FHB puts earnings into profit reserves
Shareholders of FHB mortgage bank approved a proposal to place 2012 earnings into profit reserves, paying no dividend, at an annual general meeting on Wednesday. The bank has not paid a dividend for three years. Shareholders approved the bank's 2012 Hungarian Accounting Standards unconsolidated profit and loss statement showing retained earnings of HUF 1.6 billion. The bank's balance sheet shows total assets of HUF 647.8 billion at the end of 2012. Chairman Zoltán Spéder called the work of the bank's staff and management “heroic” and said a turnaround could be seen if one looked deep into last year's numbers.
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