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MFB profits slip 40% in 2008

  Net profit of the state-owned Hungarian Development Bank (MFB) fell HUF 3.79 billion to HUF 5.77 billion ($27.7 million) in 2008, unconsolidated IFRS data on the bank’s website show.

Total assets grew to HUF 1,026.4 billion on December 31, 2008 from HUF 889.9 billion twelve months earlier. According to Hungarian Accounting Standards, unconsolidated net profit fell HUF 2.2 billion to HUF 5.71 billion and total assets rose to HUF 1,027.8 billion from HUF 891.2 billion. (MTI-Econews)