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BNP Paribas Hungária to operate as branch from H2 2006

BNP Paribas will continue its operations in Hungary as a branch from the second half of the year, BNP Paribas Hungária Bank Rt CEO Francois Regnier said on Tuesday.

The bank has already organized all of the necessary permits, he said. BNP Hungária had consolidated unaudited profit of Ft 928.8 million in 2005, 45% less than a year earlier. The bank had total assets of Ft 158.39 billion at the end of 2005, 0.7% more than twelve months earlier. Regnier attributed the fall in profits to the decision by the bank’s parent to adopt a so-called "global subscription solution".