OTP maintains profit forecast
Article Abstract:
OTP Rt. of Hungary has maintained in the level of $128.5 million to $130.8 million in its projections for 1998 consolidated pretax profit, despite fallout from the financial crisis in Russia. The bank, the largest in Hungary, believes that the unconsolidated pretax profit target of 25 billion forints is realistic, according to chief executive Sandor Csanyi. OTP added that the it recorded pretax profit of 21.82 billion forints in the first nine months, a higher figure compared to 17.35 billion forints posted for the same period in 1997.
Comment:
Keeps level of $128.5 to $130.8 mil in 1998 consolidated pretax profit forecast despite fallout from Russian financial crisis
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Postabank to get more state capital
Article Abstract:
Postabank Rt. needs more capital infusion from the state, which has become is major shareholder, according to Hungarian Minister of Finance Zsigmond Jarai. Jarai said that the bank is forced to use several tens of billions of forints in taxpayers' money to stabilize the bank. The capital needed by the bank could range between 40 billion forints and 100 billion forints. According to reports, the bank had 102 billion forints of "off-balance sheet" liabilities, including 54.8 billion forints in pending liabilities at the end of 1997.
Comment:
Needs more capital infusion from the state, according to Hungarian Minister of Finance Zsigmond Jarai
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Raiffeisen may bid to buy Postabank if Hungary sells it
Article Abstract:
Raiffeisen Bank Rt. may attempt to acquire Postabank Rt. if the government of Hungary decides to sell it. Postabank is the state-owned rival of Raiffeisen.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Market forecasts: baby care - trends to watch. Market forecasts: oral hygiene - value. Market forecasts: oral hygiene - trends to watch
- Abstracts: Spain wary of E.On's bid for Endesa. Spain power deal may create titan. Cantabrico remains opposed to bid by Ferroatlantica
- Abstracts: Germany's electrical storm. Shock treatment. Power shoppers
- Abstracts: When caps do not fit. Power to the poor
- Abstracts: Scientist, inventor, artist ... star. Native hospitality. The new call centre mecca