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Banking sector continues dynamic growth

Preliminary reports for January-June of this year show an overall profit rise of more than 17% in the banking sector, according to business daily Világgazdaság. Despite an increase in tax load, the after-tax profit was 17.1%, while total assets was up by over 25% in an average of ten finance institutes that are on the Budapest Stock Exchange. The numbers, taken from the stock exchange's website, show that total assets exceeded Ft 12,700 billion at the end of June, a 26.3 % rise over the corresponding period of 2004. Erste Bank Rt showed the biggest growth by far, partly triggered by its purchase of Postabank Rt at the end of 2004. (MTI; Tue Vg 1,13)