K&H Bank Rt had audited unconsolidated after-tax profit of Ft 17.722 billion in 2005 according to Hungarian Accounting Standards (HAS), 20% less than a year earlier, the bank's financial report, to be presented to shareholders at an annual general meeting on April 26, reveals.
K&H bank had HAS pre-tax profit of Ft 23.059 billion in 2005, 6% less than in 2004. Total assets were Ft 1,888.337 billion at the end of 2005, 17.5% more than a year earlier.
The bank's audited after-tax profits calculated according to International Financial Reporting Standards (IFRS) came to Ft 17.748 billion in 2005, 2% less than a year earlier. IFRS pre-tax profits rose 7.6% to Ft 23.716 billion. Total assets were Ft 1,942.269 billion at the end of 2005, 12.4 % more than a year earlier and Ft 7 billion more than in the preliminary report published in February.
K&H bank said in February that it had outperformed its targets in 2005.