Member access

4-Traders Homepage  >  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

Stocks mentioned in the article : UniCredit SpA
Recommend :
React to this article
Latest news
Date Title
<1m ago KEIHIN : Patent Issued for Vehicle Air Conditioner
<1m ago HYUNDAI MOTOR : Patent Issued for Variable Valve Lift Apparatus
<1m ago XEROX : Patent Issued for Vehicle Occupancy Detection via Single Band Infrared Imaging
<1m ago COLOPLAST A/S : Patent Issued for Vaginal Manipulator Including Light Source
<1m ago NVIDIA : Patent Issued for Vertex Attribute Buffer for Inline Immediate Attributes and Constants
<1m ago NIPPON STEEL & SUMITOMO METAL : Patent Issued for Vibration Suppression Device for Railway Vehicle
<1m ago MITSUBISHI HEAVY : Patent Issued for Variable Geometry Exhaust Turbocharger
<1m ago Patent Issued for Vibration Detection and Control of Storage Device and Storage System
<1m ago Patent Issued for Video Display Device and External Device
<1m ago BUSINESS MACHINES : Patent Issued for Vertical Stacking of Graphene in a Field-Effect Transistor
Latest news
Hot News 
XP POWER : s) in Company
TUBEMOGUL : Nasdaq stocks posting largest percentage increases
SMITH & WESSON : Reports First Quarter Fiscal 2015 Financial Results
CSR : Mulling Sale After Receiving Takeover Offers - FT (PRESS)
OPTION : reports First Half Year 2014 results
Most Read News
1d ago KRATON PERFORMANCE POLYMERS : to Present at the 2014 RBC Capital Markets' Industrials Conference
1d ago VMWARE USER GROUP : (VMUG) Announces 100,000-Member Milestone
1d ago HILLSHIRE BRANDS : Tyson wins U.S. Justice Dept antitrust nod for Hillshire deal
1d ago CANADIAN WESTERN BANK : CWB Reports Record Quarterly Earnings
Most recommended articles
7m ago TORONTO DOMINION BANK : reports stronger third-quarter profit
10m agoDJDeutsche Bank Fined by U.K.'s FCA -- 2nd Update
16m ago Spain's Economy Secretary sees positive inflation by year-end
24m ago DEUTSCHE BANK : UK watchdog fines Deutsche Bank $8 million for reporting errors
26m ago Irish retail sales surge 8 percent on new car registration plates
Dynamic quotes