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Hungary Becomes Fundamental Risk Factor for Austrian Banks
Politics ♦
Published: January 5, 2012; 16:31 ♦ (Vindobona)
Over the last weeks, fears of a Hungarian bankruptcy grew drastically. The Hungarian Forint has reached a new record low.
Hungary Becomes Fundamental Risk Factor for Austrian Banks / Picture: © Vindobona.org
Negative news from Hungary do not break. Especially for Austrian banks, their relatively high exposure became a fundamental risk factor. Austrian banks have a market share of 20%: Erste Group´s market share amounts to 9%, Raiffeisen holds 7% and Bank Austria has a 5% market share. RBI´s Hungarian subsidiary is expected to record losses of € 320m in 2011. In the first three quarters…
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