Bawag: Hungarian Exposure Shrinks

Professional ServicesBanks ♦ Published: October 23, 2012; 18:23 ♦ (Vindobona)

The Austrian bank gradually withdraws from Hungary. The stake in MKB Bank becomes smaller.

Bawag: Hungarian Exposure Shrinks / Picture: ©

Bawag´s stake in MKB bank shrinks. At the moment, MKB Bank increases its capital base. Bawag will not participate. Hence, the stake held by Bawag will decrease below 2.0%. In order to retain a 4.6% stake, Bawag would have to inject € 10.6m in MKB Bank. The deadline expires at the end of October.

The Austrian bank did not confirm the report yet. However, Bawag´s CEO Byron…