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AXA Bank 2008 after-tax profit rises 9.15% to HUF 1.79 bln

Hungary's AXA Bank posted after-tax profit of HUF 1.79 billion (€6.02 million) in 2008, up 9.15% from HUF 1.64 billion in 2007, the bank informed MTI, citing its audited 2008 financial report.

AXA reported that it closed its 2008 with total assets of HUF 285 billion, up 72.8% from 2007.

Its stock of loans increased to HUF 249.5 billion in 2008 from HUF 156.3 billion in 2007, while its stock of deposits rose to HUF 30.3 billion in 2008 from HUF 15.4 billion in 2007.

The bank generated HUF 16.8 billion in interest revenue in 2008, compared to HUF 110 billion in 2007.

Pre-tax profit of HUF 2.19 billion was up 6.8%. The bank had retained profit of HUF 1.61 billion, up 8.8% since the end of 2007.

AXA's parent company had IFRS revenue of €91.2 billion in 2008, with profit of €3.7 million. (MTI – Econews)