Garantiqa has HUF 1.1bn profit in Q1

Garantiqa had a full-year loss of HUF 1.9bn in 2009, Econews reported earlier. Between 2005 and 2009, Garantiqa signed 125,000 contracts, providing guarantees of HUF 1,150bn on HUF 1,400bn of loans taken out by 49,000 SMEs. Fees for the guarantees came to HUF 18.5bn. Garantiqa paid lenders HUF 66bn for defaults by borrowers it guaranteed during the period.

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