Bank Hungary Rt was the brokerage that had reason to be down in the mouth, as it was toppled by K&H Equities Rt. In the January-July period Erste still generated the largest turnover, if we take out MOL Nyrt transactions out of the equasion. The duplicated turnover of the Budapest bourse totaled Ft 825 billion in August, up considerably from Ft 677 in the same month of 2005. For K&H Equities it was enough to increase its turnover only marginally to push Erste off the throne. The last time Erste delivered Ft 115 billion turnover was in June last year. HVB Bank Zrt and Concorde Securities Zrt had a real fight for the last ranking. ING Bank Rt slipped back two notches, while Czech Wood&Co debuted among the Top10 in August. Equitas has been holdings its position (8th and 9th) firmly since May, while IEB failed to make it to the Top10 for the first time this year. (