October 16, 2018 / 6:02 AM / a month ago

Duna House sees short-term hit from Hungarian savings scheme changes

BUDAPEST, Oct 16 (Reuters) - Hungarian real estate broker Duna House Holding said a proposed law change to scrap state subsidies for a home savings scheme might cut future volumes of such savings to zero and have a short-term negative impact on its results.

However, in a filing with the Budapest Stock Exchange late on Monday, the company affirmed its profit guidance for core operations for 2018 despite the short-term negative impact.

It added that the proposed changes may trigger consolidation in the loan brokerage sector over the medium term, which could increase the company’s market share in mortgage loans. (Reporting by Gergely Szakacs Editing by Andrew Heavens)

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