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HVB Hungary sells 3,400 home loans in January-April

HVB Bank Hungary Zrt’s real estate financing segment disbursed loans for the construction of 3,400 homes in the first four months of 2006, and it has approved loans for the construction of a further 600 homes, department head at the bank Márta Neér announced on Wednesday.

Real estate financing is HVB Hungary's fastest growing segment, she said. The bank's stock of real estate loans has grown from Ft 40 billion to Ft 150 billion in the past six years.
HVB plans to open 30 new branches in 2006, as part of its Ft 10 billion branch development program started in 2004. It had 52 branches at the end of 2005.
HVB Bank had consolidated after-tax profit of Ft 19.44 billion in 2005, according to International Financial Reporting Standards (IFRS), 2% more than in the previous year.