FHB has shining Q3 results
The bank produced its planned 2004 total profit in just three quarters.
Mortgage bank Földhitel- és Jelzálogbank (FHB Rt) stocks remained buoyant on Friday after the bank produced its planned 2004 total profit in just three quarters, booking a consolidated net profit of Ft 5.797 billion. Besides growth, the extraordinary profit was mainly due to lower expenses and a slight increase in interest margins. CEO Dániel Gyuris says, however, that their Q4 result will not be that striking, as fresh loans do not return the investment this year. FHB aims at reaching a 25-30% share from the market growth. In order to achieve that, the bank has take measures related to foreign currency-based loans gaining popularity, by offering to refinance both non-subsidized and foreign currency-based loans. (Vg 11) M.M.
