Austrian Banks to Stay in Hungary

Politics ♦ Published: March 14, 2013; 17:21 ♦ (Vindobona)

In the coming years, foreign banks will face a difficult market environment in Hungary. Nevertheless, Austrian banks want to maintain their position.

Austrian Banks to Stay in Hungary / Picture: ©

Hungary´s government wants to make domestic banks stronger and more competitive. This week, Prime Minister Viktor Orban criticized that the share of foreign banks comes at 80%. According him, the high share of foreign banks is “unhealthy”. This share must be pushed below 50%, he said. As foreign banks cannot be nationalized, Orban will strengthen the publicly held banking sector.…