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FHB shareholders put 2009 profit into reserves

Shareholders of FHB mortgage bank approved a proposal to place all HUF 5.89 billion of 2009 retained earnings into profit reserves, paying no dividend, at an annual general meeting.

FHB last paid a dividend on 2006 profits.

Shareholders approved the bank's consolidated IFRS P+L statement showing after-tax profit of HUF 7.05 billion and balance sheet showing total assets of HUF 801.0 billion.

FHB Bank targets a 10% rise in after-tax profit and a cost-to-income ratio under 45% in 2010, said CEO Daniel Gyuris. (MTI – Econews)