Austrian Oberbank Shines in Hungary

People ♦ Published: May 22, 2014; 08:42 ♦ (Vindobona)

Austrian Oberbank bucks the trend of terminating business activity in Hungary. Instead, the financial institute plans on growing in one of the most difficult markets in Europe.

While other banks are leaving Hungary Oberbank is doing well. / Picture: © Oberbank AG / (2017)

Oberbank’s board member Franz Gasselsberger highlighted that the Austrian bank levy was causing greater difficulties than the Hungarian bank tax, as reported b y Hungarian news agency MTI. However, the banker pointed out that Oberbank was still satisfied with the results of the Hungarian affiliate, which contributed to the banking group’s profits.

Oberbank has been active in…