MFB H1 profits fall 32.8%

MNB

The Hungarian Development Bank Rt (MFB) had after-tax profit of Ft 3.13 billion in the first half of 2006, 32.8% less than in the same period a year earlier, the bank said in its unconsolidated unaudited H1 report, prepared with Hungarian Accounting Standards and published on Wednesday.

First-half pre-tax profits rose 32.49% year-on-year to Ft 4.12 billion. Retained earnings came to Ft 2.82 billion, 32.8% less than in H1 2005.
MFB had total assets of Ft 935.65 billion on June 30, 50.23% more than twelve months earlier. Stock of loans to clients rose 61.6% to Ft 578.4 billion. MFB's net assets came to Ft 116.6 billion at the end of June, up 5.85% in twelve months.

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