High dealer commissions skewing Hungarian car market, says Merkantil CEO
Hungary's car market shows a skewed sales picture compared to other countries in the region, primarily because of high commissions demanded by dealers for signing car financing deals with customers, according to Adam Kolossvary, Chairman and CEO of Hungary's biggest car financing firm, Merkantil Group.
Hungary's preliminary March budget deficit a record high HUF 354 bln, well above forecasts
Hungary's state budget closed March with its largest ever consolidated deficit, with the shortfall reaching HUF 353.7 bln, and bringing the year-to-date deficit to HUF 789.2 bln or 51% of the annual target, according to preliminary figures released by the Finance Ministry on Monday.
Hungarian government deficit will be 6.7% of GDP in '06, research firm Kopint-Datorg says
Hungary's general government deficit is expected to come to 6.7% of GDP in 2006, with official balancing steps expected after the elections, according to a monthly report by research firm Kopint-Datorg published Monday.
MKB Bank records 19.2% increase in pre-tax profit in 2005 on client base swell
Hungarian bank MKB, controlled by German BayernLB, recorded a 19.2% year on year (y/y) rise in pre-tax profit to HUF 21.7 bln (USD 98.6 mln) in 2005 as an increase in fees and interest income was driven by growing client numbers in both business and household sectors, according to MKB's preliminary data released Monday.
Hungary's governing Socialists win 1st election round, but race still open for 2nd round
Hungary's governing socialist-liberal coalition scored a clear, if not decisive, victory over the conservative opposition in Sunday's first round of parliamentary elections, but the color of the next government will only be decided at the second-round runoff elections to be held in two weeks' time.
