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Fundamenta-Lakáskassza posts promising results

Home savings bank Fundamenta-Lakáskassza Rt had Ft 141 million pre-tax profit in 2004 in a stagnating home loan market, the management said in a press release. Established two years ago with the merger of Fundamenta Rt and Lakáskassza Rt, the bank signed up its 100,000th customer in January 2005. In 2004, the return on its investments rose 20% yr/yr, while costs declined by 32%. Fundamenta-Lakáskassza signed nearly 70,000 new contracts last year. The average value of contracts increased from Ft 1.5 million to Ft 2.3 million from 2003 to 2004.