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Fundamenta expects stock of new contracts to rise 70% in 2006

Home savings bank Fundamenta Lakáskassza Zrt expects to close 2006 with new contracts worth Ft 270 billion, 70% more than in 2005 and well over the target, president-CEO Károly Gergely said in a press release.

Gergely attributed some of the increase to almost Ft 40 billion of bank home loans which Fundamenta Lakáskassza mediated. He also noted that savings with home savings banks are exempt from the interest tax, which was raised from 0% to 20% on September 1, increasing their popularity.