Hungary: SZKB to Take over Hungarian RBI?

People ♦ Published: January 8, 2014; 13:01 ♦ (Vindobona)

Hungarian Economy Minister Mihaly Varga considers it unlikely for Szecheny Commercial Bank (SZKB) to take over the Hungarian affiliate of Raiffeisen Bank International (RBI).

Hungary: SZKB to Take over Hungarian RBI? / Picture: © Raiffeisen Bank International AG / S. Klimpt

According to the Hungarian Economy Minister, it cannot be taken for granted that Austrian lender Raiffeisen will sell its Hungarian unit. Moreover, Varga pointed out to public TV channel M1 that the Hungarian government is under no pressure to buy any bank. He announced not to count on RBI selling its affiliate in Hungary. "We should not forget that this bank had generated significant…