Takarék Mortgage Bank H1 profit climbs

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Takarék Mortgage Bank, formerly named FHB Bank, had first-half after-tax profit of HUF 4.1 billion, improving from just under HUF 0.2 bln in the base period, an earnings report released late Thursday shows. Net interest income rose 6% to HUF 7.0 bln.

Net revenue from commissions and fees fell 3% to HUF 2.6 bln, state news agency MTI reported. The lenderʼs net trading result jumped 183% to HUF 4.9 bln, it added.

Takarék Mortgage Bank had total assets of HUF 616.8 bln at the end of June, up 7% from twelve months earlier. Net assets fell 9% to HUF 52.1 bln. 

The gross stock of Takarék Mortgage Bankʼs own loans increased 7% to HUF 351.0 bln. While the retail lending stock was up 4% at HUF 202.9 bln, corporate loans climbed 12% to HUF 148.1 bln. 

Takarék Mortgage Bank noted that it ceased to offer direct loans to clients from April 2018, in line with its current business strategy. Direct lending of the group will be taken over by Takarék Commercial Bank, while the mortgage bank will focus on refinancing functions and the issuance of mortgage bonds, it added.

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