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FHB fourth-quarter profit declines 1.6%

Hungary's FHB mortgage bank generated after-tax profit of HUF 1.6 billion in the fourth quarter of 2009, down 1.6% from Q4 of 2008, though up 10.6% from the third quarter of last year, the bank announced.

FHB posted after-tax profit of HUF 7.1 billion in 2009, up 6.2% from 2008. FHB had net interest-revenue of HUF 7.6 billion in the fourth quarter of 2009, up 80% compared to Q4 of 2008 and up 13.6% from the third quarter of last year.

The bank had operating costs of HUF 3.7 billion in the fourth quarter of 2009, down 16.7% from Q4 of 2008, though up 11.5% from the third quarter of last year. (MTI – Econews)