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FHB profit rises on loan demand

Land Credit and Mortgage Bank Rt (FHB), the mortgage lender controlled by the government, increased second-quarter profit by 23% as demand for housing loans picked up following a series of interest rate cuts, business daily Napi Gazdaság reported. Net income at FHB rose to Ft 2.28 billion from Ft 1.85 billion a year before, based on the company's first-half earnings statement today. "Growth figures signal a significant pick-up in demand for housing loans, which resulted in increased loan payments from May," the company said in its earnings report.