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FHB to apply for commercial bank license

FHB Mortgage Bank will apply in September for a license to operate a commercial bank, and annuity provider FHB Életjáradék will start operating in the Q3, FHB deputy CEO László Harmati said yesterday. Hungary's financial market regulator PSZÁF approved in May the establishment of commercial bank FHB Kereskedelmi Bank, which is being set up with net assets of Ft 6 billion, including registered capital of Ft 2 billion and capital reserves of Ft 4 billion. FHB Mortgage Bank will own 90% of the bank and its subsidiary FHB Szolgáltató will hold 10%. Harmati noted that, although Hungary's housing market is slowing, both developers and real estate companies believe it still has significant growth potential. (Magyar Hírlap)