Hungary: Erste Group Confident

Politics ♦ Published: January 6, 2014; 23:15 ♦ (Vindobona)

The third-largest lender in CESEE underlined that the Hungarian subsidiary will not be sold. The Austrian bank is confident to reach the turnaround soon.

Hungary: Erste Group Confident / Picture: © Erste Group / Helmut Lackner

As reported by Vindobona, the party state-backed Hungarian lender Szechenyi Commercial Bank wants to take over the Hungarian affiliate of Austrian RBI (Raiffeisen Bank International). According to the Hungarian daily “Magyar Hirlap”, the Hungarian state is also interested in Erste Group´s Hungarian subsidiary.

The currently largest banks are the state-owned OTP Bank, FHB,…