Hungarian Banking Sector's After-Tax Profit Declines 13 percent in H1 2008

The combined after-tax profit of Hungary's banking sector fell 13 percent in the second half.

At the same time, combined total assets rose 16.7 percent in the twelve months to June, according to figures published on the website of Hungarian market regulator PSZAF late on September 3rd 2008. 

The only segment with a rise in profits was that of home savings and mortgage banks. Mid-size banks suffered the most both in terms of profits and assets, while large banks raised their market share to above three-quarters of the market.

Combined after-tax profit of the sector fell to HUF 176 billion (EUR 739 million) in H1 of this year and combined total assets rose to HUF 25,655 billion (EUR 108.3 billion) at the end of June 2008.

News Monitoring