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CIB Group posts Ft 19.6 bln after-tax profit in Q1-Q3

The CIB Group recorded after-tax profit of Ft 19.6 billion (€75.83 million) during the first three quarters of 2006, an increase of 26% compared to the same period a year earlier, according to the bank's consolidated IFRS financial report, CEO László Török announced on Tuesday.

CIB Group had total assets of Ft 1,806 billion at the end of September, 26% more than a year earlier. Total assets increased partly due to a 27% increase in the bank's stock of loans. Project loans increased 55%, while retail loans increased 65% compared to a year earlier.
CIB is the fourth biggest universal bank in Hungary and the third biggest in corporate services, with a market share of 13.2% in Q3 2006, to Török said.