Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Hungary Banking Sector Continues To Book Losses in 3Q -Regulator

11/23/2012 | 12:30pm US/Eastern

By Margit Feher

BUDAPEST--Hungary's banks continued to book losses in the third quarter, driving the sector into the red in the first nine months of this year, data released Friday by the financial market regulator, PSZAF, showed.

The net loss of the third quarter totaled 8.4 billion forints ($38.7 million), down from a net loss of HUF30.4 billion in the second quarter, resulting in a net loss of HUF1.1 billion in the January-September period.

The figures indicate that most of the losses were amassed by the banks owned by foreign lenders, including UniCredit SpA (>> UniCredit SpA), Raiffeisen Bank International (RBI.VI) and Erste Group Bank AG (EBS.VI) of Austria.

OTP Bank Nyrt. (OTP.BU), the largest bank by both market share and assets and the only major Hungarian bank without a foreign parent, said last week that its third-quarter consolidated net profit was HUF42.54 billion, including a net profit of HUF27.03 billion at its core, Hungarian operations.

The share of non-performing loans of the overall loan stock was 13.8%, up from 13.6% in the previous quarter.

Write to Margit Feher at margit.feher@dowjones.com

Stocks mentioned in the article : UniCredit SpA
Latest news
Date Title
<1m ago RESEARCH AND MARKETS : European Road Freight Transportation Market Report 2014-2018
<1m ago September mortgage approvals fall to lowest level since July 2013 - BBA
1m ago VCE Enters Next Phase of Growth and Innovation as an EMC Business; Strategic Investors Cisco and VMware Continue Full Support and Alignment
2m ago MECOM : Earnings Fall On Weak Dutch Business, Sluggish Advertising
4m ago DEPARTMENT OF PUBLIC ENTERPRISES REPUBLIC OF SOU : Special General Meeting of SAA Board on 23 October 2014
4m ago ADAMAS FINANCE ASIA : Further Exit with 28.2% IRR Highlights Strength of Repositioning Strategy
4m ago SOFTBANK : Dividend Payout (Interim Dividend)
4m ago TAMBURI INVESTMENT PARTNERS : Meeting partecipation “Italian Corporate M&A Practice Group Meeting”, in Baker & McKenzie office, Milan
4m ago MARWYN VALUE INVESTORS : Net Asset Value
4m ago KUMBA IRON ORE : production and sales report for the quarter ended 30 September 2014
Latest news
Advertisement
Hot News 
FOXTONS : Downgrades Full-Year Earnings Guidance On Poor Third Quarter
UNISYS : Patent Application Titled "Systems and Methods for Identifying Fraud in Transactions Committed by a Cohort of Fraudsters" Published Online
BLOOMSBURY PUBLISHING : Unaudited Interim Results for the six months ended 31 August 2014
WILLBROS : Harwood Feffer LLP : Announces Investigation of Willbros Group, Inc.
NEWCASTLE INVESTMENT : Announces Details for Completion of New Senior Spin-Off and Investor Call on October 17, 2014 at 8:30 AM ET
Most Read News
1d ago ATMEL : Patent Issued for Apparatus and Method for Increasing the Quantity of Discrete Electronic Components in an Integrated Circuit Package
1d ago TERADYNE : beats Street 3Q forecasts
1d ago EXELON : ICC Approves ComEd’s Grand Prairie Gateway Project
1d ago AT&T revenue misses forecasts as more customers bring own phones
1d ago NORTHFIELD BANCORP : Announces Third Quarter 2014 Results
Most recommended articles
<1m ago September mortgage approvals fall to lowest level since July 2013 - BBA
7m ago UK retail sales fall in September, hit by weak clothing demand
17m ago Apple CEO says to add 25 stores in China within two years - Sina
24m ago French business slump deepens as firms slash prices - PMI
27m ago Bank of England's Broadbent says underlying interest rates to eventually rise
Dynamic quotes  
ON
| OFF