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ELLA Bank Rt had unaudited pre-tax profits of Ft 383 million in the first half of 2006, sharply up from Ft 27 million a year earlier, the bank announced on website of the Budapest Stock Exchange (BÉT) on Monday.
The main activity of ELLA Bank is mortgage lending to retail clients and SMEs. The bank was transformed from a savings cooperative into a commercial bank in 2004. Loans to clients increased 160% to Ft 66.72 billion in the twelve months to the end of June 2006, and total assets increased 165% to Ft 74.06 billion.