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Bank Austria Plays Down Hungary Risks

Published: March 19, 2012; 07:42 · (Vindobona)

The head of UniCredit unit Bank Austria's central and eastern Europe business played down potential risks from Hungary in a magazine interview published on Friday.

Bank Austria Plays Down Hungary Risks / Picture: © UniCredit Group

"I don't think it will go that far," Gianni Franco Papa told Format magazine when asked if he feared Hungary could become insolvent. "And even if it did we are in a comfortable situation. We are profitable in Hungary and our share of corporate customers is very high."

Hungary's conservative government is locked in a row with the European Union over legislation that Brussels says…

This article includes a total of 96 words.

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